Answering Questions

Answering Questions
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Answering Questions
Discuss the decisions to outsource services and production
Well planned and reviewed outsourcing decisions form a crucial part in enhancing the development and high productivity in an organization. From that, firms need to consider several factors deciding on outsourcing services and production. Some of them include cost efficiency which is a primary consideration, and the more cost-efficient service or production is the high the profit. Another factor is the business reputation which defines how available a requirement is. Innovation plays as a company’s primary consideration where the more innovative a service or production is, the better the future of a firm (“How Predictive Analytics Helps Finance Teams Get Ahead” n.d). Communication and collaboration act as any businesses’ blood through which information flows. It is crucial for a company to consider that when planning to outsource services and production. The last critical consideration is the calculated risk that comes with the outsourced services and production. The factor determines the profitability and likelihood of the business to succeed.
Discuss how business analytics can predict company profits
Companies are using predictive analysis to accomplish various objectives among them being predicting profits. Revenue prediction is one of the works that the analysists which help in forecasting demand, customer data and the sales that a company should expect in the future.

Also, predictive analysis helps in analyzing black spots or instances where loses can happen in the course of doing business (Rossi, 2015). With that, an organization can model a follow up where they can maintain customer and ensure constant operations. A business analysis will engage in assessing vast amounts of raw data so that they can come up with various factors such as how to identify fraud and improve the supply chain. With that, an organization can avoid misappropriation of funds and direct the money to improve supply chain and hence predict profits.
References
“How Predictive Analytics Helps Finance Teams Get Ahead”. Go.Oracle.Com, https://go.oracle.com/how-predictive-analytics-helps-finance-teams-get-ahead?bcid=4091659625001. Accessed 29 Nov 2018.
Rossi, Ben. 2015, “The Top Five Things To Consider When Outsourcing”. Information Age, https://www.information-age.com/top-five-things-consider-when-outsourcing-123459436/. Accessed 29 Nov 2018.