The Data and Decision Analytics Assessment paper

The Data and Decision Analytics Assessment paper Student's Name The University of Arizona Global Campus Course Number Instructor’s Name Due Date Introduction Data Is a powerful tool in any organization for decision-making, formulation of strategies, and organizational performance. The benefits of data are inexplainable by increasing competitive advantage, productivity and efficiency of a company, Customer satisfaction hence customer loyalty, increase in profit margins, and the creation of new products and services (Khadka & Maharjan, 2017). The company’s ability to learn how to effectively analyze data guarantees actionable insights on better decision-making, future predictions, and organization scrutiny. Data allows a company to identify trends and derive insights through business analytics. There are various data analytic software such as MS Excel, Google Charts, and many others that create visualizations of various data sets giving illumination of a company’s state of affairs. The use of algorithms and machine learning is also a viable criterion in gathering, sorting, and analysis of huge volumes of data that humans cannot perform. They are sources of data-driven decision-making credible for any company. This paper examines the importance of data in assessing organizational performance and performing decision analytics. Types of data in assessing Organizational Performance An example of data in an organization is financial data. Financial data is concerned with the financial well-being of an organization. Through financial analysis, a company can evaluate financial data to ascertain organizational performance. Corporate authorities and investors use financial statements to determine the company’s viability in business. For instance, corporations use internal financial data to examine organizational performance while investors use external data to check if the company is fit for investment. There are various metrics that provide various insights into the efficiency of the company. They include; profits, revenue, return on investment, earnings per share, and other key performance indicators. These data can be derived from income statements, balance sheets, annual reports, and cash flow statements all derived from the company’s financial earnings. The balance sheet is u