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    PPTs of Business Analytics

    Uploaded by

    Sakshi Sharda
    The document is a slide presentation on business analytics. It introduces analytics and discusses key topics like the analytics spectrum, quantitative vs qualitative data, accuracy in analytics today, and different types of analytics such as descriptive, diagnostic, and predictive analytics. Examples are provided like using analytics to improve recommendations on Amazon and using predictive models to forecast spending based on inputs or predict loan defaulters.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    PPTs of Business Analytics

    Uploaded by

    Sakshi Sharda
    95 views22 pages
    The document is a slide presentation on business analytics. It introduces analytics and discusses key topics like the analytics spectrum, quantitative vs qualitative data, accuracy in analytics today, and different types of analytics such as descriptive, diagnostic, and predictive analytics. Examples are provided like using analytics to improve recommendations on Amazon and using predictive models to forecast spending based on inputs or predict loan defaulters.

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    The document is a slide presentation on business analytics. It introduces analytics and discusses key topics like the analytics spectrum, quantitative vs qualitative data, accuracy in analytics today, and different types of analytics such as descriptive, diagnostic, and predictive analytics. Examples are provided like using analytics to improve recommendations on Amazon and using predictive models to forecast spending based on inputs or predict loan defaulters.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    95 views22 pages

    PPTs of Business Analytics

    Uploaded by

    Sakshi Sharda
    The document is a slide presentation on business analytics. It introduces analytics and discusses key topics like the analytics spectrum, quantitative vs qualitative data, accuracy in analytics today, and different types of analytics such as descriptive, diagnostic, and predictive analytics. Examples are provided like using analytics to improve recommendations on Amazon and using predictive models to forecast spending based on inputs or predict loan defaulters.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 22

    Business Analytics

    • Course Outline

    By: Prof.SAMEER JAIN

    Slides used for Educational Purpose only


    Introduction to Analytics

    “Without data, you’re just


    another person with an
    opinion”
    WH Demming

    Slides used for Educational Purpose only


    Introduction

    Figure 1: Top five languages used for Analytics, Data Mining, and Data Science - Source: https://www.kdnuggets.com/2019/05/poll-top-
    data-science-machine-learning-platforms.html

    Slides used for Educational Purpose only


    Analytics Spectrum

    Slides used for Educational Purpose only


    Data is the NewOil

    Slides used for Educational Purpose only


    • Data Is the New Core Capability of Digital
    Business Transformation

    Slides used for Educational Purpose only


    Application of Analytics in your Organization

    Slides used for Educational Purpose only


    Just ordinary text file
    • Data analytics is the process of examining data sets in order to draw conclusions
    about the information they contain, increasingly with the aid of specialized
    systems and software. Data analytics technologies and techniques are widely
    used in commercial industries to enable organizations to make more-informed
    business decisions and by scientists and researchers to verify or disprove
    scientific models, theories and hypotheses.

    • As a term, data analytics predominantly refers to an assortment of applications,


    from basic business intelligence (BI), reporting and online analytical processing
    (OLAP) to various forms of advanced analytics. In that sense, it's similar in
    nature to business analytics, another umbrella term for approaches to analyzing
    data -- with the difference that the latter is oriented to business uses, while data
    analytics has a broader focus. The expansive view of the term isn't universal,
    though: In some cases, people use data analytics specifically to mean advanced
    analytics, treating BI as a separate category.

    • Data analytics initiatives can help businesses increase revenues, improve


    operational efficiency, optimize marketing campaigns and customer service
    efforts, respond more quickly to emerging market trends and gain a
    competitive edge over rivals -- all with the ultimate goal of boosting business
    performance. Depending on the particular application, the data that's analyzed
    can consist of either historical records or new information that has been
    processed for real-time analytics uses. In addition, it can come from a mix of
    internal systems and external
    Slidesdata sources.
    used for Educational Purpose only
    Quantitative VsQualitative

    Slides used for Educational Purpose only


    What has Changed ?

    Slides used for Educational Purpose only


    Why accuracy is important today ?

    Slides used for Educational Purpose only


    What constitutes analytics?
    Analytics is the discovery, interpretation, and communication of
    meaningful patterns in data; and the process of applying those
    patterns towards effective decision making. In other words,
    analytics can be understood as the connective tissue between data
    and effective decision making, within an organization.

    Slides used for Educational Purpose only


    Business analytics
    • Business analytics, or simply analytics, is the use of
    data, information technology, statistical analysis,
    quantitative methods, and mathematical or computer-
    based models to help managers gain improved insight
    about their business operations and make better, fact-
    based decisions.
    • Business analytics is “a process of transforming data into
    actions through analysis and insights in the context of
    organizational decision making and problem solving.”
    Business analytics is supported by various tools such as
    Microsoft Excel and various Excel add-ins, commercial
    statistical software packages such as SAS or Minitab, and
    more-complex business intelligence suites that integrate
    data with analytical software.

    Slides used for Educational Purpose only


    AmazonRecommendation

    Slides used for Educational Purpose only


    Predictive and Prescriptive AnalyticsAre Domains
    of AI and Machine Learning

    Slides used for Educational Purpose only


    Spectrum of analytics

    Slides used for Educational Purpose only


    Descriptive Analytics

    Slides used for Educational Purpose only


    Positive relationship

    Slides used for Educational Purpose only


    Negative relationship

    Slides used for Educational Purpose only


    No relation

    Slides used for Educational Purpose only


    DiagnosticAnalytics Why some European
    Sedans have
    extraordinary
    mileage?

    Slides used for Educational Purpose only


    PredictiveAnalytics

    • These models can predict the


    value of a target variable or
    predict the group into which the
    target variable belongs to.
    • For example
    – A Linear Regression model can
    be used to predict the amount
    of expenditure on a particular
    product based on input
    variables income, age, and
    gender.

    – A Logistic regression model can


    be used to predict defaulters and
    non-defaulters on credit card
    loan.
    Slides used for Educational Purpose only

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