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Intl Business

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praneetha kasala
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10 views31 pages

Intl Business

Uploaded by

praneetha kasala
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Topic: Strategy and Firm

Course: International Business


Course Leader: Dr. Vimal Raj L
Group 8

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GROUP MEMBERS -

NAME REG-NO.

1. Sai Praneetha Kasala 22MCMS017055

2. Minnu Tom 22MCMS017098

3. Sandesh Bino 22MCMS017057

4. Manvanth Vinay Mudigal 22MCMS017040

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An Introduction to Business Analytics

What Is Business Analytics?

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Evolution of Business Analytics

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Evolution of Business Analytics

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Evolution of Business Analytics

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Evolution of Business Analytics

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Evolution of Business Analytics

5000 BC: Grog uses two sticks and four rocks to graph the upward
trend in sales of his new invention, the wheel.
WW2: It has its roots in operations research, which was extensively
used during World War II. Operations research was an analytical way to
look at data to conduct military operations.
1976: SAS is formed and begins to give businesses The Power to Know
1976-TO PRESENT: Rapid Technology Innovations and AI integration

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Significance of Business Analytics

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Significance of Business Analytics

To make data-driven decisions


Converts available data into valuable information.
Eliminate guesswork
Get faster answer to questions
Get insight into customer behavior
Get key business metrics reports when and where needed

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Types Of Business Analytics

• Descriptive Analytics

• Predictive analytics

• Prescriptive analytics

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Descriptive Analysis

• This branch of Business Analytics


analyses and finds
• answer the question- “What has
happened in the past?”.
• Descriptive analysis performs the
function of “describing” or
summarizing raw data to make it
easily understandable and
interpretable by humans.
• Example: Dashboard, Report, Trend
analysis
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Descriptive Analysis

• This branch of Business Analytics


analyses and finds
• answer the question- “What has
happened in the past?”.
• Descriptive analysis performs the
function of “describing” or
summarizing raw data to make it
easily understandable and
interpretable by humans.
• Example: Dashboard, Report, Trend
analysis
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Predictive Analysis

• This branch of Business Analytics uses forecasting


• techniques and statistical models to find out-
• What is going to happen in future?
• • Predictive analysis helps us in predicting the future
• The course of events and taking necessary measures for the
• same.
• Example: Sales Forecast, Risk Assessment, Customer behaviour
prediction

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Predictive Analysis

• This branch of Business Analytics uses forecasting


• techniques and statistical models to find out-
• What is going to happen in future?
• • Predictive analysis helps us in predicting the future
• The course of events and taking necessary measures for the
• same.
• Example: Sales Forecast, Risk Assessment, Customer behaviour
prediction

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Prescriptive Analysis

• This branch of Analytics makes use of


optimization and simulation
• algorithms to find answers to the question-
“What should we do?”.
• Prescriptive Analysis is used to advise on
possible outcomes.
• This relatively new field of analytics allows
users to recommend several possible
solutions to problems and guide them to
the best possible course of action.
• Example: Inventory Optimization, Resource
Allocation, Recommendation Engines
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Challenges of Business Analystics

• Data Quality and Integration


• Cost of technology and tools
• Skills Gap and Talent Shortage
• Data Privacy and Security
• Resistance to change

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THANK YOU

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THANK YOU

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THANK YOU

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