1. Whotis business analy #c5? Explain all the three com ponents of by siness analy Hes in desl. Ans) Business analy #es, a data managem entsoluton and business intelligence subset, refers » the vse of methodologies such as data mining, predictive analy #es, and statistical analy sis in order © analy 22 and transform dow indo useful information, iden4 Ay and onfcipate tends and ov tomes, and ul fm oxely make smarter, data-driven business decisions. The three components are: 1 PredictveA naly tes 2.DotrA ggregaton 3. Dati M ining N) PredictreA naly tes Based on he dota, one can create predictive analy Hes thot ill acevrotely make predicfons in certain event. This componentof analy ¢cs helps companies understand whatm ay happen in te near fure and help hem prepare for it. Predictve analy tes helps know when there is going be a failure or wearand tear in equipmentifithas been subjected harsh conditons or has been used fora cermin amountoftme. Halso helps classify custmers in detail, and also make decisions based on tuwre tends. 2)D ata A ggregaton Dotais collected one single, cental locaton from where sorting canbegin. Thaccu rate and incom plete dota is removed and only usable data is leftbehind. Even duplicate dais checked for and removed completely. This data is collected from vorious sources. O ne form is volunteered dat. This datris ken from digital and physical forms thathare been filled outby the consumers. This form is token directy ois hen from a third pary. The other form of data source is #actonal data. This data is shared by organizations and is collected from banking tansactons, sales records, and shipping records. 3) Dota M ining To further go deep in the daw, Data M ining is the nex tstep look for unknown pattems and trends. For this, one has mine through a huge amounto fda by creating mining models. Various siistes models are used. 0 ne of those models is classificaton demographics and other such param exers are used for sorting dota. Th she regression model, basedon the hisrical paterns, you can predictnumerical values. A nd ano-her popular method is clustering where classificaton factors are be predicted so you whatvariables to use.