BA4206
BUSINESS ANALYTICS
[Link] Kumar
SYLLABUS
UNIT I Business Analytics - Terminologies,
Introduction to Process, Importance, Relationship
Business with Organisational Decision Making,
Analytics BA for Competitive Advantage.
UNIT II
Managing BA Personnel, Data and
Managing
Technology. Organisational Structures
resources for
aligning BA. Managing Information
business
policy, data quality and change in BA.
analytics
SYLLABUS
Introduction to Descriptive analytics -
Visualising and Exploring Data -
UNIT III
Descriptive Statistics - Sampling and
Descriptive
Estimation - Probability Distribution for
Analytics
Descriptive Analytics - Analysis of
Descriptive analytics
Introduction to Predictive analytics -
Logic and Data Driven Models -
UNIT IV
Predictive Analysis Modeling and
Predictive
procedure - Data Mining for Predictive
Analytics
analytics. Analysis of Predictive
analytics
SYLLABUS
Introduction to Prescriptive analytics -
UNIT V
Prescriptive Modeling - Non Linear
Prescriptive
Optimisation - Demonstrating Business
Analytics
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 Select an analysis
business goal methodology
03 04
Support the
analysis Cleanse and integrate
data
Essentials of Business Analytics
Data collection
and management
collecting and
managing data Data analysis
from various
it needs to be
sources
analyzed to gain
Data visualization
insights
needs to be
presented in a
meaningful way
Essentials of Business Analytics
Predictive
modeling Business Data-driven
make predictions intelligences decision making
about future allowing companies can
events or trends businesses to optimize their
make informed operations,
decisions quickly. increase
efficiency, and
achieve their
goals more
effectively
Components of B A
Data collection Data cleaning and preparation
collecting relevant data removing duplicate or irrelevant
from various sources, data, filling in missing data
such as internal and
external databases
Data analysis Data visualization
techniques are applied to
visualized using charts,
the prepared data to
graphs, and other
identify patterns,
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 organizations identify
involves analyzing the root causes of
historical data problem
Predictive analytics Prescriptive analytics
analyzing data to make to make decisions
predictions about future about what actions to
outcomes take in the future
Common challenges of B A
Too many data sources
Lack of skills
Data storage limitations
Terminologies in B A ctd
01 02 03
Predictive
Analytics Business analytic Analytics
04 05 06
Descriptive Inquisitive Advanced
analytics analytics analytics
Terminologies in B A ctd
07 08 09
Big data Data Mining Data Science
analytics
10 11 12
Artificial
Intelligence Machine learning Algorithm
Terminologies in B A ctd
13 14 15
Machine Reporting Data warehousing
Learning
16 17 18
Analytics
Statistics platform Web analytics
Terminologies in B A
19 21
Sports analytics
Text analytics
20
Location analytics
Why is business analytics important?
Data-driven
Competitive Improved
decision-making
advantage performance
Business
analytics This can help This can lead to
provides businesses stay increased
organizations ahead of the efficiency, cost
with the tools competition and savings, and
and insights drive growth. higher profits.
needed to make
data-driven
decisions
Why is business analytics important?
Better customer
insights Risk management
organizations better This can help
understand their businesses make
customers by more informed
analyzing customer decisions and
behavior, reduce the
preferences, and likelihood of
trends negative
consequences.
Relationship with Organisational
Decision Making
01
Utilizing
Descriptive
02
Analytics Empowering with
Predictive
03
Analytics
Optimizing
through
Prescriptive
Analytics
BA and Competitive Advantage
02
01
Identifying Growth
Data-driven Decision
Opportunities
Making
03 04
Enhancing Operational Personalized Customer
Efficiency Experience
BA and Competitive Advantage
06
05
Sustainability
Price Leadership
07 08
Service Effectiveness Innovation
End of unit I
Thank You
