An Introduction to Business Data Analytics:

A Business Analysis Viewpoint

 BEHIND EFFECTIVE DECISION MAKING,
THERE IS A PROFUSION OF DATA AND METRICS,
BUT ABOVE ALL, THERE IS GREAT ANALYSIS

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Predicted Need of Corporates

Predicted need
of Corporates
 What We Will Cover

• What is Business Data

Analytics
• 5 Domains of Business Data
Analytics
• Opportunity for Business
Analysts
• How IIBA is Supporting
Organizations and Individuals
in analytics 4
Driving Change

▪ Move from IT centric reporting to business analytics

with self-service BI

▪ Gartner – “Citizen data scientist” coming to reality

▪ Business Intelligence – more than system of record

with less data modeling required (data lakes)

▪ Big Data Analytics of Customers and Partners

What is Business
Data Analytics?

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 BUSINESS DATA ANALYTICS

IIBA® Introduction to Business Data Analytics: A Practitioner’s View (2019) 7

 BUSINESS DATA ANALYTICS

• “a practice by which a specific set of techniques,

competencies, and procedures are applied to perform
continuous exploration, iteration, and investigation of
past and current business data for the purposes of
obtaining insights about a business that can lead to
improved decision-making.”

IIBA® Introduction to Business Data Analytics: A Practitioner’s View (2019) 8

Identify Research Source Data Analyze Data
Questions Determining what data is Determining how data
Framing the research needed to answer the analysis will be
question that business research question, and performed including
analytics will be used to assessing its quality. which models and
answer. Align to business Solve the right problem! mathmatical techniques
imperatives. will be used. Make sense
Use Results to Influence of the data!
Interpret and Report
Results Decision Making
Using the results from data Use results from analytics to help
analytics to glean insights the business make informed
and determine how best to decisions.
communicate the
outcomes. 9
IDENTIFY THE RESEARCH QUESTIONS

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IDENTIFY THE RESEARCH QUESTIONS
ACTIVITIES

Defining the Assessing

Business the Current
Problem or State
Opportunity

Identify the
Research
Question

Defining the Framing the

Future State Research
Question

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SOURCE THE DATA

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SOURCE THE DATA ACTIVITIES

Data Needed? Determine

Determine what
what data
data is needed
is needed to answer
to answer thethe question
question

• Identify what data is already collected?

Identify what data is collected and which is still needed
Data Exists?

Timing? Whoa!
MakeMake
That’s decisions
decisions on how/when
a big number, aren’t
on how/when to
toyou collect
proud?
collect data & what to scrub
data

• Make decisions on how/when to collect data

Quality? Assess the quality of the data collected – explore the data

Adjust Approach? Make changes to the acquisition approach as needed

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ANALYZE THE DATA

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ANALYZE THEDomain 3: Analyze Data
DATA ACTIVITIES

Perform Results Make

Prepare data
data analysis helpful? adjustments

Whoa! That’s a big number, aren’t you proud?

Consider creating a hypothesis and experimenting with data

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INTERPRET AND REPORT RESULTS

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INTERPRET AND REPORT RESULTS BA ACTIVITIES

•• Identify
Identifyand
andunderstand
understandstakeholders
stakeholders
1

•• Plan
Planstakeholder
stakeholdercommunication
communication
2

• Determine
Determinecommunication
communicationneeds
needs
3

•• Derive
Deriveinsights
insightsfrom
fromdata
data
4

• Document/communicate findings from completed

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• analysis
Communicate insights in business context
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 Domain
Storytelling with Data 3: Analyze Data

3 U’s of Data Storytelling Data Storytelling Tips & Tricks

• Understand Your Data • Simplicity
• Understand Your Business • Connection
. Question or NeedWhoa! That’s a big number, aren’t you proud?

• Understand Your Audience • Visualizations

• Context

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StoryTelling with Visualizations

1
•• What
Whatis the right
is the graph
right forfor
graph thethe
story and
story situation
and situation

2 • What does the audience need to know

3 • Avoid Clutter- Keep it simple

4 • Focus the Audience attention with visual perception

5 • Derive insights from data – highlight important stuff

6 • End with a ‘call to action’ of what audience is to do

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USE RESULTS TO INFLUENCE DECISION
MAKING

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USE RESULTS TO INFLUENCE DECISION MAKING
ACTIVITIES

Decision Maker Perspectives to Consider –

- Intuition vs. Data
Recommend - Data + Instinct = Data Informed

Storytelling is the KEY to influence and

action outcomes
Implement
Whoa! That’s a big number, aren’t you proud?
Visualizations help tell the Story

Focus on INSIGHTS
Manage Change - It is about new discovery or novel viewpoint
- It is NOT about aggregated data or a
summary of findings.

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 The
Opportunity
for Business
Analysts

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 Top Business Data
Analytics Roadblocks
• Lack of
management/financial
support

• Failure to create a
clear question to
answer

• Inability to explain
and communicate
the results of the
research
• Decision-makers not
using the results of
analytics
Kaggle - 2017 State of Data Science 23
 The new-age BA or BTA
Evolving role of BA in
the data science age
Not just a ‘requirement guru’

Draws insights from data

Storyteller – Builds narratives inclusive of data

Adept at visualization

Drives evidence-based decision making

Takes a human-centric approach

An industry and business expert

How BAs can drive insight-driven decision making
Business Your Role Data Scientist
Requirements

Forecasting
Analysis and
Decision-Making Apply Analytics
Validation of Analytics Findings
Tools
Business Model
Performance
Improvement

Business
Insights

Decisions Results

Adapted from: CGMA (2013), “From Insight to Impact: Unlocking Opportunities in Big Data”

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The Value of the Business Analyst

Data Science Context BA Role Purpose

Obtain Data Data Business Context What is the right
Business Imperative question? What data
needed?
Scrub Data Information Accurate picture of Is data valuable and
business problem reliable?
Explore and Model Knowledge What insights are aligned Makes Sense. Resolve
to business? intuition vs. data
supported insight.
Interpret Data Understanding Storytelling & Insight that is fit for the
Visualization from Insights business outcome
needed.
------- Wisdom Consultative Actionable Insights –
recommendations Decision Input
Change Management
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 How IIBA Will
Support
Organizations and
Individuals With the
Practice of
Business Data
Analytics

Fu
Future Plans:
1. Full ‘Guide’
2. Digital Tools, Templates
3. More use case scenarios
4. More exam prep info
5. More linking to ‘digital’

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BUSINESS DATA
ANALYTICS
• Explainer
Videos
• Infographics
• Introductions
• Supporting Paper
Introductions to Business Data Analytics
Papers
• Webinars
• CBDA
Certification
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Explainer Video White papers
 Questions?

For product related questions….

• [email protected]
• [email protected]
• [email protected]

Let’s connect…

Learn more about data

https://thedataliteracyproject.org
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