Business Analytics And

Business Intelligence

Business Analytics

• It is the Combination

– Skills

– Technologies

– Applications and

– Processes

– Used by Organizations

– On Data and Statistics

Objective

• It is about using Data and Models

– To Make Better Decisions

– To Improve Policy Making

– To Develop Strategy

– To Improve Performance of Organisation

Importance

• It Ensures High Chances of Success

• It Permits Managers to ensure that Precise

Information is Circulated and Understood by

Everyone

• It Ensures that the Decisions that are Beneficial for

the Business

1.Define the Business

Need 2.Explore the Data

3.Analyze the Data

4.Predict What is likely

to Happen

5.Find the best

solution

6.Make a Decision

7.Update the system with

Result of Decision

7-Steps of Business Analytics

Process

Business intelligence

• It is a Process used by Companies

– To Gather Information from various Business

Fields

– To Transform it later into Knowledge that can be

used to Understand Needs or to Make Decisions

Objective

• Better Decision-Making

• Improve Operational Efficiency

• Growth in Revenue

• Increase Competitive Advantage

• Enhance Customer Service

Importance

• Boost Productivity

• Access to Better Information

• Competent Decision Making

• Results Closer to Established Goal

• Better Return on Investment

Tools Used in Business Intelligence

• Spreadsheets

– Program for Organization for Analysis and Storage of Data in Tabular Form

• Reporting and Querying Software:

– Tools that Extract, Sort, Summarize, and Present Selected Data e.g. Oracle

Reports, Oracle Discoverer

• OLAP: Online Analytical Processing

– An Approach to Answering Multi-Dimensional Analytical (MDA) Queries Swiftly

– It Compresses of Relational Database, Report Writing and Data Mining

Continue...

• Digital Dashboards

– An Easy to Read a Graphical Presentation of the Current Status

• Data Mining

– The Computational Process of Discovering Patterns in Large Data Sets

• Data Warehousing

– A System used for Reporting and Data Analysis

• Local Information Systems

– A Form of Information System to Support Geographic Reporting

Predictive Modeling

• It is a process used in Business Analytics

– To Create a Statistical Model of Future Behavior

• It is the area of Data Mining concerned with

– Forecasting Probabilities and

– Trends

Objective

• To Ascertain

– The Likelihood a Prospect will Buy

– The Chance a Prospect will Respond to an Ad

– The Ideal Profile of a Customer

– When a Customer is Likely to Churn

7 Steps in Predictive Modeling

1. Defining the Objective2. Gathering the Data3. Preparing the Data for Modeling4. Selecting and Transforming the Variables5. Processing and Evaluating the Model6. Validating the Model7. Implementing and Maintaining the Model

Presented By:-Tushar Rathi 158