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a) Two possible applications of word embedding in business
Word embedding is widely used in ‘Natural Language Processing (NLP)’, which is a sub-field of machine learning.
One of the applications of word embedding can be found in analyzing the survey response. Word embedding solves a common business problem of not having enough tools and time to effectively and easily analyse the survey responses. Vect...
Information is an asset in today’s generation. The direction towards which the modern world is moving is greatly dependent upon the way information are exchanged, stored as well as encoded in the form of data and decoded again as a form of information (Sun et al., 2017). Both data and information are used in businesses worldwide for better functioning of it. However, to earn competitive advantage and to bring effect...
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In this report the a brief overview of how business analytics and its methods like descriptive, perspective, exploratory and predictive analytics techniques as applied in different industries and the business process is to form strategies in business, providing better customer service and increase the efficiency of operation is illustrated. The above analytical methods are as a whole known as the data mining process in w...
Due to technological advancement and globalization, many industries have had a share of their disappointments due to high level of competition. Many companies within various industries have adopted different ways of remaining in the market including embracement of technology. One of the industries that have been hard hit is the international travel and tour industry (Cooper, 2011). There has been an upsurge in the number ...
Business analytics may be defined as the underlying technologies, skills and practices meant for past business performance investigation coupled with exploration using iterative process with the objective of gaining insight with regards to future performance of business and aid in planning process. It is noteworthy that while business analytics does refer to past performance but it is primarily with the objective ...
Task A: Literature review
Decision making is completely dependent on the brain's cognitive functions. Between the different options, the brain chooses is the best option for us, by adding values to it. There are various theories that describe the level of cognitive functions of the brain and its Association with the decision making power of human being (Vlaev et al. 2011). One of the most important theories in the cognitive stati...
Theories of the contribution of the brain in decision making are conventionally derived from the economic theories of decision making criteria. In the expected utility theory options are singled and associated with a numerical value to define its utility before the decision maker goes for the option that maximises utility. From the theory, we can naturally conclude that the brain can estimate the optical choices by assig...
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