BA4206

BUSINESS ANALYTICS

Dr.N.Ramesh Kumar
 SYLLABUS

UNIT I Business Analytics - Terminologies, Process,

Introduction to Importance, Relationship with Organisational
Business Analytics Decision Making, BA for Competitive Advantage.

UNIT II Managing BA Personnel, Data and Technology.

Managing resources for Organisational Structures aligning BA. Managing
business analytics Information policy, data quality and change in BA.
 SYLLABUS

Introduction to Descriptive analytics - Visualising

and Exploring Data - Descriptive Statistics -
UNIT III
Sampling and Estimation - Probability Distribution
Descriptive Analytics
for Descriptive Analytics - Analysis of Descriptive
analytics

Introduction to Predictive analytics - Logic and Data

UNIT IV Driven Models - Predictive Analysis Modeling and
Predictive Analytics procedure - Data Mining for Predictive analytics.
Analysis of Predictive analytics
 SYLLABUS
UNIT V Introduction to Prescriptive analytics - Prescriptive
Prescriptive Modeling - Non Linear Optimisation -
Analytics Demonstrating Business Performance Improvement.

1 . Marc J. Schniederjans, Dara G. Schniederjans and Christopher M.

Starkey, " Business Analytics Principles, Concepts, and Applications -
What, Why, and How" , Pearson Ed, 2014

REFERENCES 2. Christian Albright S and Wayne L. Winston, "Business Analytics - Data

Analysis and Decision Making" , Fifth edition, Cengage Learning, 2015.

3. James R. Evans, "Business Analytics - Methods, Models and Decisions",

Pearson Ed, 2012.
 What is business analytics?
● Business analytics (BA) is a set of disciplines
and technologies for solving business problems
using data analysis, statistical models and other
quantitative methods.
● A simple definition of business analytics would
be to convert business data into accurate
business insights.
 How business analytics works?

01 02
Determine the business goal Select an analysis methodology

03 04
Support the analysis
Cleanse and integrate data
 Essentials of Business Analytics

Data collection and

management
collecting and
managing data from Data analysis
various sources
it needs to be analyzed
to gain insights
Data visualization
needs to be presented
in a meaningful way
 Essentials of Business Analytics

Predictive modeling
Data-driven decision
make predictions about Business intelligences making
future events or trends allowing businesses to companies can
make informed optimize their
decisions quickly. operations, increase
efficiency, and achieve
their goals more
effectively
 Components of B A
Data collection Data cleaning and preparation
collecting relevant data from removing duplicate or irrelevant data,
various sources, such as filling in missing data
internal and external
databases

Data analysis Data visualization

techniques are applied to the

visualized using charts, graphs, and
prepared data to identify patterns,
other visualization techniques
relationships, and trends
 Components of B A
Business intelligence reporting
KPIs, and recommendations for action

Monitoring and refinement

visualized using charts, graphs, and
other visualization techniques
 TYPES OF BA
Descriptive analytics Diagnostic analytics
Descriptive analytics involves organizations identify the root
analyzing historical data causes of problem

Predictive analytics Prescriptive analytics

analyzing data to make to make decisions about what

predictions about future actions to take in the future
outcomes
 Common challenges of B A

Too many data sources

Lack of skills

Data storage limitations

 Terminologies in B A ctd

01 02 03
Analytics Business analytic Predictive Analytics

04 05 06
Descriptive analytics Inquisitive analytics Advanced analytics
 Terminologies in B A ctd

07 08 09
Data Mining Data Science
Big data analytics

10 11 12
Artificial Intelligence Machine learning Algorithm
 Terminologies in B A ctd

13 14 15
Reporting Data warehousing
Machine Learning

16 17 18
Statistics Analytics platform Web analytics
 Terminologies in B A

19 21
Sports analytics
Text analytics

20
Location analytics
Process
 Why is business analytics important?

Data-driven decision-
making
Competitive advantage Improved performance
Business analytics
provides organizations This can help This can lead to
with the tools and businesses stay ahead increased efficiency,
insights needed to of the competition and cost savings, and higher
make data-driven drive growth. profits.
decisions
 Why is business analytics important?

Better customer
insights
organizations better
understand their customers
by analyzing customer
behavior, preferences, and
trends
Risk management
This can help businesses
make more informed
decisions and reduce the
likelihood of negative
consequences.
Relationship with Organisational Decision Making

01
Utilizing Descriptive
02
Analytics
Empowering with
03
Predictive Analytics

Optimizing through
Prescriptive Analytics
 01
About us
 Our goals

Short term Long term

Our main goals now are to increase sales
through improved marketing and customer
outreach, optimize operational processes to
reduce costs and increase efficiency and
establish a timeline for new products
The overall goal of the company is to
expand into new markets or geographies,
develop and implement a strategy to reduce
environmental impact and increase
sustainability and increase market share
 What sets us apart?

Always on time Out-of-the-box Customer service

We never miss a deadline. You can Our out-of-the-box ideas are creative We focus on providing a high level of
rely on us and rest assured that your solutions that challenge the status quo customer service so that the
product will be ready on time and provide unique value experience is positive
 Our guiding principles
Integrity
For a us, integrity means operating with
honesty, trustworthiness, and strong moral
values. We commit to ethical and
environmental standards
Collaboration
We create an environment where employees
can work together productively and
efficiently to achieve common objectives. It
involves sharing knowledge, skills,
resources, and ideas
Customer focus
We put customers at the center of everything
they do. We listen to customer feedback and
incorporate it into decisions, products and
services
Innovation
Innovation is an integral part of our
company’s culture and is essential for
success. It means us coming up with new
ideas, methods, and products that can grow
the business
 Competitor analysis

Features Pricing Customer feedback

Compare features and benefits Analyze competitor’s pricing Examine the feedback
of your product and offers on their products

Monitoring Emerging trends Organic search

Keep an eye on their offers Identify emerging trends in How are your competitors
and launches your industry optimizing their SEO?
 Key action items

First quarter Second quarter Third quarter

Monitor and review Measure the

Key action 1 Create detailed procedures
process performance effectiveness of processes

Use data analytics Develop strategies to reduce Stay up to date with new
Key action 2 to gain insights waste technologies and trends

Invest in technology solutions Establish control of spend and Foster an environment of

Key action 3 for automation reduce overhead collaboration

Focus on continuous Ensure proper management of Research best practices from

Key action 4 improvement resources outside
1
What to show in a
mockup
1. Product/website description: A brief overview of
the product/website, including its key features,
dimensions, and materials used
2 2. Features and benefits: A detailed explanation of
the features and how they will benefit the user
3. Technical specifications: A list of the
product's/website's technical specifications, such
as dimensions, weight, power requirements,
connectivity options and hosting platform

3
 Buyer persona infographic
“This is a quote, words full of wisdom Motivations
that can make the reader get inspired.”
1 Creativity

2 Ecology

Name Personality
3 Music
Age and occupation ● Explorer, adventurous. Likes the
outdoors and camping
● Engaged on social media, speaks
Pain points
Bio for themselves
● Not easily influenced by ads or
Knowing your buyer persona’s
Make a short description of what a social media
pain point will help you create
typical customer would be. Be messages that are tailored to their
precise! needs
 Roadmap infographic
Initiative Objective Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Analyze and understand the needs of

Understanding
your target audience

Research existing products in the

Conduct research industry and analyze how successful they
are

Generate ideas based on user feedback

Brainstorm ideas
and research findings

Develop a Create a basic version of the product to

prototype show investors

Put the prototype through rigorous

Test for usability testing processes to ensure that it meets
user requirements

Analyze
Analyze feedback
feedback
 Market size overview
Outer circle
$100M Include the total size of the market, which represents
the entire potential customer base for the product or
service

$20M Middle circle

Identify the target market for the product or service,
which may be a subset of the total market. This could
be based on factors such as demographics, geography,
or specific needs

$5M Inner circle

Indicate the current market size, which represents the
portion of the target market that the company has
successfully captured