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1session 1 - Introduction

This document provides an introduction and agenda for an IT and Analytics Revolution course taught by Pradeep Kumar at IIM Lucknow. The agenda includes an introduction to the course, a discussion of the analytic revolution, and a case study on good modeling practices in Microsoft Excel. Key topics to be covered in the course include understanding data, data referencing, data analysis, reporting and visualization. The textbook for the course is provided. Students will be evaluated based on an end term exam, quizzes, and assignments/projects. Analytics can be used for objectives like maximizing profit or improving outcomes. It requires skills like data manipulation, bringing together disparate data sets, analytics, programming, and statistics. The challenges of analytics include sourcing

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PALADI VENKATA VARUN
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14 views24 pages

1session 1 - Introduction

This document provides an introduction and agenda for an IT and Analytics Revolution course taught by Pradeep Kumar at IIM Lucknow. The agenda includes an introduction to the course, a discussion of the analytic revolution, and a case study on good modeling practices in Microsoft Excel. Key topics to be covered in the course include understanding data, data referencing, data analysis, reporting and visualization. The textbook for the course is provided. Students will be evaluated based on an end term exam, quizzes, and assignments/projects. Analytics can be used for objectives like maximizing profit or improving outcomes. It requires skills like data manipulation, bringing together disparate data sets, analytics, programming, and statistics. The challenges of analytics include sourcing

Uploaded by

PALADI VENKATA VARUN
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ITC Session-1

Introduction to IT
and Analytic Revolution

Pradeep Kumar,
(Room # 201, Faculty Block;
ph: 6657; email: [email protected])
IT & Systems Group,
IIM Lucknow
https://forms.gle/v4jxrUVNbiXizjhf7
Today’s Agenda
• Course Introduction
• Analytic Revolution
• Case Study : Good Modelling Practices in
Microsoft Excel
•
Important features

oCreate ranged names


oPaste special
oSorting
oFull Series
oRandom Number generation
Outline of the course

• Introduction
• Understanding Data
• Data Referencing
• Data Analysis
• Reporting and Data Visualization
Textbook
• Wayne L Winston
Microsoft Excel 2019
Data Analysis and
business Modeling,
Microsoft Press
• Soft Copy materials o
be given by the
instructor
• https://www.microsoftpressstore.co
m/store/microsoft-excel-2019-data-
analysis-and-business-modeling-
9781509305889#downloads
Textbook Data Companion files
• The Winston Excel 2019 DABM
Companion Data Files can be downloaded
from this link:

https://ptgmedia.pearsoncmg.com/imprint_d
ownloads/microsoftpress/bookreg/97815093
05889/9781509305889_OnlineFiles3.zip
Let’s Begin
• How can I efficiently determine each of my
employee’s weekly wages?
• How can I efficiently determine how much a
bakery owes each supplier?
• How can I predict the number of customers a
new health club will have in 10 years?
• What does “Please excuse my dear Aunt Sally”
(PEMDAS) have to do with writing correct Excel
formulas?
• How can my local coffee shop determine how
changes in price and unit cost affect profit?
Pre requisite for the course
Pre-requisites
Evaluation

End Term Exam 50%


Quiz 20%
Assignments / Projects 30%

Total 100%
Analytic Revolution
Objectives
• Define Data Analytics
• Discuss different types of Analytics
• Discuss some use cases of Data analytics
• Discuss difference between Table,
Database and spreadsheet
Analytics: the practice of using
data to help make decisions that
better meet an organization's
objectives

13
Typical objectives
–maximizing profit,
–minimizing cost,
–reducing financial risk, crime
–improving health care & educational
outcomes, etc.

14
Analytics can
• Predicting the outcome of
– presidential elections
– games
• Determining how the
– placement of a product in a store determines product
sales
– course of treatment affects the chance of survival from
cancer
– marketing mix (advertising, price cuts, putting product on
display) affects the daily sales of 3M Scotch tape
• difficult because seasonality also affects sales, and the prediction
model must adjust for the effect of seasonality on sales
15
What do you need to know to do analytics?
• How to
– manipulate data in any form
• includes manipulation of non-quantitative data, such as tweets on Twitter
– bring disparate data sets together so that they can be used in an
analytics study
– analyze
• and manipulate data in Excel
• big data sets using a statistical package, such as R, SPSS, or SAS
– use optimization to find the best way to do something
• e.g., what space allocation to different products maximizes a department
store’s profits?
• Having the ability to
– program in a language such as Java or Python
• Knowledge of statistics,
– including all forms of predictive analytics and classification algorithms.
• e.g.,how can a person be classified as being a likely candidate for a heart attack?
• Knowing how a simulation
– can be used to model uncertain situations, such as the future value of
your MF portfolio or the queue at the hospital emergency room
16
The Analytics Revolution –
Challenges
With Challenges
Sourcing
Relevance
Quantity
Quality
Hosting
Governance
The Analytics Revolution – Skills
Required

Skills Required
 Understand and manipulate data in any form
(including text)
 Bring disparate data sets together
 Statistics, Algorithms and Simulation
 Program in a language such as Java or Python
 Analyse big data sets using statistical packages
like ‘R’
Opinions Are Good. Data is Better
Turn data into actionable
insights
Analysis is core of Data
Analytics

Engineering Analysis Modeling

Tools Techniques Business


Types of Analytics
https://www.intel.in/content/www/in/en/analytics/analytics-maturity-curve.html

What system
should learn? Cognitive
What should Analytics
Happen?
Prescriptiv
e Analytics
What could
happen
Predictive
Analytics
Why ? Diagnosti
c
What Has Analytics
Happened?
Descriptive
Analytics
[email protected]
9005372540

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