NOTE

 Slides marked as Extra study are not as a part of syllabus.

 Those are provided for add-on knowledge.

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Disclaimer
 This presentation is purely for academic purpose and does not carry
any commercial value.
 All non-academic images used in this presentation are property of
respective image holder(s). Images are used only for indicative
purpose and does not carry any other meaning.

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Please follow this…

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INTRODUCTION
Data Analysis in Excel

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 BOOK & REFERENCES
TEXT BOOK
 Hector Guerrero, “Excel Data Analysis - Modeling and Simulation”, Springer-Verlog
 Camm, Cochran, Fry, Ohlmann, Anderson, Sweeney, Willians, “Essentials of Business
Analytics”, Cenage Learning

REFERENCE LINK FOR EXCEL

 https://www.excel-easy.com/
 https://support.office.com/en-us/article/excel-for-windows-training-9bc05390-e94c-
46af-a5b3-d7c22f6990bb?wt.mc_id=otc_home&ui=en-US&rs=en-US&ad=US

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TABLE OF CONTENT
1 Decision Making Process

2 Data Analysis & Analytics

3 Outcome of Data Analysis

4 Data

5 Different Forms of a Data

6 Data Sources & Acquisition

7 Data Ownership & Governance

8 Data Analysis & Analytics in Practice

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DECISION MAKING PROCESS

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 What is Business Management?
 Business management is about managing and leading - People, Tasks,
Operations, Processes, Projects, Places, Things and Ideas.

 Business management centers on –

 to Achieve Milestones for
Success of business
 to increase Business Value and
Profitability.

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 What is the role of
business professional?

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Role of a Business Professional

Business Professionals have to

Plan, Coordinate, Organize, & Lead
the organization for
Better Performance & Profit.

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 In the journey,
business professionals have to
make various decisions.
How they
make decisions?

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 Step-by-Step Decision Process
Decision making is the process of making choices by identifying a decision, gathering
information, and assessing alternative resolutions.

Using a step-by-step decision-making process can help you make more deliberate,
thoughtful decisions by organizing relevant information and defining alternatives.

This approach increases the chances

that you will choose the most
satisfying alternative possible and
your decision will be more
successful.

https://www.umassd.edu/fycm/decision-making/process/ 12
Decision Making Approaches

Traditional
We have always done in this way.

Intuition
Gut feeling

Rule of thumb
a broadly accurate guide or principle, based
on practice rather than theory
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 Is decision always right?
What if, decision is too risky?
Can you improve decision making?

…Informed Decisions…
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Why Decision Making difficult?

Many
Uncertainty
alternatives

How to overcome this PROBLEM? 15

Data Driven Decision Making

Decisions are supported with insights from data to-

Alternative

Alternative

Alternative

Decide Best
Quantify Risk
Alternative
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Advantages of Data Driven Decision
Making
Firms using data driven decision making have

Higher productivity Market value

Profitability Increased output

Hence Business Analytics is essential.

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Statistics on Data Driven Decision Making

Companies in the top third of their industry in the use of

data-driven decision making were, on average,

5% more productive and 6% more profitable
than their competitors.

CONCLUSION –

Decision has to be backed by Data.

https://hbr.org/2012/10/big-data-the-management-revolution
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 Decision Making Process
Identify business problem Evaluate alternatives Choose right
& decision to be taken and weight alternative

Gather data, criteria or Determine the set of Take action Review decision &
metric of success/failure alternative decisions consequences

https://www.umassd.edu/fycm/decision-making/process/ 19
DATA ANALYSIS & ANALYTICS

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What is Data & Data Analysis?
 What is DATA?
Data is facts and figures.

 What is Data Analysis?

Data analysis organizes, transform, interprets and presents the data
into valuable information.

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Why to Study Data Analysis & Analytics?
Discover
Data
Calculate & hidden patterns
driven
minimize which aren’t
decisions
risk possible for
making
human
Informed Decision Reduce Risk Discover Patterns

Understand Foresee Increase

the past & future stakeholders
learn from & value of
mistakes be prepared business

Learn from History Predict for Future Increase Profit 22

Analysis and Analytics
ANALYSIS
 Detailed examination of the elements
or structure of something
 The process of separating something
into its constituent elements

ANALYTICS
 Systematic computational analysis of
data
 Information resulting from the
systematic analysis of data
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 Two sides of same coin.
Analysis v/s Analytics
ANALYSIS ANALYTICS
 Understand what happened in the  Predict what is going to happen in
past future
 Analysis is first step of analytics.  Analytics is next step of analysis.
 It is for data summarization, slicing  It is used for predictive and
and dicing of data. prescriptive analytics.
 It is not a exhaustive analysis.  It more exhaustive and detailed.
 It can be done with small data size  It require more data and it is time
and quickly. consuming.

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OUTCOME OF ANALYSIS

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Outcome of Data Analysis

INSIGHTS

How does insights presented?

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DATA

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 What is Data?
Data is -
 Facts and Statistics collected
together for reference or analysis.
 Facts, Figures, Statistics, Details,
Particulars, Specifics, Features
 Quantities, Characters, or
Symbols on which operations are
performed by a computer
 Things known or assumed as facts,
making the basis of reasoning or
calculation.
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DIFFERENT FORMS OF DATA

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Different forms of Data

Numeric & Category Text Speech/Voice

Social Media Geospatial Video & Images 33

Different Type of Data

Numeric &
Voice
Category

Image /
Text
Video

Social Media Geospatial

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DATA SOURCES & ACQUISITION

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 How data is generated?

Data is generated by various

PROCESSES.
Data is generated by various
FUNCTIONS.

Data is generated by various

ACTIVITIES. 36
Digital Form and Stored on Cloud

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DATA OWNERSHIP & GOVERNANCE

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 Data Ownership

Data is owned by FUNCTION. Data is managed by

(Marketing, Finance, HR, Supply INFORMATION TECHNOLOGY
Chain, Operations, etc.) on the behalf of FUNCTION.

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DATA ANALYSIS IN PRACTICE

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Examples in Marketing
 Customer Segmentation
 Channel Analysis
 Marketing Mix Analysis
 Sales Performance Analysis
 Sales Campaign Analysis
 Price Bundling
 Revenue Analysis
 Lifetime Customer Value
 Digital Marketing Analysis

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Examples in Finance
 Profit and Loss Analysis
 Outstanding Analysis
 Risk based Pricing
 Dynamic Pricing
 Fraud Analysis
 Recovery Analysis
 Risk Profiling
 Portfolio Analysis
 Credit Risk Analysis

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Examples in Human Resources
 Recruitment Analysis
 Employee Exit Analysis
 Employee Retention Analytics
 Workforce Compensation
Analysis
 Learning & Development Analysis
 Workforce Performance Analysis

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Examples in Supply Chain
 Demand and Supply Analysis
 Sourcing Analysis
 Quality Control
 Inventory Analysis
 Warehouse Analysis
 Order Fulfillment Analysis
 Route Analysis

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