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Business Analytics

The document discusses key topics in business analytics including objectives of data analytics courses, importance of analytics for business, common course content and techniques used. It covers concepts like data types, data mining, machine learning algorithms, and the steps involved in data analytics projects from data collection to interpretation of results.

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Abhishek Sahu
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72 views25 pages

Business Analytics

The document discusses key topics in business analytics including objectives of data analytics courses, importance of analytics for business, common course content and techniques used. It covers concepts like data types, data mining, machine learning algorithms, and the steps involved in data analytics projects from data collection to interpretation of results.

Uploaded by

Abhishek Sahu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Business Analytics

Objective of the course


 To learn about
 What is data, data analytics and data analysis
 Why data analytics is important for business environment
 How to work with real time data
 How to choose the right methodology
 Why to use the particular technique
 How to use the technique properly and interpret result correctly
Why business analytics
 To
 Enhance customer experience
 Make informed decision
 Reduce employee turnover
 Improve efficiency
 Identify Frauds
 Improved Advertising
 Better product management
 Handle complex problems
 Conduct competitor analysis
Course Content
• Introduction to data analytics, objective, data and its
importance, classification of data analytics, elements of data
analytics and different data representation.
• Probability and Distribution: sampling and sampling
distribution etc
• Statistics: Hypothesis Testing, Null Hypothesis and alternate
hypothesis with examples.
• Regression Testing: Linear regression / multiple regressions.
Course Content
• Machine Learning Algorithms: Chi square test, K- nearest
neighbour algorithm
• Supervised Learning: Classification techniques
• Perspective Analysis: K-means clustering cluster analysis
• Hands on session on python Programming for data analytics
fundamentals row and column operations etc
• Hands on session on python Programming for data analytics
for clustering/ classification
• Demonstration of SAP for any business organization, its work
flow and working mechanism
Data and its Importance
 Data definition and its hierarchy
 Different Levels of data
 Nominal
 Ordinal
 Interval
 Ratio
 Importance of data
 Helps in better decision making
 Solve problem by finding reason of underperformance
 Helps in evaluating the performance
 Helps in improve the process
 Helps in understanding the consumer and market
How data add values to business process

 Deployment of data product


Algorithmic solution for production, marketing, and sales
Recommendation Engines

 Discovery of data insight


Quantitative data analysis to help strategic decision
Data analytics

 Definition
Defined as scientific process of transforming data to insights for
making better decisions

 Importance of data analytics


Determination of credit risk
Efficient way to deliver product and services
Preventing Fraud
Uncovering Cyber threats
Retaining the most valuable customer
Classification of data analytics

 Classification
Descriptive
Diagnostic
Predictive
Prescriptive
Data analytics and Data analysis
 Data analytics
 Defined as scientific process of transforming data to insights for
making better decisions

 Data analysis
 It is a process of examining, transforming and arranging raw data in
specific way to generate useful information
 Analysis allow the evaluation of data to led some sort of conclusion
 It involves number of steps, approaches, and diverse techniques

Analysis: Past, How and What has happened


Analytics: Prediction for Future
Elements of Data analytics
 Elements
Statistics
Data Mining
Business Intelligence
 Artificial Intelligence
 Machine Learning
 Soft Computing
Optimization and Modelling
Steps for data analytics

 Data collection and Integration


 Data cleaning and transformation
 Data storage and management
 Data access and analysis
Data Mining
 Frequent Patterns
 Apriority algorithm
 Association
 Association rule mining
 Correlation
 Classification
 Rule based classification, SVM, BP
 Prediction
 Linear regression
 Clustering
 Density based, grid based
 Outlier analysis
Importance of Data mining

 It is the process of extracting or discovering interesting


knowledge from large volumes of data
 Mining helps in turning huge amount of data into useful
information and knowledge
 Market analysis, customer retention, production control
etc
 It is also known as knowledge discovery from data
Importance of Data mining

 Interesting
 Non trivial (not generalized)
 Implicit (logically true)
 Previously unknown
 Potentially useful

 Knowledge
 Fact and Principles or justified believe
 Meaningful and coherent expression that can be represented
Importance of Data mining

 Knowledge
 Can be represented in terms of
 Rules
 Patterns
 Regularities
 Non trivial (not generalized)
 Intelligence
 Ability to acquire, understand, and apply knowledge is called
Intelligence
Online Analytical Processing(OLAP)
 Users: Knowledge Workers
 Function: Decision support operation
 DB Design: Application Oriented
 Data: Historical, summarised, consolidated, integrated
 Usage: Adhoc
 Access: read, write, index, hash
 Online: Complex Queries
 Number of Users: Minimal
 DB size: 100 GB to TB
 Performance matrix: Query Throughput
Data Preprocessing
 Requirement of pre-processing
 Data may Incomplete:
 Attribute of Interest may not be available
 Some data are not considered at the time of entry
 Relevant data may not be recorded due to malfunctioning of equipments
 Noisy
 Collecting instruments may be noisy
 Human error
 Errors in data transmission
 Technology limits like buffer size etc.
 Inconsistent
Dirty Data
 Syntactically dirty data
 Logical error and irregularities
 Semantically dirty data
 Integrity constraints violation
 Redundancy
 Coverage anomaly
 Missing attributes and missing records
Data Cleaning
 Ignore the data
 Manually filling
 Use global constant to fill missing values
 Attribute mean to fill missing values
Consistency of Data
 ETL model

 Extraction: Process of reading data from different sources


 Transformation: Extracting data from original state to consistent state
 Loading: Process of writing data into target sources
Consistency of Data
 Data Extraction
 Logical extraction: Full and Incremental
 Physical extraction: Online, Offline, OLTP
 Data Transformation
 Splitting / Joining
 Conversion: Formatting or decoding
 Reduction
 Enrichment
 Summarization
 Loading
 Checking data freshness: full data, incremental, real time refresh

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