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Analytics in Pratice and Basic Spreadsheet Modeling: I. Objectives

This document discusses analytics in practice and basic spreadsheet modeling. It outlines objectives for students to understand analytics concepts, questions, applications, and trends. It also describes using Microsoft Excel to compute problems and model situations. Students are instructed to create a PowerPoint presentation analyzing analytics uses for different organizations and classifying analytics skills as descriptive, predictive, or prescriptive. Exercises demonstrate using Excel functions to analyze wage, bakery supplier, and customer data spreadsheets.

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orchuchi
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147 views5 pages

Analytics in Pratice and Basic Spreadsheet Modeling: I. Objectives

This document discusses analytics in practice and basic spreadsheet modeling. It outlines objectives for students to understand analytics concepts, questions, applications, and trends. It also describes using Microsoft Excel to compute problems and model situations. Students are instructed to create a PowerPoint presentation analyzing analytics uses for different organizations and classifying analytics skills as descriptive, predictive, or prescriptive. Exercises demonstrate using Excel functions to analyze wage, bakery supplier, and customer data spreadsheets.

Uploaded by

orchuchi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ANALYTICS IN PRATICE AND BASIC

SPREADSHEET MODELING

I. OBJECTIVES

At the end of this exercise, students must be able to:


 Understand the definition and concepts of analytics
 Identify and understand the different kinds of questions that analytics could
answer
 Learn and describe the different practices on analytics
 Identify the different business users and their challenges
 Identify the different trends in business analytics
 Identify the different applications of analytics
 Understand the definition and concepts of analytics
 Learn how to compute basic problems in Microsoft Excel
 Identify the steps in simple customer prediction problems
 Learn how to compute for the cost

II. BACKGROUND INFORMATION

The three dominant types of analytics –Descriptive, Predictive and Prescriptive analytics, are
interrelated solutions helping companies make the most out of the big data that they have. Each
of these analytic types offers a different insight.

Analytics is to utilize data-driven approaches to enable software practitioners to perform data


exploration and analysis in order to obtain insightful and actionable information for completing
various tasks around software systems, software users, and software development process.

None of us can paint a masterpiece like Van Gogh’s Starry Night, but if we master Excel we can
start with a blank spreadsheet and create our own masterpiece that enables us to model virtually
any situation. For many people, the barrier to entry in becoming proficient at Excel is in
understanding how Excel formulas work. In this chapter, we will develop several simple
spreadsheet models that should get you ready to master the complexities of Excel.

III. INSTRUCTIONS

A. Perform a simple research and prepare a Powerpoint presentation for the following:

 A good analytics project starts with asking the right business questions. Consider a
business organization, probably the one for which you are working, and state
business questions whose answers can help improve organizational performance.
Then, focusing on a specific business function (such as marketing, operations,
finance, accounting, human resources, etc.), explore the sources of data that can be
used to answer these questions and discuss the potential use of such data for decision
making.
 Select an organization (such as Walmart, Amazon, your favorite restaurant, or even
the one you work for) and discuss what type of information this organization might
store and how data scientists can use that information for descriptive, predictive, and
prescriptive purposes.
 Create a table with three columns respectively named Descriptive, Predictive,
and Prescriptive, and place each skill from the following list in the correct column:

- Association analysis
- Causal relationships
- Cluster analysis
- Decision tree methods
- Frequency distributions
- Goal programming
- Histogram
- Integer programming
- Interquartile range
- Linear programming
- Logistic regression
- Mean
- Median
- Mode
- Multiple regressions
- Neural networks
- Nonlinear programming
- Optimization heuristics
- Range
- Sampling
- Sensitivity analysis
- Simulation modeling
- Standard deviation
- Stem and leaf diagram
- Text mining
- Time series
- Variance

B. Download the Wagetemp.xlsx, Bakerytemp.xlsx., and Customertemp.xlsx files.

1. Open Wagetemp.xlsx first and determine the following using SUM and AVERAGE
functions of Microsoft Excel:
 determine each of my employee’s weekly wages
 determine the average salary of all the employees
 determine the total hours spend of the employees

2. Open the Bakerytempl.xlsx and determine how much a bakery owes each supplier?

3. Open the Customertemp.xlsx and predict the number of customers a new health club
will have in 10 years.
4. Submit this document together with the three Excel files you used for this laboratory
exercises. (Do not zip, use the Add Files function instead)

ANSWER:

A. Using the 3 types of Analytics

Analysis Descriptive Predictive Prescriptive


Association analysis x
Causal relationships x
Cluster analysis x
Decision tree x
methods
Frequency x
distributions
Goal programming x
Histogram x
Integer x
programming
Interquartile range x
Linear programming x
Logistic regression x
Mean x
Median x
Mode x
Multiple regressions x
Neural networks x
Nonlinear x
programming
Optimization x
Analysis Descriptive Predictive Prescriptive
heuristics
Range x
Sampling x
Sensitivity analysis x
Simulation modeling x
Standard deviation x
Stem and leaf x
diagram
Text mining x
Time series x
Variance x

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