By mining demographic data from comment or warranty cards, the retailer could develop products and promotions to appeal to specific customer segments. And, it enables them to determine the impact on sales, customer satisfaction, and corporate profits.
This is because the source of differentiation advantage comes from creating superior products, adding more features and satisfying varying customer needs, which results in higher cost structure.
What is a value chain? Analyzing Business Unit Interrelationships Interrelationships among business units form the basis for a horizontal strategy.
Data are transformed or consolidated into forms appropriate for mining by performing summary or aggregation operations, for instance. Decision makers require access to information from all sources.
Please post a new question with specific information about the error. It is called process because uniform standard system has been maintained to undertake such a task.
To identify the truly interesting patterns representing knowledge based on some interesting measure. This can be achieved with data warehousing and data mining. What Is a Value Chain Analysis?
At the end of the process, customers can enjoy high-quality products at lower costs. The support activities help the primary functions and comprise the following: Since MIS is a very important component of Value Chain Analysis, a business must ensure that the data is accurate as well as comprehensive.
Data mining is the process of determining how all that data correlates to each other. Significance of BPR Business process are a group of activities performed by various departments, various organizations or between individuals that is mainly used for transactions in business.
Such interrelationships may exist simultaneously in multiple value chain activities. ES, DSS, AI discussed later allows business to be conducted in different locations, provides flexibility in manufacturing permits quicker delivery to customers and supports rapid paperless transactions among suppliers, manufacturers and retailers.
After identifying the primary and support activities, businesses should identify the cost drivers for each activity. Describe the need of MIS in an organization? Employees work in team comprising of managers and engineers to develop a product. Procurement is how the raw materials for the product are obtained.
Consider the case in which the design of a product is changed in order to reduce manufacturing costs. Nowadays, competitive advantage mainly derives from technological improvements or innovations in business models or processes.
What is its significance? Unfortunately, attempts to achieve synergy from the interrelationships among different business units often fall short of expectations due to unanticipated drawbacks. It will also be possible to reduce the overall time required to complete an activity.
Latest software is used and accordingly the business procedures are modified, so that documents are worked upon more easily and efficiently. So it is found that there is necessity of a typical architecture for data mining as a big process.
Value curves are relatively simple but a powerful tool. After identifying all value chain activities, managers have to focus on those activities that contribute the most to creating customer value.
Porter, who also developed the Five Forces Model to show businesses where they rank in competition in the current marketplace, discussed the value chain concept in his book " Competitive Advantage: This Server is responsible for fetching the relevant data 3 Data mining engine: MERGE exists and is an alternate of.
The best combination of them should be used to pursue sustainable differentiation advantage.Nov 07, · Question of assignment is – “What is meant by value chain? Explain its significance in MIS?” Explain its significance in MIS?” The connection between the producers and buyers may be reinforced, at least to the level of customer loyalty, and perhaps.
Value Chain The value chain also chain as value chain analysis is a concept from business management that was first described and populated by Michael Porter in A value chain is a chain of activities for activities for a firm operating in a specific industry.
What are Value Chain Analysis & describe its significance in MIS? Explain what is meant by BPR?
What is its significance? How Data warehousing & Data Mining is useful in terms of MIS? Answer: Business Process Re-engineering Data relevant to the analysis task are retrieved from the database.
4. Data transformation: Data are transformed. A value chain is the series of activities that a business performs in order to deliver a product or service to the marketplace.
The value chain method is significant due to i t being a powerful tool for analysis and strategic planning for the business model. Once the value chain is defined, a cost analysis can be performed by assigning costs to the value chain activities.
The costs obtained from the accounting report may need to be modified in order to allocate them properly to the value creating activities. Since MIS is a very important component of Value Chain Analysis, a business must ensure that the data is accurate as well as comprehensive.
This can be achieved with data warehousing and data mining. Data warehousing is the task of combining immense volumes of data in one place.Download