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Business Analytics

This document provides an overview of business analytics, including its definition, purpose, history and types. Business analytics refers to using data, statistical analysis and other quantitative techniques to examine past business performance and gain insights to inform business decision making and optimize processes. The document outlines the basic domains within analytics like retail, finance and marketing. It also discusses the difference between business analytics and business intelligence, with analytics focusing more on why results occurred and predicting the future using advanced mathematical techniques. A number of business analytics tools are also mentioned.

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Gulam Mustafa
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1K views

Business Analytics

This document provides an overview of business analytics, including its definition, purpose, history and types. Business analytics refers to using data, statistical analysis and other quantitative techniques to examine past business performance and gain insights to inform business decision making and optimize processes. The document outlines the basic domains within analytics like retail, finance and marketing. It also discusses the difference between business analytics and business intelligence, with analytics focusing more on why results occurred and predicting the future using advanced mathematical techniques. A number of business analytics tools are also mentioned.

Uploaded by

Gulam Mustafa
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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WELCOME

BUSINESS
ANALYTICS
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AGENDA:
Why Business Analytics? What is Business Analytics? History of Business Analytics? What is the purpose of Business Analytics?

What are the types of Analytics?


What are the basic domains within Analytics? What is Business Intelligence?

BA vs BI?
Tools?
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What if:
o You could Predict needs of citizens. o You could Improve traffic flow and Reduce emission. o You could Ensure your forces ready and fully enable. o You have Insight to maximize your resources. o You could Stop crime before it happens. o You could Predict future and perform well.

Now you can

Business analytics (BA) refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods

Business analytics is set of tasks, knowledge and techniques required To identify business needs and determine solutions to business problems. BA also supports tactical decision making in response to unforeseen events, and in many cases the decision making is automated to support real-time responses.
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BA is used to gain insights that inform business decisions and can be used to automate and optimize business processes
Examples of BA uses include: Exploring data to find new patterns and relationships (data mining) Explaining why a certain result occurred (statistical analysis, quantitative analysis) Experimenting to test previous decisions (A/B testing, multivariate testing)

Forecasting future results (predictive modeling, predictive analytics)

History:
Analytics have been used in business since the time management exercises that were initiated by Frederick Winslow Taylor in the late 19th century. Henry Ford measured pacing of assembly line. But analytics began to command more attention in the late 1960s when computers were used in decision support systems. Since then, analytics have evolved with the development of enterprise resource planning (ERP) systems, data warehouses, and a wide variety of other hardware and software tools and applications
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Purpose
Collect and use data to inform business decision making. Identify where the business stands in relations to rivals. Identify strengths and weaknesses in the business. Establish the issue and opportunity. Understand the problem. Facilitate change.

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Types of analytics
1. Reporting or Descriptive Analytics

2. Modeling or Predictive analytics


3. Affinity grouping

4. Clustering

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MODULES OF BA

Drill-down Online analytical processing (OLAP) Reports and Queries

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ADVANCED BUSINESS ANALYTICS

Data Visualization New directions in data visualization Ex: Weather Report of a state Dashboards and scorecards
Geographic Information Systems(GIS) Use Of Spatial Data

GIS combined with GPS


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Basic domains within analytics:


Retail sales analytics Financial services analytics Risk & Credit analytics Talent analytics Marketing analytics Behavioral analytics Collections analytics Fraud analytics Pricing analytics Telecommunications analytics Supply Chain analytics Transportation analytics
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Business intelligence : BI is defined as the ability for an organization to take all


its capabilities and convert them into knowledge. BI technologies provide historical, current and predictive views of business operations

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BA VS BI

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Traditional BI delivers historic information to assist in making more informed decisions impacting tomorrow. For instance, a sales manager might want to see monthly revenue for a business unit as compared to prior year actuals and current year plan to create next year's plan. Analytics assists an organization by applying advanced mathematical and statistical techniques to analyze historic information. The goal is to drive organizational efficiencies and overall improvement. A true analytic solutions will help an organization to tackle their most complex problems and create unique, predictive capabilities, driving intelligent decisions. For instance, we would use analytics to determine how business unit revenue is trending statistically in an effort to predict future period plan.

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Business Intelligence

Business Analytics

What happened?

Why did it happened?

What's happening?

Why it is happening?

What will happen?

Why it will happen?

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FUTURE OF BA

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The amount of data is doubling every year. Information from devices, machines and social data, (think Big Data)

creates an entirely new set of challenges and reinforces


the fact that data will continue to grow exponentially for the foreseeable future. Naturally, the demand for tools like business analytics that helps organizations access, analyze, govern and share information is seemingly insatiable.
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Tools
MS Excel SAS SPSS Modeler(Clementine) Salford systems KXEN Angoss Matlab R Weka WPS

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NOW:
o You can Predict needs of citizens. o You can Improve traffic flow and Reduce emission. o You can Ensure your forces ready and fully enable. o You can have Insight to maximize your resources. o You can Stop crime before it happens. o You can Predict future and perform well.

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THANK YOU

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