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Bana Reviewer 2

The document outlines key concepts in business analytics, including the importance of marketing objectives and operation management. It covers various types of analytics such as descriptive, predictive, and prescriptive analytics, along with their applications in marketing and operations. Additionally, it discusses internal control, risk management, and the role of data analytics in improving business decisions.

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CAPISTRANO, ROVIC G.
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24 views5 pages

Bana Reviewer 2

The document outlines key concepts in business analytics, including the importance of marketing objectives and operation management. It covers various types of analytics such as descriptive, predictive, and prescriptive analytics, along with their applications in marketing and operations. Additionally, it discusses internal control, risk management, and the role of data analytics in improving business decisions.

Uploaded by

CAPISTRANO, ROVIC G.
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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Module 4 BAFBANA

BUSINESS ANALYTICS APPLICATION

IDENTIFICATION (15 ITEMS) 2 PTS EACH

TRUE OR FALSE, MODIFIED 10PTS

2 ESSAY

ESSAY

• IMPORTANCE OF MARKETING OBJECTIVE

The importance of marketing objectives is to help businesses to tailor their marketing strategies to
attract their audience

• IMPORTANCE OF OPERATION MANAGEMENT

Operation management is important because it helps businesses manage goods, services and people

IDENTIFICATION

INTERNAL CONTROL

- Internal control is a key component in ensuring the achievement of organization’s objectives.

- It ensures integrity of financial information and policy compliance, safeguards assets and prevents
fraud, and promotes efficiency and effectiveness in operations.

OPERATION ANALYTICS

- Operations analytics deals with data mining, data aggregation, and analytical models geared towards
improving existing operations and company profitability.

OPERATION RESEARCH

-
BUSINESS ANALYTICS

- business analytics includes methods and techniques used by an organization to measure its
performance.

- include statistical tools used to evaluate an organization, predict its performance, and prescribe ways
to enhance its productivity and profitability

- is the use of data, information technology, statistical analysis, quantitative methods, and mathematical
or computer-based models to help managers gain improved insight about business operations and make
better, fact-based decisions (Evans, 2012).

MARKETING ANALYTICS

- Marketing analytics is the practice of managing and studying metrics data in order to determine the
ROI of marketing efforts, as well as the act of identifying opportunities for improvement.

RISK MANAGEMENT

- involved in the identification, analysis, and mitigation of investment decisions.

AUDIT ANALYTICS

PRESCRIPTIVE ANALYTICS

- Primarily concern with providing solution/ recommendation

TRUE OR FALSE

DATABASE IS THE SPACE IN THE DISK. TRUE

DBMS IS IT A SOFTWARE. TRUE

MANIPULATION OF DATA WE CAN CRUD. TRUE


PREDICTIVE ANALYTICS

- this is used to determine relationships between two different types of data and making predictions
about future data

DESCRIPTIVE ANALYTICS

- this is the data that is used to benchmark or to profile

PRESCRIPTIVE ANALYTICS

- this is used to create recommendations through simulation and optimization models.

DATA ANALYTICS

- is a tool which is transforming how businesses use, measure, and optimize available data.

- science of examining raw data to draw conclusions to improve business decisions.

MARKETING ANALYTICS

- is the practice of managing and studying metrics data in order to determine the ROI of marketing
efforts, as well as the act of identifying opportunities for improvement.

TYPES OF ANALYTICS USED IN MARKETING

• DESCRIPTIVE ANALYTICS

• PREDICTIVE ANALYTICS

• PRESCRIPTIVE ANALYTICS

OPERATION MANAGEMENT (lecture video)


- how organization get things done

- 80% of the organizations has operation management

SUPPLY CHAIN ANALYTICS

- global network used to deliver products and services from raw materials to end customer through a
flow of information.

FRAUD

- involves the use of deception for one’s gain. It can include activities such as theft, bribery, extortion,
money laundering and the like.

PEOPLE ANALYTICS

- also known as HR analytics.

- applies data science, and statistical models to be able to help organizations make better decisions in
terms of their investment in their workforce. It helps companies make smarter and more strategic
decisions when it comes to hiring people, and increasing employee performance and retention.

TYPES OF ANALYTICS

1. DESCRIPTIVE : data-driven benchmarking

2. PREDICTIVE : data driven prediction

3. PRESCRIPTIVE: data driven recommendation

MODIFIED TRUE OR FALSE

The first step in turning data into analytics is data warehouse phase. - (EXTRACTION)

Recovery service is the initialization and maintenance operation on database. - (UTILITY SERVICES)
DBMS is a software package or a software that allows you to store, retrieve package in database. -
(TRUE)

The process of turning raw data into business action is the framework for business analytics. - (TRUE)

In every database system, the heart of each system is what you call the data. - (TRUE)

Manipulation of data tell us that we can crud our data within the database management system. -
(TRUE)

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