PREDICTIVE ANALYTICS

Lesson 1

1. Explain why Analytics will be the next competitive edge.

2. Give an example on how predictive business analytics (PBA) allows

organizations to make decisions.

Lesson 2

True or False

Instruction: Identify if the below statement is "True" or "False".

1. Predictive Business Analytics supports an organization's need for a capability to anticipate future events,

forecast their possible outcomes, and select actions and decisions that affect its

business results, operational capabilities, response to changing market and

industry dynamics, and recruitment and retention of critical people, skills, and

competencies.

2. The leading obstacle to widespread analytics adoption is lack of understanding

on how to use analytics to improve business.

3. Data can be interpreted in many ways.

4. Predictive Business Analytics should be provided to users when, where, and how they need it.

5. The quality of management information expected by internal business users is

expanding both in terms of the range of data to be considered and the level of

required analysis.

Lesson 3

1. What are the guiding principles for Predictive Business Analytics set by the

International Federation of Accountants (IFAC) that are intended to be globally

adopted? Explain each.

Lesson 4

1. What are the two major components considered in developing a continuous

framework for Predictive Business Analytics to be effectively deployed by an organization?

2. Identify the three key steps in developing a framework.

3. Enumerate the eight-stage process of creating major change.

Lesson 5

1. What are the benefits of a good performance management system?

2. What is the role of change management in the implementation of predictive

analytics?

3. Discuss the four critical elements necessary in integrating a performance

management program.

Lesson 6

Explain how predictive analytics help in the human resource management

function.

Lesson 7

Discuss how companies can utilize data in improving their business to avoid

failure.

Lesson 8

Differentiate Business Intelligence, Business Analytics, and Enterprise

Performance Management. (30 pts)

Lesson 9

As a manager, provide three (3) ways on how to address resistance to change

from your employees.