To understand the reach and scope of business analytics, let's undertake an independent activity. Understand the following scenario and follow along:

For the purpose of this discussion, pick a company/institution of your choice - you are free to choose the firm that you are working with, or, if you are unemployed, you may choose one from an industry that you know about well. If you are a student, you can take the case of your college/university as well - after all, every institution uses data to draw insights today.

Now suppose the accessibility of data as a barrier has been removed. You can collect all the data you need - resources are not an obstruction. Note down five possible outcomes that you can now achieve for your company/institution. To keep it relevant, think about them from a business perspective.

Now evaluate those outcomes in the present context - keeping in mind the constraints of your company, the resources you might have, the problems with accessing the data, the business viability, etc. Consider what your competitors might be doing and whether the solutions are possible at scale.

For all your possible outcomes, discuss why it is possible or why it is not possible. Discuss the areas in which your company/institution is lagging behind and the developments that could help improve the outcomes.

Note that you are not expected to know all about the capabilities of either your institution or analytics in general. The purpose of this discussion is to stimulate your analytical thinking. Comment on your peers' answers and develop a critical review of all points presented.