Business Analytics

Right Tool for Right Data : Selecting Appropriate Software for Data Analysis

Dr Loveleen Gaur
Professor - Amity International Business School
lgaur@amity.edu,
DR LOVELEEN GAUR
 Data-driven ness is about building tools, abilities, and, most
crucially, a culture that acts on data.

A data-driven organization may be continuously testing. It might be A/B

testing checkout flow on a website or testing email subject lines in a
marketing campaign.

A data-driven organization may have a continuous improvement

mindset. 

A data-driven organization may be involved in predictive modeling,

forecasting sales, stock prices, or company revenue, but importantly
feeding the prediction errors and other learning back into the models
(REMEMBER REINFORCEMENT LEARNING)
 Why it is important to select right software?
• Data comes in various forms ( Numeric, Text, Audio, Videos,
Images Social Media Tweets, Reviews, Sensors providing data
(ECG, EEGs are providing data), spatial images, and we are
moving towards BIG DATA.

ONE SIZE FITS ALL-----DOESN’T WORK

• What questions a company/researcher is seeking to answer, and

what do they expect to accomplish with the results? 

• What is your budget? (Based on that you decide whether you will
go for proprietary or open source)

DR LOVELEEN GAUR
FAMOUS BATTLES
DR LOVELEEN GAUR
If you are not aware of Qualitative then
Remember Text Mining

DR LOVELEEN GAUR
CROSS SECTIONAL Vs LONGITUTIDNAL
 Data Analysis

Quantitative Qualitative

Cross-Sectional Longitudinal Experimental

NVIVO(P) R(O)

Matlab(P
Excel(P) SPSS(P) Eviews Gretl Minitab ) Atlas.ti(P
QDA Miner Lite(O)
)
Stata
SPSS(Process)
(P) SmartPLS(P)

MyStat(P “I am Open source”

Adanco(P)
) “I can do everything”

DR LOVELEEN GAUR
Software for Quality Control or
for
Six Sigma Projects

Minitab

DR LOVELEEN GAUR
TIME SERIES DATA

•For Longitudinal Data

•For Economics, Finance and International Business

Domain :

•They can use Exponential Smoothing, ARIMA, GARCH

Models for trends checking, effect of seasonality,
Prediction and Forecasting.

Time series modelling and ARIMA forecasting

are scientific ways to predict the future. 

DR LOVELEEN GAUR
 https://www.stata.com/features/
Open source
Proprietary software
Used for Econometric
Analysis
Huge capability
GUI
Mostly used by Can store all the
Companies for Time commands which is not
Series, Panel, Risk there in Eviews.
Analysis

DR LOVELEEN GAUR
 TECHNOLOGY AND
DATA DRIVEN CHANGE
What does Business Intelligence Do?

PREDICTIVE ANALYTICS- Enables business

owners to
strategize for future by predictive analytics.

DYNAMIC REPORTING- Highly dynamic reporting

capabilities.
Users can view reports in
multiple
formats.

REAL TIME DATA ANALYSIS - It provide

real time data analysis and assists business
owners in quick decision making.
Most demanding course of 21stst Century
The spider chart presentation
with skill sets for each of these
profiles.
The following spider charts have
6 axes for each skill set.
The farther the pointer is on an
axis from the center, higher
proficiency in that skill is
required for that profile.
http://ucanalytics.com/blogs/data-science-job-interview-types-sample-questions-pr
eparation-strategies/
 “RIGHT
EDUCATION AT
RIGHT TIME WILL
MAKE THE
DIFFERENCE”

Amity International Business School

Prof. (Dr.) Loveleen Gaur
lgaur@amity.edu,