MBA – Industry Collaborated Programs

BusinessV Analytics (BA)

Subject Name- Introduction to Business Analytics

Business Analytics DISCOVER . LEARN .

Unit-III EMPOWER 1
 Topics
1. Data Analytics Introduction
2. Predictive Analytics Introduction
3. Predictive Analytics Process
4. Predictive Analytics Methodologies

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How industries are moving

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 Data Analytics
Data Analytics Decisions

Data analytics is the science of analyzing raw data in order to make conclusions
about that information

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Types of Data Analytics

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Predictive Analysis
Predictive analytics encompasses a variety of
statistical techniques from data mining,
predictive modelling, and machine learning, that
analyze current and historical facts to make
predictions about future or otherwise unknown
events. 
Predictive Analysis helps connect data to effective action by
drawing reliable conclusions about current conditions and
future events - Gareth Herschel,Research Director,Gartner Group

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 Predictive Analytics Application
Customer Analytics
Acquire Customers
Grow Customers
Retain Customers
• Identify best customers
• Identify best ways to
connect with them
• Identify best mix of things
needed by customers
• Understand what makes
them leave and stay and
take action to prevent them
from leaving
Operational Analytics
Plan Operations
Manage Operations
Maximize Performance
• Ensure inventory and
resources are in right place
at right time
• Identify impact of
investment
• Understand causes of
failure of assets/infra
• Improve employee
productivity and
effectiveness
• Drive excellence through
procurement, development,
availability and distribution
Threat and Fraud Analytics
Monitor Environments
Detect Suspicious Activity
Control Outcomes
• Identify Leaks
• Increase compliance
• Identify fraudulent
patterns
• Reduce false positives
• Take action in real time
• Reduce claim handling
time
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 Predictive Analytics Domain
Online Retail Healthcare Education Fraud Detection

Improvised Market Recommendation

Weather Forecasting Search Engines
Campaigning Engines

Cyber security Crime detection

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 Types of data for PA
Descriptive Behavioral Interaction Attitudinal Data
Data Data Data • Opinions
• Attributes • Orders • Emails/ • Preference
• Characteristi • Transaction Chat s
cs s transcripts • Needs
• Personal info • Notes
• Payment • Survey
• Demographic
history • Web click results
s
• Usage streams • Social
history • Personal Media
dialogues
• Interviews
360 Degree View of Problem

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 Predictive Analytics – Process Steps
Define Business
Objectives
• Target Modelling Opportunities
Deployment
• Execute deployment procedure
to implant insights from
predictive model in business
Define Goals
• Translate Business objectives
to Analytics goal
Data Evaluation
• Predictive scoring using test
sample
• Check for robustness
• Check for performance
Data Collection
• Target Marketing
Data Modeling
• Develop Modeling method
• Build Develop Train Models
Data Preparation
• Initial data cleanup
• Define variables
• Validate for correctness
• Create Data dictionary
• Join/append multiple data sets
Data Analysis
• Identify relationship between
data
• Transform data as per model
• Random sampling as train and
test data
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Predictive Analytics-Methodologies

Forecasting Regression Classification Machine

Learning

Text Analysis Decision

Tree

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Reference
Text Books –

1. Business Analytics; By James Evans

2. Changing Business with Data Insight, IBM Career Education
3. IBM Cognos Insight: Analyze and Share Data, IBM Career Education
Reference Books –
1. Competing on Analytics: The New Science of Winning;Jeanne G. Harris and Thomas H.
Davenport; Harvard Business Review Press; 1 st Edition (2010)
2. Fundamentals of Business Analytics; SeemaAcharya, R.N. Prasad; Publisher: Wiley India Pvt
Ltd; 1 st Edition (2011)

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