Why is it important to manage resources effectively when implementing business analytics within an organization? What can go wrong if resources are not effectively managed? What do you consider to be the most important resource in these types of projects?
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This is important because it helps an organization to make confident decisions and helps drive operational efficiency. When an organization can effectively manage resources, they could deliver products and services on a more consistent basis. As when an organization improves and manages its resources, they improve their ability to gather, analyze and drawing conclusion and projections. Regardless of an organizations size, resources are extremely important, as they are what helps an organization conduct its business effectively and efficiently across the board, in effort of generating the maximum benefit for the organization overall. The most important resource within an organization and its management is human capital. Whereas its employees are major contributors to organizations profit and worth. Whereas their abilities, knowledge and experience are irreplaceable, as it Allows an organization the ability to make decisions, improve production, meet deadlines as well as complete task in a timely fashion, , overall, more profitable.
Incorrect management of resources can be costly for an organization with time and money being wasted, a rip and poor teamwork effect employee productivity, again costing the company money. Therefore, it is important that they plan for long-term as well as short-term, take a systematic approach, use technology whenever and wherever possible, and utilize the appropriate software and other tools. As humans are an important resource, but they make errors, and it is always good to have on board.
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