Dr Amita Sarwade

 Attendance- 10 Marks
 Assignment- 10Marks
 Class Test- 10 Marks
 Class Test 2- 10 Marks
 Remedial Online MCQ-10 Marks
 Online MCQ Test- 10 Marks
 Theory Paper 40 Marks

 Total 100 Marks

Analytics is the use of:
• data,
• information technology,
• statistical analysis,
• quantitative methods, and
• mathematical or computer-based models

to gain improved insight about business operations and

make better, fact-based decisions.

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Analytics is the use of:
• data,
• information technology,
• statistical analysis,
• quantitative methods, and
• mathematical or computer-based models

to gain improved insight about business operations

and make better, fact-based decisions.

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 Business Analytics Applications
🞂 Management of customer
relationships
🞂 Financial and marketing activities
🞂 Supply chain management
🞂 Human resource planning
🞂 Pricing decisions

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 There is a strong relationship of BA with:
-profitability of businesses
-revenue of businesses
-shareholder return
 🞂 BA enhances understanding of data
 🞂 BA is vital for businesses to remain competitive
 🞂 BA enables creation of informative reports
 Evolution of Business Analytics

• Operations research
• Management science
• Business intelligence
• Decision support systems
• Personal computer software
 Descriptive analytics
-uses data to understand past and present
 🞂 Predictive analytics
-analyzes past performance
 🞂 Prescriptive analytics
-uses optimization techniques
Analytics in Practice:
Harrah’s Entertainment
• Harrah’s owns numerous hotels and casinos
• Uses analytics to:
- forecast demand for rooms
- segment customers by gaming activities
• Uses prescriptive models to:
- set room rates
- allocate rooms
- offer perks and rewards to customers

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 Descriptive Analytics
• Descriptive analytics, such as reporting/OLAP,
dashboards, and data visualization, have been
widely used for some time.
• They are the core of traditional BI.

What has occurred?

Descriptive analytics, such as data
visualization, is important in helping
users interpret the output from
predictive and predictive analytics.
 Predictive Analytics
• Algorithms for predictive analytics, such as regression
analysis, machine learning, and neural networks, have
also been around for some time.
• Prescriptive analytics are often referred to as advanced
analytics.

What will occur?

• Marketing is the target for many predictive analytics
applications.
• Descriptive analytics, such as data visualization, is
important in helping users interpret the output from
predictive and prescriptive analytics.
 Prescriptive Analytics
• Prescriptive analytics are often referred to as
advanced analytics.
• Regression analysis, machine learning, and
neural networks
• Often for the allocation of scarce resources

What should
occur?
• For example, the use of mathematical programming for revenue
management is common for organizations that have “perishable” goods
(e.g., rental cars, hotel rooms, airline seats).
• Harrah’s has been using revenue management for hotel room pricing for
some time.
 A better understanding of user behavior-:
By collecting and analyzing data on how users
interact with software, developers can identify
patterns and trends that can inform the
design and development process. This helps
ensure that the software meets the needs of
its users and provides a better user
experience.
By analyzing data on development processes
and workflows, developers can identify areas
where improvements can be made to
streamline the process. This can lead to
reduced development time and lower costs.
 By analyzing data on bugs and defects,
developers can identify areas where
improvements can be made to reduce the
number of bugs and improve software
stability. This ensures that the software is
reliable and meets the needs of its users.
 Utilizing data analysis can significantly
improve marketing efforts. Understanding
customer preferences and behavior can help
businesses allocate marketing budgets
effectively and reach target audiences more
efficiently.
 :
Data can identify areas of a business's
operations that are inefficient and costly.
Analyzing financial performance can also help
in achieving operational efficiency and
streamlining the development process.
 Data allows for an assessment of the demand
for a digital solution in the market, enabling
businesses to make informed investment
decisions. Analytical tools can also forecast
market trends and predict changes in
consumer preferences, aiding in the
development of effective strategies.
 With the increasing use of AI-powered
decision-making tools, businesses are now
able to analyze competitors' products and
services and conduct user research to better
understand potential target markets. This
enables them to remain competitive and
relevant in their industry.
 By collecting and analyzing data on customer
feedback, developers can identify areas where
improvements can be made to the software.
This can lead to increased customer
satisfaction and loyalty.
 Analyzing development costs and timelines
data, developers can identify areas where
resources are underutilized or overused. This
can help ensure that resources are allocated
as efficiently and effectively as possible.
 By collecting and analyzing data on project
timelines, budgets, and milestones, project
managers can identify areas where
improvements can be made to ensure that
projects are delivered on time and within
budget. This can help reduce project delays
and ensure that projects are completed
successfully.
 Stage 1: Define Objectives and Goals
The journey begins with a clear understanding
of the organization’s objectives and goals.
Whether it’s improving operational efficiency,
enhancing customer experience, or increasing
revenue, defining these objectives lays the
foundation for the entire analytics process.
Collaborating closely with stakeholders across
departments ensures alignment between
business goals and analytical initiatives
 Once objectives are defined, the next step is
to gather relevant data from disparate
sources. This data can include internal
sources such as sales records, customer
databases, and operational logs, as well as
external sources like market trends, social
media, and industry reports. Data integration
is crucial here to ensure consistency and
accuracy, often involving data cleansing and
preprocessing to remove duplicates, errors,
and inconsistencies
 With data in hand, analysts dive into the
exploration and analysis phase. This involves
applying statistical techniques, data mining
algorithms, and visualization tools to uncover
patterns, trends, and relationships within the
data. Exploratory data analysis helps in
identifying insights and hypotheses that can
guide further investigation.
 In this stage, analysts develop mathematical
models and algorithms to predict future
outcomes or uncover hidden insights.
Whether it’s regression analysis, machine
learning algorithms, or predictive modeling,
the goal is to build robust models that can
generalize well to unseen data. Rigorous
testing and validation ensure the reliability
and accuracy of the models before
deployment.
 Once models are developed and tested, they
are ready for deployment into the operational
environment. This may involve integrating
them into existing systems, creating user
interfaces for stakeholders to interact with, or
automating decision-making processes.
Collaboration between data scientists, IT
professionals, and business stakeholders is
essential to ensure seamless implementation.
 Analytics is not a one-time effort but an
ongoing process. Continuous monitoring of
model performance, data quality, and
business outcomes is crucial to ensure that
insights remain relevant and actionable.
Regular maintenance and updates may be
required to adapt to changing business
dynamics, evolving market conditions, and
technological advancements.
 The final stage of the analytics life cycle
involves evaluating the impact of analytical
insights on business outcomes. Key
performance indicators (KPIs) are monitored
to assess the effectiveness of analytics-driven
decisions. This feedback loop informs
ongoing optimization efforts, enabling
organizations to refine models, processes,
and strategies to drive continuous
improvement.
 Business Analytics Tools
Business Analytics tools help analysts to
perform the tasks at hand and generate reports
which may be easy for a layman to understand.
These tools can be obtained from open
source platforms, and enable business analysts
to manage their insights in a
comprehensive manner. They tend to be
flexible and user-friendly. Various business
analytics tools and techniques like.
Python is very flexible and can also be used in
web scripting. It is mainly
applied when there is a need for integrating the
data analyzed with a web
application or the statistics is to be used in a
database production. The I Python
Notebook facilitates and makes it easy to work
with Python and data. One can
share notebooks with other people without
necessarily telling them to install
anything which reduces code organizing overhead
SAS The tool has a user-friendly GUI and can
churn through terabytes of data
with ease. It comes with an extensive
documentation and tutorial base which
can help early learners get started seamlessly
 R is open source software and is completely
free to use making it easier for
individual professionals or students starting
out to learn. Graphical capabilities
or data visualization is the strongest forte of R
with R having access to
packages like GGPlot, RGIS, Lattice, and GGVIS
among others which provide
superior graphical competency.
is the most popular and advanced data
visualization tool in the
market. Story-telling and presenting data
insights in a comprehensive way has
become one of the trademarks of a competent
business analyst Tableau is a
great platform to develop customized
visualizations in no time, thanks to the
drop and drag features.