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ABFM MODULE -D
Chapter :23 BUSINESS ANALYTICS AS MANAGEMENT TOOL
What we will study?
* All About Business Analytics as Management Tool?
INTRODUCTION:
Business analytics (BA) refers to the combination of skills,
technologies, and practices that are used to analyse the
data and performance of an organisation in order to gain
insights and make decisions in the future, that are driven by
data.
Statistical analysis is one of the most common methods
used in business analytics.
Business analysis is to determine which datasets are
valuable and which have the potential to boost revenue,
productivity, and efficiency.
BA may be used to make accurate predictions of future
events that are related to the activities of consumers, and
trends in the market.
It can also help create more efficient operations, which
could contribute to an increase in revenue, if it is used to its
full potential.
Data Mining History and Origins:
During late 1980s and early 1990s, data warehousing,
business intelligence, and analytics technologies began to
develop.
These innovations provided an enhanced capability to
evaluate the ever-increasing amounts of data that
organisations were creating and gathering.
By the year 1995, when the First International Conference
on Knowledge Discovery and Data Mining was held in
Montreal, the phrase "data mining" was already in common
usage.
The Association for the Advancement of Artificial
Intelligence (AARI), which also hosted the conference on an
annual basis for the subsequent three years, was the
organisation that was responsible for sponsoring the event.
The conference, which has been held annually since 1999
and is commonly referred to as KDD 2021 and so on, is
primarily coordinated by Special Interest Group on
Knowledge Discovery in Data (SIGKDD),
Which is part of the Association for Computing Machinery
that focuses on knowledge discovery and data mining.
In 1997, the first issue of a specialised journal called Data
Mining and Knowledge Discovery was released to the
public.
It was once published on a quarterly basis, but it is now
published on a biweekly basis and has articles on data
mining and knowledge discovery that have been vetted by
experts in the field.
In 2016, a second publication known as the American
Journal of Data Mining and Knowledge Discovery was made
available to readers.
ESSENTIALS OF BUSINESS ANALYTICS:
There are numerous different applications for Business
Analytics (BA)
When it comes to commercial enterprises, BA is most
commonly used to:
* Analyse data coming from a range of different sources.
Anything from cloud applications to marketing automation
tools and customer relationship management software
could fall under this category.
* Find patterns within the data sets by employing more
complex analytics and statistical methods.
These patterns can assist you in predicting future trends
and providing you with new information regarding
consumers and the behaviours they engage in.
* Keep an eye on key performance indicators (KPIs) and
trends as they evolve in real time. Because of this, it is much
simpler for companies to not only store all of their data in a
single location but also draw correct and speedy conclusions
from those data.
* Back and support decisions based on the most recent
available facts. Because BA gives us access to such a large
amount of data that we can put to use in support of
business decisions, we can be certain that we are well-
informed not only for one but also for multiple distinct
scenarios.
When it comes to applying BA, there is no single strategy
that is more significant than the others; it all depends on
what our final aim is.
TYPES OF ANALYTICS:
When you apply these four different types of analytics, your
data can be cleansed, examined, and digested in such a way
that makes it feasible to produce answers for any
difficulties that your organisation may be facing.
Descriptive analytics:
This method involves the interpretation of historical data
and key performance indicators to discover patterns and
trends.
Using methods such as data aggregation and data mining,
this makes it possible to get a comprehensive view of
events that have occurred in the past as well as those that
are occurring at the present time.
Numerous businesses today make use of descriptive
analytics to gain a more in-depth understanding of the
actions taken by their customers and the ways in which
they may better direct their marketing efforts toward those
customers.
Diagnostic analytics:
This type of analysis focuses on previous performance to
understand which factors drive particular trends.
This can be accomplished through the use of drill-down,
data discovery, data mining, and correlation to uncover the
reasons behind particular occurrences.
After arriving at a knowledge of the likelihood of an event
and the reasons why an event may occur, algorithms are
utilised for classification and regression.
Predictive analytics:
This is the practice of applying statistics to estimate and
evaluate future outcomes by employing statistical models
and techniques derived from machine learning.
In many cases, the conclusions of descriptive analytics are
used in this manner to construct models that determine the
likelihood of particular outcomes.
It is common for sales and marketing teams to employ this
type in order to forecast the opinions of specific clients
based on data collected from social media.
Prescriptive analytics:
This approach makes use of data on previous performance
to make recommendations for how similar situations should
be managed in the future.
This particular kind of business analytics not only forecasts
results, but it also has the ability to make suggestions
regarding the particular activities that need to take place in
order to get the greatest potential conclusion.
Deep learning and sophisticated neural networks are
frequently used to accomplish this goal.
The purpose of this type of business analytics is often to
match different solutions to the immediate requirements of
a customer.
The current state of the company's operations will play a
significant role in determining which approach to pursue.
ELEMENTS OF BUSINESS ANALYTICS:
When one takes a more in-depth look at business analytics,
the method of business analytics that we choose to use is
going to be contingent on the end-goal that we establish for
ourselves before beginning the process.
The various elements of business analytics are as follows:
1. Data Mining
2. Text Mining
3. Data Aggregation
4. Forecasting
5. Data Visualisation
Data Mining:
Data mining is the process of searching through big data
sets in order to find patterns and relationships that, when
analysed, can assist in the resolution of issues that arise in
commercial enterprises.
Enterprises now have the ability to forecast future trends
and make better informed business decisions thanks to the
methodologies and tools for data mining.
The process of extracting meaningful information from data
sets is known as "data mining," and it is one of the
fundamental disciplines that make up "data science."
Data mining is a step in the knowledge discovery in
databases (KDD) process, which is a data science approach
for obtaining, processing, and analysing data.
KDD is an acronym for knowledge discovery in databases.
Data mining and knowledge discovery and data mining are
two different concepts, despite the fact that they are
sometimes used interchangeably.
The information that it generates can be put to use in
applications for business intelligence (BI) and advanced
analytics, both of which involve the examination of
historical data.
Additionally, the information can be put to use in
applications for real-time analytics, which look at streaming
data as it is being created or collected.
Data mining that is done well can be of assistance in the
planning and management of numerous elements of
corporate operations and strategies.
This covers services such as marketing, advertising, sales,
and customer support that directly interact with customers.
It also includes functions like as production, supply chain
management, finance, and human resources.
The prevention of fraud, management of risks, and planning
for cybersecurity are only few of the many important
business uses that data mining serves.
Data Mining Process: How does it Work:
Data mining is often carried out by data scientists in
addition to other qualified experts in the business
intelligence and analytics fields.
Machine learning and statistical analysis are two of its
fundamental components, coupled with data management
operations that are carried out in order to get the data
ready for analysis.
Mining massive data sets, such as customer databases,
transaction records, and log files from web servers, mobile
apps, and sensors, has become significantly simpler thanks
to the implementation of machine learning algorithms and
other artificial intelligence (AI) tools.
This has resulted in a greater degree of process automation.
The process of data mining can be split down into four basic
steps, which are as follows:
Data collection:
It is determined which data are pertinent for an analytics
application, and then they are compiled.
The data could be stored in a variety of source systems, a
data warehouse, or a data lake, the latter of which is
becoming an increasingly typical repository in big data
contexts and is comprised of a combination of structured
and unstructured data.
There is also the possibility of utilising data from external
sources.
In order to continue with the process after the data has
been collected from its original location, a data scientist will
frequently relocate it to a data lake.
Data preparation:
During this stage, a series of actions are carried out to get
the data prepared for the mining stage.
It begins with the exploration, profiling, and pre-processing
of data, and then moves on to the job of data cleansing to
correct errors and other issues related to the data's quality.
It is also necessary to convert data in order to keep data
sets consistent.
This is the case unless a data scientist intends to do an
analysis on raw, unfiltered data for a specific application.
The Data Mining Process:
After the data has been prepared, a data scientist will select
the proper data mining technique, at which point they will
apply one or more algorithms in order to mine the data.
Before being applied to the whole set of data, the
algorithms that are used in machine learning applications
often need to be trained on smaller sample data sets to
search for the information that is being sought after.
The interpretation and analysis of the data:
The findings from data mining are incorporated into
analytical models, which are then utilised to guide decision-
making and other aspects of business operations.
It is the responsibility of the data scientist or another
member of the data science team to explain the findings to
business executives and users.
This is typically accomplished through the use of data
visualisation and methodologies that are based on data
storytelling.
Types of Data Mining Techniques:
Various techniques can be used to mine data for different
data science applications.
A common data mining use case that is enabled by multiple
techniques is pattern recognition.
Anomaly detection, which seeks to identify outlier values in
data sets, is another data mining use case that is enabled by
multiple techniques.
The following categories of data mining methods are among
the most common:
Data mining using association rules:
When mining data, if-then statements known as association
rules are used to determine the connections between
different data elements.
Support and confidence are two of the criteria that are
utilised in the process of evaluating the relationships.
Support is a measurement of the frequency with which the
related elements appear in a data set, and confidence is a
reflection of the number of times an if-then statement is
accurate.
Classification:
Using this strategy, the components of the data sets are
partitioned into the various categories that have been
established as part of the data mining process.
Among the many classification methods available, some
examples include decision trees, Naive Bayes classifiers, k-
nearest neighbour, and logistic regression.
Clustering:
As part of the data mining applications, the data elements
that have certain characteristics in common are grouped
together into clusters.
Some examples of clustering methods are k-means
clustering, hierarchical clustering, and Gaussian mixture
models.
Regression:
Calculating predicted data values based on a set of variables
is another method that can be utilised in the process of
discovering relationships hidden within data sets.
Some examples of regression include linear regression and
multivariate regression.
Regressions can be done with decision trees and other
classification methods too, such as some of those
classification methods.
Sequence and path analysis:
Data can also be mined to look for patterns in which one set
of events or values leads to later ones.
This type of pattern can be used to predict future events.
Neural networks:
The functioning of the human brain can be modelled using a
system of computer programmes known as a neural
network.
Deep learning is a subfield of machine learning that is
considered to be a more advanced form of the field overall.
Neural networks are particularly helpful in pattern
recognition applications that involve deep learning.
Data Mining Software and Tools:
There are a large number of companies that offer data
mining tools, and these products are generally packaged as
part of larger software platforms that contain a variety of
other types of data science and advanced analytics tools.
Data preparation capabilities, built-in algorithms, support
for predictive modelling, a graphical user interface (GUI)
based development environment, and tools for deploying
models and scoring how well they perform are among the
most important aspects offered by software designed for
data mining.
Alteryx, AWS, Databricks, Dataiku, DataRobot, Google,
H2O.ai, IBM, Knime, Microsoft, Oracle, RapidMiner, SAP,
SAS Institute, and Tibco Software are among the many
vendors that offer solutions for data mining.
Other vendors include SAS Institute and Tibco Software.
Data mining can also be accomplished with the assistance of
a number of other free and open-source technologies, such
as Data Melt, Elke, Orange, Rattle, scikit-learn, and Weka.
There are some software manufacturers that also offer
open source option(s).
For instance, Knime is able to manage data science
applications by combining an open source analytics
platform with commercial software.
Other businesses, such as Dataiku and H2O.ai, provide free
versions of their respective technologies.
Benefits of Data Mining:
The improved capability of data mining to discover
previously hidden patterns, trends, correlations, and
anomalies in data sets is the primary source of the benefits
that data mining provides to businesses as a whole.
Combining traditional data analysis with predictive analytics
is one way that this knowledge can be put to use to
enhance the processes of decision-making and strategy
planning in commercial enterprises.
The following is a list of specific benefits that come with
data mining:
Increased productivity in terms of marketing and sales:
Mining consumer behaviour and preferences for patterns
can help marketers better understand client preferences,
which in turn enables them to develop more targeted
marketing and advertising campaigns.
In a similar vein, sales teams can leverage the results of
data mining to enhance lead conversion rates and market
additional products and services to clients who have already
purchased from them.
Improved quality of service to customers:
Because of data mining, businesses are able to detect
possible problems with customer service in a more timely
manner and provide contact centre personnel with up-to-
date information that can be used during phone calls and
online chats with customers.
Improvements in the management of the supply chain:
Companies are able to recognise patterns in the market and
make more accurate projections about the demand for their
products, which enables them to better manage their
stockpiles of goods and supplies.
The information obtained through data mining can also be
utilised by supply chain managers in order to optimise
warehousing, distribution, and other logistics operations.
Increased production uptime:

The mining of operational data from sensors installed on
manufacturing machines and other industrial equipment
supports predictive maintenance applications.
These applications help to identify potential problems
before they occur, which helps to avoid unscheduled
downtime.
Stronger risk management:
Business executives and risk managers are in a better
position to evaluate the financial, legal, and cybersecurity
threats that a firm faces and to devise strategies for
mitigating those risks.
Reduction in cost:
Mining data helps drive down costs by improving
operational efficiencies in business processes and cutting
down on unnecessary spending and redundancy in
corporate spending.
In the long run, actions pertaining to data mining can result
in increased revenue and profits, in addition advantages
that differentiate businesses from their industry
contemporaries.
Industry Examples of Data Mining:
Listed below are some of the ways in which businesses
operating in certain sectors make use of data an element of
their analytics applications:
Retail:
Online merchants can better focus their marketing efforts,
advertisements, and promotional offers to individual
customers by mining consumer data and tracking shoppers'
click streams on the internet.
Data mining and predictive modelling are the driving forces
behind recommendation engines, which make suggestions
about potential purchases to website users.
These technologies are also used in the management of
inventory and supply chains.
Financial services:
Data mining technologies are utilised by financial
institutions such as banks and credit card firms in order to
construct financial risk models, identify fraudulent
transactions, and validate loan and credit applications.
Data mining is also an essential component of marketing
and is essential for determining whether or not existing
clients have prospects for upselling.
Insurance:
Data mining is utilised by insurance companies to assist
with the pricing of insurance policies as well as the
determination of whether or not to approve policy
applications.
This process also includes risk modelling and management
for prospective clients.
Manufacturing:
Applications of data mining for manufacturers include work
to enhance uptime and operational efficiency in production
plants, as well as product safety and the performance of
supply chains.
Entertainment:
Streaming services mine user data to determine what
people are watching or listening to on their platforms, and
then utilise this information to provide personalised
suggestions based on users' viewing and listening
preferences.
Healthcare:
The ability to diagnose medical diseases, treat patients, and
analyse X-rays and other medical imaging results is made
possible with the use of data mining.
Data mining, machine learning, and various other forms of
analytics are also extremely important to the field of
medical research.
Text Mining:
Text mining, also known as text data mining, is the process
of converting unstructured text into a structured format in
order to find relevant patterns and fresh insights.
Companies are able to investigate and identify hidden links
within their unstructured data when they employ advanced
analytical approaches such as Naive Bayes, Support Vector
Machines (SVM), and other deep learning algorithms.
Within databases, text is one of the types of data that is
used the most frequently.
This information might be arranged in the following ways,
depending on the database:
Structured data:
This data has been standardised into a tabular format,
which consists of several rows and columns.
This makes it much simpler to store and handle for the
purposes of analysis and machine learning algorithms.
Inputs like names, addresses, and phone numbers are all
examples of the kinds of things that can be included in
structured data.
Unstructured data:
This data does not adhere to any particular data format that
has been standardised.
Text from various sources, such as social media or product
reviews, as well as rich media formats, such as video and
audio files, may be included in this section.
Semi-structured data:
This information is a combination of structured and
unstructured data forms, as the name of the data set
suggests.
Although it is organised to some degree, it does not possess
the necessary level of structure to fulfil the prerequisites of
a relational database.
Files written in XML, JSON, and HTML are all examples of
types of data that are considered semi-structured.
Text mining is an immensely helpful activity for
organisations to implement due to the fact that the
majority of data in the world is stored in an unstructured
manner.
Text mining tools and natural language processing (NLP)
approaches, such as information extraction, enable us to
transform unstructured materials into a structured format,
which in turn enables analysis and the development of high-
quality insights.
This, in turn, leads to improved decision-making within
organisations, which in turn leads to improved outcomes
for businesses.
Text Mining Techniques:
Text mining is a process that involves deducing information
from unstructured text data by using a series of activities
that are included in the process.
Text pre-processing is the practise of cleaning and
transforming Text data into a format that can be used.
Before you can apply various text mining techniques, you
must first begin with text pre-processing, which is the
practise.
This methodology is an essential part of natural language
processing (NLP), and it typically entails the application of
processes such as language identification, tokenization,
part-of-speech tagging, chunking, and syntax parsing in
order to appropriately format data for analysis.
After the text has been pre-processed to your satisfaction,
you will be able to apply text mining algorithms to the data
in order to gain insights.
The following is a list of some of the more common text
mining techniques:
The retrieval of information:
Information retrieval, also known as IR, is the process of
locating and delivering pertinent data or documents based
on a predetermined list of queries or phrases.
IR systems make use of algorithms to monitor user activities
and identify data that is pertinent to those activities.
The process of information retrieval is utilised frequently in
library catalogue management systems as well as in popular
search engines such as Google.
The following are some examples of typical IR side jobs:
Tokenization: refers to the process of separating a lengthy
piece of text into individual sentences and words that are
referred to as "tokens."
After that, these are incorporated into models, such as bag-
of-words, that are used for text clustering and document
matching activities.
Stemming: is the process of removing prefixes and suffixes
from words in order to determine the form and meaning of
the root word.
This is referred to as "stemming." This method decreases
the amount of space required for indexing files, which
results in improved information retrieval.
Natural Language Processing:
Natural language processing is an offshoot of computational
linguistics that draws on techniques from a variety of fields,
including computer science, artificial intelligence, linguistics,
and data science, to give computers the ability to
comprehend spoken and written forms of human language.
NLP subtasks allow computers to "read" by analysing
sentence structure and grammar, which gives them the
ability to do so.
Typical examples of subtasks are as follows:
Summarization: is a method that condenses lengthy
passages of text into a concise and logical overview of the
most important aspects of a document.
This method provides a synopsis of the text.
Part-of-speech (PoS) tagging: is a method in which a tag is
assigned to each token in a document based on the part of
speech that the token denotes, such as nouns, verbs,
adjectives, and so on.
Following this step, semantic analysis can be performed on
unstructured text.
Text categorization: This task, which is also known as text
classification, is responsible for analysing text documents
and classifying them based on predefined topics or
categories.
In other words, this task is responsible for text
classification.
When it comes to classifying synonyms and abbreviations,
this subsidiary task is especially useful.
Sentiment analysis: is a task that identifies positive or
negative sentiment from internal or external data sources.
This gives you the ability to monitor changes in customer
attitudes over the course of time.
It is frequently utilised to provide information about
people's opinions regarding various brands, products, and
services.
These insights have the potential to propel businesses
toward connecting with customers and improving processes
as well as the user experiences they provide.
The Extraction of Information:
When searching through a variety of documents,
information extraction (IE) brings to the surface the
pertinent pieces of data.
In addition to this, the emphasis is placed on the extraction
of structured information from free text and the storage of
information regarding entities, attributes, and relationships
in a database.
The following are examples of common information
extraction sub-tasks:
Feature Selection:
The process of selecting the important features
(dimensions) that will contribute the most to the output of
a predictive analytics model is referred to as feature
selection, which is also known as attribute selection.
Feature Selection:
The process of selecting a subset of features in order to
improve the accuracy of a classification task is referred to as
feature extraction.
This is of utmost significance when attempting to reduce
the number of dimensions.
Named-entity recognition:
also known as entity identification or entity extraction,
seeks to locate and classify particular entities in text, such
as names or locations.
This can be accomplished by searching for and analysing the
text.
For instance, NER recognises "Mary" as a female name and
"California" as the name of a place in the world.
Data Aggregation:
The process of collecting raw data and presenting it in a
summary format for the purposes of statistical analysis is
referred to as data aggregation.
For instance, raw data can be aggregated over a specified
amount of time to provide statistics like the average, the
lowest, the maximum, the sum, and the count.
Following the aggregation of the data and its subsequent
writing to a view or report, you will be able to perform an
analysis on the aggregated data in order to get insights on
specific resources or resource groupings.
There are two different approaches to accumulating data:
Time aggregation:
Every single data point that pertains to a single resource
over a particular time period.
Spatial aggregation:
Every single data point for a collection of resources over a
predetermined amount of time.
Time Intervals for Data Collection and Aggregation:
Within the context of a number of different time intervals,
data is compiled and shown in a view or report as follows:
Time frame for reports:
This refers to the time frame that encompasses the
collection of data prior to its dissemination.
For instance, a resource summary table can include data
that was gathered for a specific network device over the
course of a single day.
A reporting period could contain raw data points as well as
aggregated data points (data that has not been aggregated).
The time intervals supported for reports are: daily, weekly,
monthly, quarterly, and yearly.
Granularity:
Granularity is defined as the time frame during which
individual data points for a specific resource or collection of
resources are gathered for the purposes of aggregation.
For instance, the granularity would be five minutes if you
wanted to get the average of the data points for a particular
resource that were gathered over the course of five
minutes.
Granularity can range anywhere from one minute to one
month, depending on the view or report type, as well as the
time period being analysed.
Data View is capable of dynamically aggregating data down
to a granularity of less than one day.
Data Channel aggregates data for larger granularity values.
Voting time period:
The length of time over which the frequency with which
resources are sampled for data is established is referred to
as the voting time or polling period.
For illustration's sake:
A set of resources may be surveyed once every five minutes,
which would imply that a data point was produced for each
resource once every five minutes.
The output of a spatial aggregate can be affected by a
number of factors, including polling period and granularity.
For illustration's sake:
Let’s say you want to determine the average of a collection
of data points that were gathered for a group of devices
over the course of ten minutes (the granularity).
The result is the average of the single data points acquired
from each device, and if the polling period is also 10
minutes, this is what is calculated.
If, on the other hand, the polling time is only 5 minutes,
then each device is only sampled once over the 10 minute
granularity period.
The aggregated result is the average of all of the data points
that were obtained, which includes the individual data
points that were gathered for each resource during the first
polling period as well as the individual data points that
were gathered during the second polling session.
Forecasting:
The process of making predictions about what will occur in
the future by taking into account what has happened in the
past and what is happening in the present is referred to as
forecasting.
In its most fundamental form, it is a decision-making tool
that examines previous data and patterns with the goal of
assisting organisations in dealing with the impact of the
unpredictability of the future.
It is a tool for planning that gives companies the ability to
map out their next steps and set budgets that will ideally
cover any unpredictability the future may bring.
Forecasting Methods:
When companies wish to make educated guesses about
what might take place in the future, they have the option of
choosing between two fundamental approaches: qualitative
and quantitative approaches.
1. Qualitative Research Approach:
The qualitative approach of forecasting, which is sometimes
referred to as the judging method, generates subjective
findings because it is based on the personal judgements of
experts or forecasters.
Because the process of creating forecasts is not based on
mathematics but rather on the knowledge, intuition, and
experience of the experts making them, there is a high
likelihood that the forecasts will contain errors.
One illustration of this would be if a person were to predict
the outcome of a finals game in the NBA.
Which, of course, would be influenced more by their own
personal drive and interest.
The possibility of error is one of the shortcomings of using
such a strategy.
2. Quantitative Technique:
The quantitative technique of predicting is based on a
mathematical procedure, which gives it the qualities of
being consistent and objective.
It avoids based the results on opinion and intuition, opting
instead to use enormous volumes of data and statistics that
are then interpreted, as opposed to basing the results on
opinion and intuition.
Features of Forecasting:
The following is a list of some of the characteristics of
creating a forecast:
1. Involves future events:
Because they are used to make predictions about the
future, forecasts are an essential part of the planning
process.
2. Covers recent and historical occurrences:
Opinions, intuition, and educated estimates, in addition to
facts, numbers, and other pertinent data, are the
foundations around which forecasts are constructed.
All of the components that go into the formation of a
prediction are, to some extent, a reflection of what has
occurred with the company in the past as well as what is
anticipated to take place in the foreseeable future.
3. Uses various techniques of forecasting:

The quantitative methods are utilised by the majority of
firms, notably in the processes of planning and budgeting.
The Process of Forecasting:
In order to get reliable results, forecasters need to follow a
methodology that is both detailed and methodical.
The following are some of the stages that make up the
process:
1. Establishing a foundation for future projections:
Developing the foundation for the study of the company's
state and determining where the company is now
positioned in the market is the first stage in the process.
This step also marks the beginning of the process.
2. Formulating projections for the company's ongoing
business activities:
The first part of the forecasting process involves conducting
an investigation.
The second part of the forecasting process involves
estimating the future conditions of the industry in which
the company operates, projecting and analysing how well
the company will do, and making projections based on
those analyses.
3. Making adjustments to the forecast:

This entails going back through the many forecasts that
have been made in the past and contrasting them with the
actual events that have transpired with the company.
The disparities between historical data and the most recent
projections are broken down and analysed, and the factors
that led to the differences are taken into consideration.
4. Taking a look back at the steps:
At each stage, there is a check, after which tweaks and
improvements are done.
Data Visualisation:
The process of representing data through the use of popular
graphics, such as charts, plots, infographics, and even
animations, is referred to as data visualisation.
These visually appealing representations of information
simplify the communication of complicated data
relationships and insights that are generated by data in a
way that is easy to grasp.
It is crucial to highlight that the usage of data visualisation is
not limited to data teams alone; it can serve a number of
functions, and its use is not limited to that.
It is also utilised by management in order to communicate
the organisational structure and hierarchy, whilst data
analysts and data scientists utilise it in order to uncover and
explain patterns and trends.
According to Harvard Business Review (link sits outside
IBM), the primary functions of data visualisation may be
broken down into the following four categories:
Idea creation, idea illustration, visual discovery, and
everyday dataviz. The expanded coverage of these topics is
as under:
The practise of using data visualisation to stimulate new
idea development across teams is becoming increasingly
popular.
They are usually put to use during the brainstorming or
design thinking sessions that take place at the beginning of
a project.
These sessions support the collection of various points of
view and bring attention to the concerns that are shared by
the group as a whole.
Even though initial visualisations are typically not polished
or improved in any way, they assist build the foundation
within the project to ensure that the team is on the same
page regarding the problem that they are trying to address
for important stakeholders.
The practise of using data visualisation to illustrate a
concept is helpful in communicating an idea, such as a
strategy or method.
It is most commonly used in educational environments such
as tutorials, certification courses, and centres of excellence;
however, it can also be used to represent the structures or
processes of organisations, thereby facilitating
communication between the appropriate individuals for a
given set of duties.
Gantt charts and waterfall charts are two types of charts
that are widely used by project managers to describe
workflows.
Visual discovery and day-to-day data visualisation are
increasingly integrated with the work of data teams.
Visual discovery assists data analysts, data scientists, and
other data professionals in locating patterns and trends
within a dataset.
Every day data visualisation, on the other hand, is beneficial
to the subsequent storytelling that takes place after a new
insight has been discovered.
The process of data science includes a crucial stage called
data visualisation, which assists teams and individuals in
more effectively communicating data to their co-workers
and decision makers.
It is essential to keep in mind, however, that this is a set of
talents that can and should be expanded outside the scope
of your core analytics team.
Types of Data Visualisation:
The Egyptians, who lived before to the 17th century, are
credited with developing the first kind of data visualisation,
which was primarily utilised to aid with navigation.
As time went on, people began to use data visualisations for
a wider variety of applications, including those in the fields
of economics, social sciences, and health.
Dashboards are useful data visualisation tools for tracking
and visualising data from many data sources.
They provide visibility into the consequences of certain
behaviours on performance, whether such behaviours are
carried out by a team or by a team that is next to it.
The following are examples of common visualisation
approaches included in dashboards:
Ables:
This is a grid with rows and columns that can be used to
compare different variables.
Tables have the ability to display a large amount of
information in an organised manner; but, they also have the
potential to overwhelm viewers who are only seeking for
high-level patterns.
Pie charts and stacked bar charts:
Both of these types of graphs are broken up into portions
that each reflect a different component of the total.
They offer a straightforward method for arranging data and
contrasting the proportions of the various constituent parts.
Line graphs and area charts:

These are graphical representations that depict how one or
more quantities have changed over time by plotting a set of
data points in a certain order.
Area charts connect data points with line segments,
stacking variables on top of one another, and utilising
colour to differentiate between variables.
Line graphs use lines to depict these changes, whereas area
charts connect data points with line segments.
Histograms:
This graph depicts a distribution of numbers using a bar
chart (with no spaces between the bars), reflecting the
quantity of data that falls within a given range.
Histograms do not have any spaces in between the bars.
An end user can easily spot anomalies within a dataset with
the assistance of this graphical representation.
Scatter plots:
These graphics are helpful in revelling the link between two
variables, and they are widely employed within the analysis
of regression data.
Scatter plots can be found in regression data. However,
these are sometimes confused with bubble charts, which
are used to represent three variables via the x-axis, the y-
axis, and the size of the bubble.
In this case, however, the bubble charts are used to display
three variables.
Heat maps:
These are handy graphical representations that allow for
the visualisation of behavioural data according to location.
This can be a spot on a map, or it could even be a webpage.
Tree maps:
Tree maps present hierarchical data as a set of nested
forms, most often rectangles; these maps are becoming
increasingly popular.
Tree maps are an excellent tool for comparing the
proportions of different categories based on the size of their
respective areas.
EXCEL PROFICIENCY:
The ability to edit text documents, develop templates, and
automate the generation of tables of content in Microsoft
Word is often required to be considered proficient in
Microsoft Office.
Being proficient with Excel requires being able to execute
and create functions, pivot tables, and charts.
The following is a list of the numerous Excel skills that need
to be Kept up to date:
1. Spreadsheets
2. Workbooks
3. Formulas
4. Data Linking
5. Pivot Tables
6. Charts
7. Data Analytics
8. Macros and Automatization
9. IF Statements
10. Data Validation
BIG DATA ANALYTICS:
Big data analytics is the application of more advanced
analytical methods to very large, diverse data sets.
These data sets might be organised, semi-structured, or
unstructured, come from a variety of sources, and range in
size from terabytes to zettabytes.
Big data is a term that refers to data sets that are so large or
complex that typical relational databases are unable to
effectively record, manage, or process the data in a timely
manner.
This form of data is known as unstructured data.
Big data can be characterised by high volume, high velocity,
or high diversity, or all three of these properties
simultaneously.
The rise of artificial intelligence (AI), mobile, and social
platforms, as well as the Internet of Things (IoT), are all
contributing to an increase in the complexity of data
through the introduction of new forms and sources of data.
For instance, big data can be derived from sensors, devices,
video/audio, network, log files, transactional applications,
the web, and social media, with a significant portion of it
being in real time and on a very large scale.
Big data analysis enable analysts, academics, and business
user to make better judgments, more quickly, using data
that was previously either inaccessible or unsuitable.
Businesses have the ability to gain new insights from
previously untapped data sources by using advanced
analytics techniques such as text analytics.
These techniques can be used in conjunction with the
business’s already existing enterprise data.
Uses of Big Data Analytics:
Big Data Analytics can be used for the following purposes:
a) Enhancing the integration of the customers Gathering
data that is structured, semi-structured, and unstructured
from the various touch points that customers have with the
firm in order to obtain a comprehensive understanding of
the client’s action and the factors that motivate them so
that we many better personalised marketing.
Data sources can include social media, sensors, mobile
devices, sentiment and call log data.
b) Detecting and minimising frauds
Monitoring transactions in real time and staying on the
lookout for strange patterns and behaviours that could
indicate fraudulent activity.
Companies are able to deflect and prevent fraud by utilising
the power of big data conjunction with predictive and
prescriptive analytics, as well as the comparison of
historical and transactional data.
c) Improving the efficiency of the supply chain.
Collecting and examining large amounts of data to figure
out how items get to their final destination highlighting
areas of inefficiency as well as opportunities to cut costs
and save both time and money.
Tracking vital information from the warehouse to its final
destination with the use of sensors, logs, and transactional
data is possible.
The use of big data analytics in the following six industries
has been explained below:
1. Manufacturing
2. Retail
3. Health Care
4. Oil & Gas
5. Telecommunication
6. Financial Services
1. Manufacturing:
The manufacturing industry has been completely disrupted
by the digital revolution.
Manufacturers are now finding new methods to harness all
of the data that they generate in order to enhance the
efficiency of their operational processes, streamline their
business procedures, and uncover important insights that
will drive both profits and growth.
a. The practice of predictive maintenance:
Big data can assist in the prediction of equipment failure.
Analysis of structured data (including the year, make, and
model of the equipment) as well as analysis of multi-
structured data might lead to the discovery of potential
problems (log entries, sensor data, error messages, engine
temperature, and other factors).
With this information, manufacturers are able to maximise
the amount of time that their components and equipment
are operational and reduce the amount of money spent on
maintenance.
More than simply the breakdown of equipment can be
forecast with the help of this data.
It is essential to many production processes to accurately
forecast the remaining optimal life of systems and
components in order to guarantee that the final product
will meet all of the requirements specified.
Losing tolerance for something, even if there is no physical
damage, can be just as detrimental as failing at anything.
For instance, during the production of pharmaceuticals, a
defective but otherwise functional component may
introduce either an excessive or inadequate amount of the
active ingredient.
b. The effectiveness of operations:

One of the areas in which big data can have the largest
impact on a company's profitability is the operational
efficiency of the business.
Big data gives you the ability to study and evaluate
production processes, provide a proactive response to
feedback from customers, and anticipate future demand.
c. Production optimisation:
Increasing revenue while lowering costs is possible if
production lines are optimised.
Using big data, manufacturers may better analyse the
movement of things through their manufacturing processes
and determine which sectors could stand to gain from the
change.
The examination of the data will show which processes
contribute to an increase in production time as well as
which regions are creating delays.
2. Retail:
Retail is an industry with a lot of strong competition.
Companies constantly work to find new ways to set
themselves apart from competitors.
The usage of big data is prevalent throughout the entirety
of the retail process, from product projections and demand
forecasting to in-store optimization and inventory
management.
Retailers are discovering new avenues of innovation by
utilising big data.
a. Product development:
The use of big data helps us to anticipate the demand from
customers.
We can create predictive models for new products and
services by first identifying important characteristics of
completed and ongoing product offers, and then modelling
the relationship between those characteristics and the
degree to which the offerings were successful commercially.
We can dig deeper for planning, producing, and introducing
brand-new products with the help of the data and analytics
gleaned from focus groups, social media, test markets, and
early store rollouts.
b. Customer experience:
The competition for consumers has been becoming more
and more intense day by day.
Big data gives merchants a more accurate picture of the
customer experience, which they can utilise to hone their
business practices.
Companies are able to optimise customer interactions and
maximise the value offered to them if they collect data from
social media platforms, website visits, phone records, and
other company interactions, as well as from other data
sources.
The analysis of large amounts of data can be utilised to
make customised offers, decrease customer turnover, and
improve proactive problem resolution.
c. Customer lifetime value:
All customers are valuable. However, there are some that
are more precious than others.
Big data gives you insights on consumer behaviour and
spending habits, allowing you to determine which
customers are the most valuable to your business.
When you have a better understanding of who they are,
you will be able to better target marketing efforts at them.
They are able to receive more attention from sales staff.
It is possible for customer service to take a more aggressive
approach if it appears that the customer is unhappy and
may quit the company.
d. The in-store shopping experience:
The in-store experience may be enhanced by the utilisation
of big data.
A growing number of retailers are beginning to evaluate
customer data obtained through mobile apps, in-store
purchases, and geolocations in order to improve
merchandising and persuade customers to make full
purchases.
e. Pricing analytics and optimization:

Retailers have a responsibility to understand the true
profitability of their client base, the various ways in which
markets might be divided up, and the scope of any
prospective future opportunities.
A review of profits and margins throughout the entire
business process can be of assistance in locating chances to
increase pricing as well as places in which profits may be
being lost.
3. Healthcare:
Big data is being used by healthcare organisations for a
variety of purposes, including boosting profitability and
assisting in the prevention of patient deaths.
Companies in the healthcare industry, hospitals, and
researchers all acquire vast volumes of patient data.
However, none of this information is useful in and of itself.
After the data has been analysed to identify patterns,
threats, and trends, this becomes a critical consideration in
order to develop predictive models.
a. Genomic research:
The study of genomics may benefit significantly from the
application of big data.
Researchers are able to find illness genes and biomarkers
using big data, which can assist patients in pinpointing
potential health problems they may encounter in the
future.
The findings might potentially make it possible for
healthcare companies to develop individualised treatment
plans.
b. Patient experience and outcomes:
The goal of healthcare organisations is to increase both the
treatment they provide and the quality of care they deliver
without raising prices.
Big data enables them to improve the quality of care
provided to patients in the most time- and money-effective
manner.
With the use of big data, healthcare organisations are able
to construct a full-circle perspective of patient care as the
patient moves from one treatment to another and from one
department to another.
c. Claims fraud:
There may be hundreds of reports related with a single
healthcare claim, and these reports can be presented in a
wide range of ways.
Because of this, it is very challenging to check the
correctness of insurance incentive systems and to identify
trends that point to fraudulent behaviour.
The use of big data to highlight particular behaviours for
further investigation enables healthcare organisations to
discover potentially fraudulent activity.
d. Healthcare billing analytics:

The bottom line can benefit from using big data. When
companies perform data analysis on their billing and claims
processes, they are able to identify missed revenue
opportunities and spots where payment cash flows can be
improved.
This use case entails integrating billing data from a variety
of payers, analysing a huge volume of that data, and then
finding activity patterns included within the billing data.
4. Oil and Gas
Big data has been utilised by the oil and gas industry for the
previous few years in an effort to discover novel approaches
to innovation.
The use of data sensors to measure and monitor the
performance of oil wells, machinery, and activities has been
widespread within the industry for some time now.
Utilizing this data has enabled oil and gas companies to do a
wide variety of tasks that add value to their operations,
such as monitoring well activity, developing models of the
Earth to locate new oil sources, and many more.
a. Predictive equipment maintenance:
Oil and gas businesses frequently lack visibility into the
state of their equipment, particularly in distant offshore and
deep-water sites.
This is especially the case in remote places.
Big data can be of assistance by offering insights that enable
businesses to predict the remaining optimal life of their
systems and components.
This enables businesses to make certain that their assets
continue to function at the highest possible level of
production efficiency.
b. Oil Exploration and Discovery:
The search for oil and gas may be a very pricey endeavour.
However, corporations may make educated decisions about
new drilling sites by utilising the large amounts of data
created during the process of drilling and production.
The data provided by seismic monitors can be utilised to
uncover new oil and gas sources by finding traces that were
previously overlooked.
This can be accomplished by recognising traces that were
not detected.
b. Oil production optimization:
The output of oil from wells can be optimised with the help
of unstructured data from sensors and historical records.
Companies are able to measure the production of wells in
order to better understand utilisation rates when they
create prediction models.
Engineers will be able to pinpoint the cause of real well
outputs not matching their projections once they do more
in-depth data analysis.
5. Telecommunications:
The rise in popularity of smart phones and other mobile
devices has presented enormous expansion potential for
the organisations that specialise in telecommunications.
Managing an ever-increasing volume of data while
simultaneously trying to keep up with the needs of
customers for ever-more innovative digital services
presents enterprises with a number of difficulties.
a. Optimize network capacity:
The success of a telecommunications company depends on
having an optimally performing network.
Utilization analytics of a company's network can assist the
company in locating regions with surplus capacity and
rerouting bandwidth as required.
The analysis of big data can help them plan for investments
in infrastructure and build new services that are tailored to
satisfy the needs of customers. With the help of fresh
perspectives, telecommunications companies are able to
keep the loyalty of their customers and prevent revenue
loss to rivals.
b. Telecom customer churn:
Telecom companies are able to forecast the level of overall
customer satisfaction by conducting an analysis of the data
they already possess regarding the service quality,
convenience, and other criteria.
They are also able to put up warnings for when clients are
on the verge of leaving.
Allowing them to intervene with retention campaigns and
other proactive offers.
c. New product offerings:
The important insights that may be gleaned from big data
can assist businesses in the development of new goods and
functionalities.
When businesses have a better grasp of how customers
behave, they are better equipped to cater their services to
the various types of consumers they serve in the future.
6. Financial Services:
Big data is being utilised to the fullest potential by banks
and other businesses in the financial services industry.
Big data has enabled businesses in the financial services
industry to gain a competitive advantage in a variety of
areas, including the capture of new market opportunities
and the reduction of fraud.
a. Fraud and compliance:
When it comes to safety, the problem isn't just a few of
unscrupulous hackers.
The industry that provides financial services is competing
against full teams of experts.
Despite the fact that both the threat landscape and the
compliance standards are always changing. with the use of
big data.
businesses are able to recognise patterns that point to
fraudulent activity and to combine vast volumes of
information in order to simplify regulatory reporting.
b. Drive innovation:
Big data may provide enterprises with insightful
information that can help them develop.
The interdependencies that exist between persons,
institutions, entities, and processes become increasingly
obvious when big data analytics are performed.
Organizations are able to improve their decision-making
about new products and services if they have a better
awareness of the trends in the market and the needs of
their customers.
c. Anti-money laundering:
As a result of governments enacting anti-money laundering
rules, businesses that provide financial services are under
more pressure than they have ever been before.
Because of these restrictions, financial institutions are
required to provide evidence of adequate care and file
reports of suspicious conduct.
Big data analytics may be able to assist businesses in
recognising possible instances of fraud in a highly complex
industry.
d. Financial regulatory and compliance analytics:
Companies that provide financial services are required to
adhere to a wide number of regulations pertaining to risk,
behaviour, and transparency.
At the same time, financial institutions are obligated to
comply with the Dodd-Frank Act, Basel III, and any other
rules that call for extensive reporting.
Importance of Big Data Analytics:
Big data analytics enables businesses to get control of their
data and make better use of it to discover new
opportunities.
Because of this, subsequent corporate decisions are wiser,
operations are more efficient, profits are higher, and
consumers are more satisfied.
Companies that combine their use of big data with more
advanced analytics can increase their value in a number of
different ways, including the following:
1. Reducing cost:
When it comes to the expense of keeping vast amounts of
data, big data technologies such as cloud based analytics
can drastically lower such costs (for example, a data lake).
In addition to this, big data analytics assists businesses in
discovering new and more effective ways to conduct their
operations.
2. Speedier and quality decisions:

Businesses are able to rapidly evaluate information and
make quick decisions based on that analysis thanks to the
speed of in-memory analytics, which, when paired with the
capacity to study new sources of data, such as streaming
data from the internet of things (IoT), is extremely helpful.
3. Developing and marketing new products and services:
Through the use of analytics, companies can gain the ability
to provide customers with exactly what they want, when
they want it by understanding their demands and how
satisfied they are with their experiences.
With the use of big data analytics, more businesses now
have the opportunity to create innovative new products to
satisfy the ever-evolving requirements of their customers.
How does Big Data Analytics Work:
The term “big data analytics" refers to the process of
collecting, processing, cleaning, and analysing massive
datasets with the goal of assisting businesses in
operationalizing their big data.
1. Collection of Data:
The collecting of data takes on a variety of forms across
organisations. With the technology available today,
businesses are able to collect both structured and
unstructured data from a wide range of sources, including
cloud storage, mobile applications, in-store Internet of
Things sensors, and more.
A portion of the data will be kept in data warehouses,
which are locations that are conveniently accessible by
business intelligence tools and solutions.
Raw data or data that has not been structured can be
stored in a data lake.
If the data is too diverse or complicated for a warehouse, it
can be allocated metadata and stored in a data lake instead.
2. Processing of Data:
In order to achieve reliable results from analytical queries,
the data must first be properly organised after they have
been collected and stored.
This is especially important when the data is both vast and
unstructured.
The amount of data that is now available is expanding at an
exponential rate, which presents a difficulty for companies
that need to process that data.
Batch processing, which looks at huge data blocks over a
period of time, is one of the processing options available.
When there is a longer turnaround time between gathering
data and analysing it, batch processing is a valuable
technique to utilise.
Stream processing examines relatively small batches of data
all at once, cutting the amount of time that passes between
data collection and analysis so that decisions can be made
more quickly.
Processing data in streams is more difficult and typically
more expensive.
3. Data Cleaning:
In order to strengthen the results and increase the quality
of the data, it is necessary to clean the data.
This means that the data must be correctly formatted, and
any redundant or irrelevant information must be removed
or accounted for.
Incorrect data can obscure and mislead, which ultimately
results in inaccurate insights.
4. Analysis of Data:
Getting huge data into a useful form takes time. When it is
ready, sophisticated analysis procedures can transform
large amounts of data into meaningful insights.
The following are examples of these strategies for analysing
huge data:
Data Mining:
The process of data mining involves sorting through massive
datasets to find patterns and linkages.
This is accomplished by locating data outliers and forming
data clusters.
Predictive analytics:
This is a method that analyses the past data of an
organisation in order to create forecasts about the future
and to spot potential threats and opportunities
Deep learning:
This imitates human learning patterns by employing
artificial intelligence and machine learning to layer
algorithms and uncover patterns in the most complicated
and abstract data.
This is accomplished through the use of the "deep learning"
technique.
Big Data Analytics Tools and Technology:
The analysis of large amounts of data cannot be reduced to
a single instrument or piece of technology.
Instead, you'll need a combination of different kinds of
technologies to help you collect, process, clean, and analyse
large amounts of data.
The following is a list of some of the most important actors
in big data ecosystems:
a) Hadoop:
Is an open-source system that stores and analyses large
datasets on clusters of commodity hardware in an efficient
manner.
This framework can manage massive amounts of structured
and unstructured data, and it is free to use.
Because of these features, it is an invaluable component for
any big data activity.
b) NoSQL databases:
Are non-relational data management systems that do not
require a fixed scheme.
Because of this, they are an excellent choice for large
amounts of raw data that are not structured.
These databases, whose name comes from the phrase "not
simply SQL," are able to deal with a wide variety of data
models.
c) MapReduce:
Is a key component Hadoop's framework, and this
framework serves two different purposes.
The first step is called mapping, and it distributes data to
different nodes within the cluster using various filters.
The second step is called "reducing," and it involves
organising and condensing the results obtained from each
node in order to respond to a query.
d) "Yet Another Resource Negotiator"
is what "YARN" stands for full. it is yet another component
of the Hadoop system of the second generation.
The job scheduling and resource management in the cluster
can be improved with the assistance of the cluster
management technology.
e) Spark
Is an open-source cluster computing framework that
provides an interface for programming complete clusters by
utilising implicit data parallelism and fault tolerance.
Spark is capable of handling both batch and stream
processing, which enables it to do computations quickly.
f) Tableau
Is a platform for end-to-end data analytics that enables you
to prepare, analyse, collaborate, and share your insights
derived from large amounts of data.
Tableau is a leader in the field of self-service visual analysis,
which enables individuals to pose novel inquiries using
managed big data and to simply communicate their findings
throughout an organisation.
Challenges of Big Data:
Enormous data delivers big benefits, but it also introduces
big issues, such as new privacy and security concerns,
accessibility for business users, and the need to choose the
correct solutions for your company's requirements.
In order for enterprises to make the most of incoming data,
they will need to handle the following issues:
Making big data accessible:
When there is a greater volume of data, it is significantly
more challenging to collect and process the data.
It is imperative that organisations make the usage of data
simple and accessible to individuals with varying degrees of
expertise.
Maintaining data quality:
Due to the large amount of data that needs to be
maintained, businesses are devoting more time than they
ever have before to the process of checking for mistakes,
inconsistencies, conflicts, and duplication.
Data Security:
Privacy and safety are becoming ever more of a worry as
more and more data is collected.
Before organisations can begin to reap the benefits of big
data, they will need to first work toward compliance and
establish data processes that are particularly stringent.
Identifying appropriate tools and platforms:
Continuous innovation takes place in the field of developing
technologies that can process and analyse large amounts of
data.
In order to meet their specific requirements, organisations
have to locate suitable technological solutions that are
compatible with the ecosystems they have already
developed.
The optimal solution is frequently one that is also flexible
and able to adapt to alterations in the underlying
infrastructure at a later point.
WEB AND MOBILE ANALYTICS:

Traditional web analytics and mobile web analytics are two
different approaches to the same research question: how
mobile website users behave.
Mobile web analytics is a term that is used in the business
world to describe the process of collecting data from
customers who browse a website using their mobile
phones.
It is helpful in determining which aspects of the website
work best for mobile traffic and which mobile marketing
campaigns work best for the business.
Some examples of mobile marketing campaigns include
mobile advertising, mobile search marketing, text
campaigns, and desktop promotion of mobile websites and
services.
Data collected as part of mobile analytics typically includes
page views, visits, users, and countries, in addition to
information specific to mobile devices, such as device
model, manufacturer, screen resolution, device capabilities,
service provider, and preferred user language.
This information is referred to as "mobile-specific
information."
This information is generally examined against key
performance metrics for performance and return on
investment in order to enhance the audience reaction of a
website or mobile marketing campaign.
The vast majority of today's smartphones have the capacity
to access the internet, and some even offer browsing
experiences that are comparable to that of traditional
desktop computers.
The W3C Mobile Web Initiative aims to assist websites
better support mobile phone surfing by identifying best
practices for doing so.
In order to optimise their websites for reading on mobile
devices, many businesses are turning to mobile-specific
coding and general best practices such as HTML5 and
Wireless Markup Language.
Platforms:
The various platforms are as follows:
HTML/JavaScript
WordPress Mobile Pack
PHP
NET
Java
Python
ColdFusion
Ruby on Rails
node.js/Connect
TypePad Pro
Each of the aforementioned platforms may make use of a
distinctive set of tracking procedures or methods.
The JavaScript pixel tracking approach is utilised most
frequently when dealing with unsupported or HTML-based
websites.
In addition, mobile web analytics involve metrics and key
performance indicators (KPIs) related with information
about mobile devices, such as the model, manufacturer,
and screen resolution of the device.
These data may typically be pieced together by combining
information about the device's identification that is
extracted via unique HTTP headers, such as user-agents,
with information about the device's capabilities that is
maintained in a device information registry, such as WURFL.
Traditional web analytics systems do not offer this option
because it is tailored specifically for usage on mobile
websites.
Problems with Tracking:
Visitor identification
Visitor identification is both the most critical and one of the
most difficult technological components to achieve in
usable mobile web analytics.
This is partly due to the fact that JavaScript and HTTP
cookies are so unreliable on mobile devices.
Because of this, some systems for mobile web analytics can
only detect or count the number of visits made by users
each day.
The most effective systems provide user identities that are
dependable, enduring, and one-of-a-kind.
This enables an accurate measurement of return visits as
well as long-term client loyalty.
JavaScript page tagging:
When a page is rendered by a web browser, JavaScript-
based page tagging alerts a server that is not associated
with the page.
This approach makes the assumption that the end user's
browser is capable of running JavaScript and that JavaScript
is enabled, despite the fact that it is conceivable for neither
of those things to be true.
However, the majority of modern mobile web browsers do
support JavaScript at this moment.
HTTP Cookies:
HTTP cookies are frequently utilised as a means to mark and
recognise visitors.
All desktop web browsers come equipped with the capacity
to manage cookies.
Because of the proliferation of iPhones and Androids.
HTTP cookies are now supported by the majority of
smartphones.
This is due to the fact that by default, iPhones and Android
phones will accept browser cookies from web sites visited
by the user.
The user of a mobile device can choose to disable cookies,
just like they can in desktop browsers.
Image Tags:
The caching processes of handheld devices have an effect
on the use of images for page labelling.
Image caching on handsets may occur in some
circumstances despite the presence of any anti-caching
headers that may have been generated by the distant
server.
IP address:
When using a desktop machine to browse the web, the
user's identification and location may typically be
determined from the network address of the client
machine.
When using a mobile device to browse the web, the
internet gateway machine that is owned by the network
operator is referred to as the client IP address.
An internet gateway machine that is owned by an operator
and located in either Canada or Norway is indicated by the
IP address of certain devices, such as the BlackBerry and
mobile phones that use the Opera Mini browser.
Collecting Mobile Web Analytics Data:

The collection of data for mobile web analytics requires a
strategy that is distinct from that used for collecting data
for standard web analytics.
There is more than one option accessible, but the one that
produces the best results is the combination of several
different kinds of technologies.
Packet Sniffing:
This method, which can also be referred to as tagless data
capture or passive network capture, involves inserting a tap
between mobile users and the web server in order to record
the entirety of the clientserver conversation.
For mobile web analytics, the use of tagless data capturing
approaches is becoming increasingly popular because these
solutions catch all users, are compatible with all devices,
and do not require JavaScript, cookies, server logs, or
plugins.
Image Tags or Beacons:
It is possible to coerce images into functioning for mobile
web analytics so long as the image that is supplied is always
distinct.
The architecture that is offered by the provider determines
the level of information that can be recorded from these
broadcasts.
Not all image beacon solutions are the same, thus the level
of information that can be recorded varies.
Link Redirection:
Link redirection is an important tool that can be used to
track the activity of mobile visitors.
It is the only method that can reliably record clicks from
marketing operations such as advertising, search, and other
marketing endeavours.
Additionally, it logs visitors' clicks on links that lead them
away from a website.
This solution helps address the problem of mobile devices
not providing HTTP referrer information.
HTTP Header Analysis:
This provides with information on a variety of fundamental
aspects of the mobile phone as well as the browser.
In conjunction with a device database, such as WURFL, it is
possible to use this tool.
IP Address Analysis:
On the basis of the Internet Protocol (IP) addresses of the
operators' internet gateway devices, an operator database
is utilised to determine the operators' countries of origin.
IP addresses on their own are not sufficient to identify all
mobile network providers or nations since some mobile
network operators share their mobile networks with virtual
network operators (MVNO).
One such company is Boost Wireless, which utilises the
Sprint network. It is essential for successful mobile
marketing strategies to clearly differentiate between
operators.
This is because the client demographics of these two
operators couldn't be more different from one another. In
addition, mobile network operators may choose to share
their mobile internet gateways with one another,
sometimes even across the borders of various nations;
additionally, many mobile network operators frequently
alter or add gateways.
WAP Gateway Traffic logs:
Due to the fact that all mobile traffic is routed through
these servers, the WAP gateway logs include a wealth of
information that may be parsed and analysed to yield useful
insights.
There are businesses out there, like OPENWAVE, that
provide software that can examine these logs and deliver
the information that is necessary.
COMPARING WEB VS MOBILE ANALYTICS:
A rising number of customers utilise their mobile devices
every day to engage in activities such as playing games,
accessing applications, and shopping.
The volume of data that is generated is growing at a rate
that is proportional to the rise in the use of mobile devices.
Companies that were quick to grasp this in reference to
eCommerce and online gaming are already conducting
consumer data analysis in order to get insights and boost
their return on investment (ROI).
These businesses recognise that analytics is an essential
component of doing business because it provides them with
data that is both valuable and actionable.
When comparing online analytics solutions with mobile
analytics options, there are several key distinctions that
must be taken into account.
To begin, the structural components of the two distinct
kinds of analytics are not the same in every respect.
In the past, data was mainly created by users of desktop
online applications, and web analytics mostly focused on
metrics such as page views.
This was before the emergence of big data analysis and
mobile handsets, which both become commonplace in
recent years.
These days, web analytics has grown to encompass a wider
range of behaviour-related indicators, such as the number
of new, repeat, and unique users.
The availability of analyses constructed on patterns
produced by user cohorts is widespread.
These more in-depth assessments make it possible to
decrease customer attrition and enhance conversion rates,
particularly in the areas of online shopping and video
gaming.
The focus of mobile analytics is on the user data that is
created by mobile games, applications, and websites that
are accessed on mobile devices.
This clearly includes tracking the amount of page views, the
length of visits, the origin of visitors, and whether or not
they completed an in-app purchase.
Other examples of simple metrics include tracking the
number of visits and the average time spent on each page.
Cohorts are used to categorise users who are similar, while
route analysis is used to understand what users are doing
when using the app and why they are doing it.
More advanced analytics employ both of these methods.
In addition, the location of the user acts as a distinctive
asset and a point of differentiation when compared to
online analytics.
The manner in which people behave when working on a
computer is quite different from how they behave when
using their mobile device, in addition to some of the
technical distinctions noted above.
Downloading and installing an application or game on a
mobile device must be done through the usage of an app
store, which requires the user to be signed in.
Because of this, each user may be tracked with a unique
user name, which enables developers to categorise users
according to date, amount of time spent playing the game,
levels played, location, and other specific characteristics.
Because a user does not have to download anything in
order to utilise the service, it is more difficult to keep tabs
on individual users.
Because of these changes, a product that is designed just for
online analytics will not be suitable for mobile without
some modifications being made.
The concept of "sessionisation" is yet another significant
distinction between web analytics and mobile analytics.
When comparing the two, this is almost certainly going to
be the distinction that stands out as being the most
significant.
It takes place whenever a session ID is generated and saved
in response to a user accessing a website or mobile
application.
Behavioral analytics monitor the length of time a user's
session is active as well as the number of times the user logs
in, which starts a new session each time.
When compared to a mobile device, a user's session on a
desktop or laptop computer is likely to last for a longer
period of time; nevertheless, the user may not access it as
frequently.
The details and the relevance of their analysis can be
correctly analysed by advanced analytics.
Because mobile users tend to interact with an app more
frequently for shorter amounts of time, it is less probable
that a user will leave an app open for a very long period of
time on a mobile device without shutting it.
This is because mobile apps are designed to be used on
smaller screens.
When it comes to mobile, the most important thing is to
figure out how long an app is used by a user and how much
time they actually spend interacting with the app.
When compared to mobile, web analytics presents a
completely other set of obstacles to overcome.
The manner in which users engage with advertisements,
one of the most important sources of revenue for app
developers, will vary greatly depending on the platform.
A user of a web application has the option of installing an
ad-blocker, which will prevent commercials from appearing
at all, or simply ignoring the advertisements and not clicking
on them because the web application has a wider screen.
On the other side, mobile makes it far more difficult for
users to prevent advertisements.
The integration of advertisements into mobile apps is
another factor that contributes to the remarkable success of
in-app purchases.
Having said all of this, web analytics and mobile analytics
may have some notable differences; nevertheless, they are
also getting increasingly intertwined as the distinctions
between mobile devices, tablets, and traditional desktops
continue to blur.
Users now anticipate that a mobile application will be
available to enhance their purchasing experience, whereas
in the past customers may have been satisfied with a
merchant that merely offered an eCommerce website that
was optimised for usage on a desktop computer.
It's possible that they prefer to browse on their desktop
computer at home but complete the transaction on their
tablet, or vice versa.
This indicates that having dedicated web and mobile
analytics may not be sufficient.
Instead, it is necessary to have a solution that is able to
track a user across multiple platforms, focusing on a
customised approach across multiple platforms in order to
make accurate web and mobile analytics available in one
location.
IMPORTANCE OF BUSINESS ANALYTICS:
In a nutshell, the following are the four primary reasons
why business analytics is vital, irrespective of the sector:
a) Boosts performance by providing a clear picture of what
is working and what isn't working for your company
b) Enables choices to be made more quickly and accurately
c) Reduces the likelihood of potential negative outcomes by
guiding a company toward decisions that are optimal in
terms of consumer behaviour, trends, and performance.
d) Inspires change and creativity by providing answers to
concerns surrounding customers.
Business Analytics Examples:

Use cases for business analytics can be found in a diverse
range of sectors and types of businesses.
More and more businesses are coming up with innovative
approaches to exploit the benefits that big data may
provide for them in order to increase their profitability and
provide a better experience for their customers as
technology continues to grow.
For instance, let's imagine you manage a fast-food business.
You might speed up the ordering process for customers who
place their orders utilising the drive-thru by making use of
business analytics.
When you analyse the traffic that the drive-thru receives
with Business Analytics, you will be able to determine your
peak hours and when it is most beneficial to boost your
level of efficiency.
Several well-known companies that deliver meal kits, made
use of business analytics to make predictions about the
demand for their recipes and orders.
They were able to leverage numerous data insights to avoid
food spoilage and fulfil orders owing to predictive analytics,
which allowed them to provide their members a varied
menu of meals for purchase each week.
In addition, they were able to send the meals on time.
In order to accomplish this, these companies may look at
customer-related insights, which comprise of historical data
regarding the frequency with which particular orders were
placed by customers.
There shall be additional data connected to recipes that
concentrated on a customer's preferred recipes from the
past. This data is collected from customers.
In the end, they might look at seasonal trends to see if there
were any purchasing patterns of greater or lower order
rates for a particular time of year.
Specifically, they were interested in whether or not there
are any seasonal trends.
Another company was able to better understand their
clients, improve the user experience, predict altering
preferences, and even detect how tastes in meals change
over time all thanks to predictive analytics.
The Chief Executive Officer of another company, took time
to explain how his company makes use of business
analytics.
“At the Company, we keep tabs on the amount of leads that
we produce as well as the sources of our traffic through the
use of business analytics.
Because of this, we are able to determine which marketing
strategies are successful and which are not.
As a result, we are in a position to improve the performance
of the marketing channels that produce the best results,
eliminate the marketing channels that are not producing
positive results, and drop some of the others."
Benefits of Business Analytics:
There are a variety of advantages to utilising business
analytics, and these advantages are not contingent on the
size of your company or the sector in which it operates.
One of the primary advantages is that it enables your
company to make preparations for unforeseen
circumstances.
The trends in an organization's sales, earnings, and other
critical indicators can be modelled with BA, and then those
trends can be projected into the future.
This gives businesses the ability to see changes that may
take place yearly, seasonally, or on any scale, providing
them with the opportunity to prepare and plan ahead.
It's possible that you'll need to reduce your spending in
order to get ready for a slow season, or perhaps you could
invest in some fresh marketing efforts.
Larger businesses can benefit greatly from the use of BA
because it makes it simpler to forecast order volume and
reduce waste.
Additionally, businesses are able to test out new marketing
initiatives thanks to business analytics.
You will have a better understanding of the impact of your
advertising campaigns on a variety of audiences and
demographics if you use BA because it provides data
regarding customer behaviour.
Additionally, if one is able to determine that a particular
client is unlikely to return, they have the ability to explore
the possibility of delivering targeted deals in the hope of
regaining the customer's business.
Challenges of Business Analytics:
The practice of business analytics may lead any organisation
into various challenges, which the management will need to
handle.
To begin, data analytics will achieve the maximum success,
when all parties inside the organisation fully support its
adoption and execution.
There is going to be an ongoing requirement for buy-in from
top leadership as well as a distinct business strategy.
It might be challenging to get approval from everyone in
senior management for a BA plan; thus, it is important to
ensure that business analytics are presented as
complementary to strategies that are currently in place.
Additionally, this should include goals that are both explicit
and measurable in order to assist those individuals who are
hesitant to be convinced of the benefits of BA.
Business analytics require the engagement of IT, which
means having the appropriate technological infrastructure
and tools in place to manage the data.
Executive ownership is also required for business analytics.
For business analytics to be genuinely successful, the
business and information technology teams need to
collaborate.
While an organisation is at it, it is important that
appropriate tools for managing projects are in place so that
the predictive models can be deployed and an agile strategy
can be used.
It is essential to maintain a firm dedication to the
completed project over the first few months of a data
analytics endeavour.
Maintaining a high level of dedication is essential even
though the cost of the analytics software may be high and
the return on investment may not be realised right away.
Over the course of time, the analytic models will continue
to evolve, and the accuracy of predictions will continue to
rise.
If a company cannot generate enough revenue to cover its
costs during the investment phase, they will most likely give
up on the idea altogether.
End-users need to be involved in the process of adopting
business analytics, and they should have some sort of
financial stake in the predictive model that is built.
An organisation should be ready for the changes that these
insights will bring to its existing business and technological
operations, and top-notch change management is one of
the things that comes along with this, since it is necessary
for any organisation to be prepared for these changes.
Today, large spectrum of internet-connected devices
generate increasing amount of business data.
In some cases, the data generated is of different types and
its integration into an analytical strategy becomes difficult.
Some organisations, especially MSMEs, may find it difficult
to hire suitable personnel as the demand for persons with
the Business Analytical data analytic skills has grown.
The problem of data storage limitations may also be faced
by smaller organisations.
Business Analytics Skills:
In order to be a successful business analyst, one needs to
possess a particular set of skills as mentioned below:
Critical thinking:
Working with business analytics requires not only
recognising which data can be helpful in making decisions
but also thinking critically about the implications of the data
that is obtained.
This is a significant part of the effort involved in working
with business analytics.
The ability to solve problems:
Since the overarching purpose of gathering data is
frequently to alleviate a particular source of discomfort
inside the company, possessing this ability makes it simpler
to connect the dots and draw conclusions as one progresses
through the process.
Communication:
Whether you're working with other people on your team or
communicating results to upper management, being an
effective communicator through writing and presenting is
essential.
This applies whether you're dealing with other people on
your team or with upper management.
Curiosity: Working in business analytics requires you to be
curious about how things function, how they relate to one
another, and how they develop through time.
Attention to detail:
Because those who work in this industry deal with such
intricate data, it is essential for them to pay close attention
to the numerous aspects of this data and the
recommendations that it may give.

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Increased production uptime:

3. Uses various techniques of forecasting:

3. Making adjustments to the forecast:

Line graphs and area charts:

b. The effectiveness of operations:

e. Pricing analytics and optimization:

d. Healthcare billing analytics:

2. Speedier and quality decisions:

WEB AND MOBILE ANALYTICS:

Collecting Mobile Web Analytics Data:

Business Analytics Examples:

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