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Assignment 1: Data Analytics For Business Decision

This document discusses a research project analyzing critical success factors for students. It provides examples of different types of data used in business analytics, including predictive, descriptive, prescriptive, and diagnostic data. It then shows sample data collected as part of a study examining relationships between student GPA, points earned, gender, generation, work hours, area of study, pet ownership, and pursuing a PhD. Statistical analysis was conducted including t-tests, ANOVA, and chi-square tests, and the results found no significant differences between the variables tested.

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307 views6 pages

Assignment 1: Data Analytics For Business Decision

This document discusses a research project analyzing critical success factors for students. It provides examples of different types of data used in business analytics, including predictive, descriptive, prescriptive, and diagnostic data. It then shows sample data collected as part of a study examining relationships between student GPA, points earned, gender, generation, work hours, area of study, pet ownership, and pursuing a PhD. Statistical analysis was conducted including t-tests, ANOVA, and chi-square tests, and the results found no significant differences between the variables tested.

Uploaded by

gautam maggoVWsKrHajMQ
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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Assignment 1 : Data Analytics for Business Decision

Question 1:
Explain various types of Data. Give examples of all levels of data used in business analytics.
Solution:
The various types of data used in business analytics are,
• Predictive Data - Predictive analytics transforms data into useful, actionable data. Data is
used in predictive analytics to anticipate the likely outcome of an event or the likelihood
of a condition occurring. Predictive analytics encompasses a wide range of statistical
approaches including as modelling, machine learning, data mining, and game theory, all of
which examine current and historical data to create predictions about the future. The
following are some of the techniques used in predictive analytics: Linear Regression, Time
series analysis and forecasting, Data Mining.

• Descriptive Data - Descriptive analytics examines data and analyses previous events in
order to provide insight into how to approach future events. It analyses and comprehends
prior performance by mining historical data to determine what caused success or failure in
the past. This form of analysis is used in almost all management reporting, including sales,
marketing, operations, and finance. The descriptive model quantifies data relationships in
a way that is frequently used to group consumers or prospects. Unlike predictive models,
which focus on predicting the behavior of a particular consumer, descriptive analytics
discovers a variety of customer-product correlations.

• Prescriptive Data - Prescriptive analytics automatically combines big data, mathematics,


business rules, and machine learning to produce a forecast and then provides a decision
alternative to capitalize on the prediction. Prescriptive analytics goes beyond forecasting
future events by recommending actions based on the predictions and displaying the
implications of each decision option to the decision maker. Prescriptive analytics predicts
not just what will happen and when it will happen, but also why. Prescriptive Analytics
can also provide decision options for how to capitalize on a future opportunity or avoid a
future danger, as well as illustrate the implications of each option.

• Diagnostic Data - To answer any query or solve any problem, we typically use historical
data above other data in this study. We look for any patterns or dependencies in the
historical data of the problem.
Question 2:
Mr. V. S. Yadav is doing a research project on ‘Critical success factors of students’ and has
prepared set of questionnaires. The questionnaire designed for the students’ given below has been
duly administered and necessary data have been collected.
Solution:
Sample Data collected for the given tests to conduct.

Different Results,
• T-Test Result on whether ‘gpa’ and ‘points’ varies across ‘gender’.
Interpretation,
The T-Test result signifies the p value (Sig. 2-tailled) to be 0.759 and 0.776 for ‘gpa’ and ‘points’
respectively with respect to ‘gender’. Both the values are greater than 0.05, and we know that when
p value > 0.05, it is Null Hypothesis, and when the p value < 0.05, it is Alternate Hypothesis. So,
the hypothesis here is Null Hypothesis.
Thus, there is no significant difference between ‘gpa’, ‘points’ and ‘gender’.

• One Way ANOVA result of ‘older generation’ with ‘gpa’, ‘points’, work hour’ and
‘study’.

Interpretation,
The ANOVA result signifies the p value (Sig.) to be 0.972, 0.714, 0.673 and 0.868 for ‘gpa’,
‘points’, ‘work hour’ and ‘study’ respectively with respect to ‘older generation’. All the values are
greater than 0.05, and we know that when p value > 0.05, it is Null Hypothesis, and when the p
value < 0.05, it is Alternate Hypothesis. So, the hypothesis here is Null Hypothesis.
Thus, there is no significant difference between ‘gpa’, ‘points’, ‘work hour’, ‘study’ and ‘older
generation’.
• One Way ANOVA result with ‘younger generation’ with ‘gpa’, ‘points’, work hour’ and
‘study’.

Interpretation,
The ANOVA result signifies the p value (Sig.) to be 0.431, 0.832, 0.439 and 0.703 for ‘gpa’,
‘points’, ‘work hour’ and ‘study’ respectively with respect to ‘younger generation’. All the values
are greater than 0.05, and we know that when p value > 0.05, it is Null Hypothesis, and when the
p value < 0.05, it is Alternate Hypothesis. So, the hypothesis here is Null Hypothesis.
Thus, there is no significant difference between ‘gpa’, ‘points’, ‘work hour’, ‘study’ and ‘younger
generation’.
• Chi Square Test result between the following,

1. Gender and pHD

Interpretation,
The Chi Square Test result signifies the p value (Asymp. Sig. 2 sided) to be 0.692 for ‘pHD’ with
respect to ‘Gender’. The value is greater than 0.05, and we know that when p value > 0.05, it is
Null Hypothesis, and when the p value < 0.05, it is Alternate Hypothesis. So, the hypothesis here
is Null Hypothesis.
Thus, there is no significant difference between ‘pHD’ and ‘Gender’.

2. Gender and pet


Interpretation,
The Chi Square Test result signifies the p value (Asymp. Sig. 2 sided) to be 0.133 for ‘pet’ with
respect to ‘Gender’. The value is greater than 0.05, and we know that when p value > 0.05, it is
Null Hypothesis, and when the p value < 0.05, it is Alternate Hypothesis. So, the hypothesis here
is Null Hypothesis.
Thus, there is no significant difference between ‘pet’ and ‘Gender’.

3. Gender and area

Interpretation,
The Chi Square Test result signifies the p value (Asymp. Sig. 2 sided) to be 0.775 for ‘area’ with
respect to ‘Gender’. The value is greater than 0.05, and we know that when p value > 0.05, it is
Null Hypothesis, and when the p value < 0.05, it is Alternate Hypothesis. So, the hypothesis here
is Null Hypothesis.
Thus, there is no significant difference between ‘area’ and ‘Gender’.

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