Furkan's MBA Portfolio Blog

In the contemporary business environment, the capacity to make sound decisions is a fundamental aspect of effective management. However, biases in decision-making frequently impede objective judgment, resulting in suboptimal outcomes. As part of the Business Perspectives course, this module highlights the importance of statistics, data visualization, and big data in facilitating informed and objective decision-making. By attaining proficiency in statistical methods, recognizing biases, and applying visualization tools, students can bridge the gap between analytical rigor and practical decision-making. The Role of Statistics in Business Decision-Making Statistical analysis provides the foundation for data-driven decision-making by offering tools for descriptive analysis, probability assessments, and regression modeling. Proficiency in these skills enables professionals to transform raw data into actionable insights. As posited by the Forbes Business Council (2022), frameworks such as Le...

Understanding Operations Management: The Core of Business Success The field of operations management serves as the foundation for the success of any organization. It is the indispensable function that guarantees the uninterrupted production of goods and services, thus enabling businesses to satisfy customer demands while optimizing the utilization of resources. The role of operations management is of paramount importance in both the manufacturing of physical products and the delivery of intangible services. It is a key factor in determining efficiency, customer satisfaction, and profitability. What is Operations Management? At its core, operations management is concerned with the design, supervision, and improvement of processes that transform resources—which may include raw materials, labor, or technology—into goods and services. Goods are tangible items, such as machinery, clothing, or food. In contrast, services are activities that add value in terms of time, location, or form, ofte...