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Descriptive Analytics: Prof. Rajiv Kumar IIM Kashipur

The document discusses the three main types of business analytics: descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics describes past performance using techniques like reports with charts and graphs. Predictive analytics predicts future trends by extracting patterns from past data using techniques like sales forecasting. Prescriptive analytics recommends decisions and actions by creating models that output the optimal strategy based on past data, like pricing recommendations from a model.

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Rajat Singh
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43 views11 pages

Descriptive Analytics: Prof. Rajiv Kumar IIM Kashipur

The document discusses the three main types of business analytics: descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics describes past performance using techniques like reports with charts and graphs. Predictive analytics predicts future trends by extracting patterns from past data using techniques like sales forecasting. Prescriptive analytics recommends decisions and actions by creating models that output the optimal strategy based on past data, like pricing recommendations from a model.

Uploaded by

Rajat Singh
Copyright
© © All Rights Reserved
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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Descriptive Analytics

Prof. Rajiv Kumar


IIM Kashipur
Business Analytics (1of2)

 Business analytics is the process of collating, sorting, processing, and studying business data, and
using statistical models and iterative methodologies to transform data into business insights.

• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics
Business Analytics (2of2)
 Descriptive Analytics
• Techniques that describe past performance and history
• Example: Creating a report that includes charts and graphs that explains data
 Predictive Analytics
• Techniques that extract information from data and use it to predict future trends and identify behavioral
patterns
• Example: Using past sales data to predict future sales data
 Prescriptive Analytics
• Techniques that create models indicating the best decision to make or course of action to take
• Example: Airline using past purchasing data as inputs into a model that recommends the best pricing
strategy across all flights allowing the company to maximize revenue.
Business Analytics (2of2)
 Descriptive Analytics
• Techniques that describe past performance and history
• Example: Creating a report that includes charts and graphs that explains data
 Predictive Analytics
• Techniques that extract information from data and use it to predict future trends and identify behavioral
patterns
• Example: Using past sales data to predict future sales data
 Prescriptive Analytics
• Techniques that create models indicating the best decision to make or course of action to take
• Example: Airline using past purchasing data as inputs into a model that recommends the best pricing
strategy across all flights allowing the company to maximize revenue.
Example. IPL Auction Data Set (IPL_Data.xlsx)
 Loading the dataset onto a DataFrame
import pandas as pd
ipl_auction_df = pd.read_excel( 'IPL_Data.xlsx’ )

 Display DataFrame

print(ipl_auction_df)

 Displaying first few records of the DataFrame


print(ipl_auction_df.head(5))
Example. IPL Auction Data Set (IPL_Data.xlsx)
 Finding metadata of the DataFrame
list(ipl_auction_df)

 Transpose DataFrame
ipl_auction_df.transpose()

 Dimension of DataFrame
ipl_auction_df.shape

 Finding Summary of the DataFrame


 ipl_auction_df.info()
Example. IPL Auction Data Set (IPL_Data.xlsx)

Slicing and Indexing a dataframe


 Selecting Rows by Indexes
ipl_auction_df[0:5] #First five rows
ipl_auction_df[-5:] #Last five rows

 Selecting Columns by Column Names


ipl_auction_df['PLAYER NAME'][0:5] #Select “PLAYER NAME”
ipl_auction_df[['PLAYER NAME', 'COUNTRY']][0:5] #Select “PLAYER NAME”

 Selecting Rows and Columns by indexes


ipl_auction_df.iloc[4:9, 1:4]
Example. IPL Auction Data Set (IPL_Data.xlsx)

Value Counts and Cross Tabulations


 Finding Unique Occurances of Values in Columns
ipl_auction_df.COUNTRY.value_counts()

 Cross-tabulation between two columns


pd.crosstab(ipl_auction_df['AGE'], ipl_auction_df['PLAYING ROLE'])

 Sorting dataframe by column values( ipl_auction_df['AGE'], ipl_auction_df['PLAYING ROLE’])


ipl_auction_df[['PLAYER NAME', 'SOLD PRICE']].sort_values('SOLD PRICE')[0:5]
ipl_auction_df[['PLAYER NAME', 'SOLD PRICE']].sort_values('SOLD PRICE', ascending = False)[0:5]
Example. IPL Auction Data Set (IPL_Data.xlsx)

Grouping and Aggregating


 What is the average SOLD PRICE for each age category?
ipl_auction_df.groupby('AGE')['SOLD PRICE'].mean()
 Filtering Records from Dataframe based on conditions
#Which players have hit more then 80 sixes in the IPL tournament so far?
ipl_auction_df[ipl_auction_df['SIXERS'] > 80 ][['PLAYER NAME', 'SIXERS']]
‘
Example. IPL Auction Data Set (IPL_Data.xlsx)
 Calculate Max of “SOLD PRICE”
print(ipl_auction_df['SOLD PRICE'].max())
 Calculate Min of “SOLD PRICE”
print(ipl_auction_df['SOLD PRICE'].min())
 Calculate Mean of “SOLD PRICE”
print(ipl_auction_df['SOLD PRICE'].mean())
 Calculate Mode of “SOLD PRICE”
print(ipl_auction_df['SOLD PRICE'].mode())
 Calculate Median of “SOLD PRICE”
print(ipl_auction_df['SOLD PRICE'].median())
 Calculate Standard Deviation of “SOLD PRICE”
print(ipl_auction_df['SOLD PRICE'].std())
Example. IPL Auction Data Set (IPL_Data.xlsx)
 Calculate correlation
#correlation between 'AVE', 'SIXERS', 'SOLD PRICE'
ipl_auction_df[['AVE', 'SOLD PRICE']].corr()

#correlation between 'SR-B', 'AVE', 'SIXERS', 'SOLD PRICE'


ipl_auction_df[['SR-B', 'AVE', 'SIXERS', 'SOLD PRICE']].corr()

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