Ly -E) pe Business a id aaa =2 = (eT 1 Le De (©) GBBWO@ SS ITAPPLIcATION TOOL IN BUSINESS 0"SIME eco ae ey & Re ene eae oe) = PCO me nae Ce Ue eS aCe aU) fi presentation of data to support improved decision Eee Reo cue re SUCRE ae as analysis in an easy to understand manner that the layman can understand.es (econ aon Re incu Sess Somer To} It provides unique insights that allow business, operational, and fraud managers to access, track, and analyze valuable transactional information. + IMPROVE FORECASTING To increase forecasting accuracy, you have to study your customers, know industry trends, and cee ae + INCREASE SALES Sales analytics refers to the technology and processes used to gather sales data and gauge sales CR eS CC ea On nh ae future sales and revenue more accurately. aaw Pe or RIC soe ec ete. ven sy See en un See tues Saale oa eed is eeu Ro ed ee cna involves identifying and removing expenditures that do not provide added value to customers RC eee ate ecOTEK CO ER SI OO eee wee Me eu een ce eed = understanding of analytics, and a healthy appreciation of the limitations of Re CR Oe cme mer cer eae oy fi cet Pe ere Rg ee eee eon eae tS een ean Oe eee ene ere erreur eee ee + The educational requirements for being a data scientist are quite rigorous — requiring a mastery of statistics, math, and computer programming.Ce plnea en usc ence Seco 9 Pe sO ee eC RM C Cae OL L Parente a Cece RC RCC ec eur nee et CeCe oa ee oon Cee N Meee ur OOo CE ee ne uo Oe ONS uo US Coe Sn Sn ma Pat eR Cts + people who understand the business as well as the business analytics technology, while also ee tue eRe COU k Css eee eee Rs eum resCUR St)PCN TCM Cen Cee NID) & aha CLE aT Geman oo cid Oe ecu ne CCE ec uence oy OCU Ete a eee otc co aa Ce ee Ocoee ete er Ce geen ene eee Cake} One en costae eee Cu nn a IWRC UM te tea oR eC ecu eo CO eeu eC eee) production plan that will maximize profit subject to certain limitations on raw Cos—d/ > Mer eCe Neen NID) PMT eCMT (OS 2 Reporting and, Quenying Tools OS Ca a se Oca the data they need to solve a problem or identify an opportunity. Reporting and Cr ee ee Coca Cent CCRC formatted data, graphs, and charts. Many of the reporting and querying tools enable end users to make their own data requests and format the results without the need Oe nan cn» ee EM ea cLmOR oe 5 Data Visualisation Tools = OO eMac ne Ce ec eget eee fi brain works such that most people are better able to see significant trends, patterns, and CIS ene Rann ee ee ace Ud spreadsheets. Asa result, decision makers welcome data visualization software that presents DSC n + In addition, representing data in visual form is a recognized technique to bring immediate seu ea ee ee een RC MOET CCoe creating visual representations that can immediately reveal otherwise difficult-to-perceive PCa eae So aee Ensen aOeR oe 5 Data Visualisation Tools ? + Many companies now troll Facebook, Google Plus+, LinkedIn, Pinterest, Tumblr, Twitter, and other social ee Oe en ae eee Nc eCcae raw data and immediately provide a rich visual that reveals precisely who is talking about the product eee ace eC te ee Ce um enue Sere en Seen eae Wee ee ce + Aword cloud is a visual depiction of a set of words that have been grouped together because of the frequency of their occurrence. Word clouds are generated from analyses of text documents or a Web page. Using the text from these sources, a simple count is carried out on the number of times a word or eeslam » MDa es eae DNL Man ear Oy at Vaualiztin Toes ans ae 6] $450| ac Meer ear OM Ly Bata Visualisation Tools ? See eee nec ea Ree ena) making the decision to buy your product and ere ue Oe NS uaa eo Ce Uae ES Cet en) CCE Sc oe te To eens Conta taeim ee Ensen aOeR oe 5 ry & Online Analytical Processing fi Online analytical processing (OLAP): A method to analyze multidimensional data from many different perspectives, enabling users to identify issues and opportunities as well as perform trend analysis Poe ee ec ee ee ne) Cee RE ee i eee nace aCe Cy Pree eee ee eon eee Smee esr) along the metric dimension axis shown in Figure 9.5. The time dimension might be a specific day (e.g.. ‘September 30, 2018), whereas the geography dimension might define a specific store (e.g... Krogers in the Cincinnati, Ohio community of Hyde Park).6 Online Analytical Processing Teo 3 rs i a ee eS preaggregation of detailed data into useful data summaries in anticipation ‘of questions that might be raised, For example, data cubes can be built to summarize unit sales of a specific item on a specific day for a specific store. ee ee nee ete eet ey ee eee ee eee ee gered ae en ere ee eens eee ue ees eae Prone ee Ce eC ey information on unt sales on a given day, week, month, or fiscal quarter.Oa ee Ensen aOeR oe 5 y 4 Online Analytical Processing ? a ec Ra CR eee Oe eM ea Oe CUCM aC eae Ma een Ree on PE ene eae Ce eR ae Re Cog Tae CURL In the retail industry, OLAP is used to help firms to predict better customer demand and maximize sales. Starbucks employs some 149,000 workers in 10,000 retail stores in the United States. The firm built a data warehouse to hold 70 terabytes of point-of-sale and customer loyalty data. This data is compressed into data cubes of summarized data to enable users to perform OLAP BEEN eee er ceca eeu ctrw, in Lcd NUTTIN sh ear UT KIA scart 8 5a 4| ORO Cea kc eae eC eM eae Cemented en cee ee esa card CIOs Oe ene narra n al colar sei PRN MCC Rim inea-eim ile enna» ee MeN ea OE N Nao 9 FB WAIL KEGILEADION fi SUN ur er Mee UR ke RCL RO Se cS Roe eo Cire cue neu Cen Ruane Ce eau rh er nea Oe tn ue a) Cea UCR ei ua Tec cr) Cent CRA ieee RACs Oe Cee eet Orem ea ue» Lcd NUTTIN sh ear UT KIA scart FB The following key assumptions must be satisfied when using linear regression on a Pome ts Se CUA a Cun Se uu OU Rei MRC acne See tune CORA a ECs Eu ako a See ene aR UCR Re een eRe‘© Lcd NUTTIN sh ear UT KIA scart FB OVEN nor ocr emt eee Roa cy patterns to predict future trends and behaviors for use in decision yee Benen mu cl ge et ne eta eae Deon neta aea ee ace ea Pent ages‘© Lcd NUTTIN sh ear UT KIA scart bata Mining BUCS Na Ee) are Tae Sees forthe ee Restor bt eee ee eee eT) eee eee ee Crean eee acc Snetieecn tn eee esc oe cuueuy eee rene ote ata See eee eRe hereon eae eee Ree at a) recognize patternsFi aicrvny ole adres re Tyg (CRISP-DM) Sree amc Coane Tiree Recs oe 1c) rated =} _— ate Meco Mmeunc emaane 7 = Mining Goals for each phase of CRISP-DM ‘Business understanding 1 business goals for the data mining projet, convert the goals Into a pe Etat eee ie inte ee Data understanding Gather data to be used (may involve multiple sources), become familiar withthe data, Seal Wicd ca qe pretloras Gace of a wletng daa al eos mh iment, etc.) that must be addressed. Data preparation 1 data to be used, clean data to address quality issues, and transform data le for analysis Mo . nodeing techn Evaluation . ne model achieves busin Deployment del i ization’ decision-making pon Cee es ee WO eRe oe 3 Ley Perborumance Indicator HPL. | Dn ae ST eee erate oer iid objectives and goals and consists of a direction, measure, target, and time frame. The following are examples of well-defined KPIs: +For a university. Increase (direction) the five-year graduation rate for incoming freshman (measure) to at Coe e ee CL URI Ci teen t-c CR BSC eet aa eC ed Ro rece oe eee) within the first four rings (measure) to at least 90% (target) within the next three months (time frame). OU er Uru Cn CU ee eR ae RC aad CO IUCR Coa eee Cus oe CeOLe OOO MG Man Ce § 8 xa» iy A presentation ofa set of KPIs about the state of a process ata specific point in time. if Dee ee ea Oe Ero oe CU aC ce ed Cen CRESS eee uae een ent eC Dashboards provide users at every level of the organization the information they DER Ru Ee Coeverses i Ws AND ANALYTICverses NOTE Mann CoaCSTs nM es ea Ne Rae Me | 5 Sele- Serwice Analytica ? Se eee Ite Mom teem Ucar macnn eee eg eee nr eran Ce ieur Ree Mice Ren aC uune tg caecum Pra Okie ane See Ie Reis tec eee node AON RR erreur data recorded integrate at one place. Using a self-service analytics application, end users can gather eee UCN Rta MeO ms ent Coa Maret Come UC Reece Cr lcm crm geno free erie ee Rene en eck Me a Bere ne eee Meus uma ce enuePIN Cen NUTTIN CSN eae a MAT CMD LO IK Sel- Seawice Analytica eae see ame eee eee Mae ten Cee ise Ce MU ccmunm at Mur Metre iit Winnie Xo Male lanl X-el data scientists and/or information system resources. It also frees Tema) resources to do higher-level analytics work. Ideally, self-service EVarWaelecmiite lead to faster and better decision making. hdOe i CANT Sc ena eee ee irae cea Pete ag rec ec er Chena! Cre Reet ue eM ue aaa information systems staff involvement in routine tasks. Modern data management Geos see Rene are eed ono eae UE AE Ulh ieee accuse Gel ene ss aE OMe Cen eae)CSTs nM es ea Ne Rae Me | 5 Fs ew eke eee ee ae ORO Tee es Tel RA eee ee Reg eee ace ee aU ee a ecu ner ace ea Cnn oe eek ee Cees training. Microstrategy, Power, Bl Qlik, SAS Analytics, Tableau, and TIBCO Software are just a few examples of the dozens Cee Ie eae ie eR Rtg ee coe ee ene aeeM CeCc) analysis models that offer connections to a range of data sources, along with secure connections to corporate data to expert Storybooks are tools for creating sophisticated data visualizations to help users find relevant facts and discover patterns and relationships to make predictive decisions.Widely used B1 software ‘Autonomy IDOL” Power BI forOracle Intelligence Hyperion? Offers a collection of enterprise BI technology and applications; tools includ: ing an integrated array of query, ceporting, analysis, mobile analytics, data integration and management, desktop integration, and financial performance ‘management applications; operational BI applications, and data warehousing, Provides software modules to enable financial management; modules include those for budgeting, planning, and forecasting; financial reporting; database management; financial consolidation; treasury management; and analytics, Provides software modules to support query and analysis, perform OLAP processing, and create customizable dashboards; the software integrates with Microsoft Office Offers a suite of applications that enable users to design and generate reports, create interactive dashboards that contain charts and graphs for visualizing fa, and create ad hoc queries and analysis of data; also allows users to ceaPros and cons associated with self-service Bl and analytics Gets valuable data into the hands of the people who need Ie the most—end users, Encourages nontechnical end users to make decisions. based on facts and analyses rather than intuition, Accelerates and improves decision making. Business people can aecess and use the data they need for decision making, without having to go to technology ‘experts cach time they have a new question, thus Billing the gap caused by a shortage of trained data scientists. If not well managed, it can create the risk of erroneous analysis and reporting, leading to potentially damaging ‘decisions within an organization. Different analyses can yield inconsistent conclusions, resulting in wasted time trying to explain the differences. Seli-service analytes can also result in proliferating “data islands,” with duplications of time and money spent on analyses, Can lead to over spending on unapproved data sources and business analytics tools, Can exacerbate problems by removing the checks and balances on data preparation and use, Without strong data governance, organizations can end up with lots of silos of | information, bad analysis, and extra costs.tars ae Fd and God Bless | (@| @]HO@ \ IT APPLICATION TOOL IN BUSINESS ®20%"