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    Business Analytics
    Business Analytics
    Business Analytics
    Ebook77 pages50 minutes

    Business Analytics

    By Hiriyappa .B

    4/5

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    About this ebook

    Nowadays significantly increasing the complexity of the business problems due to the limited ability of the human mind to analyze the alternative choice of solutions and the limited, specified time available for decision making. This book helps analysts Interpret data to inform business decisions, recognize trends, detect outliers, and summarize data sets, Analyze relationships between variables, Develop, test hypotheses and find outcomes of the business trends.

    LanguageEnglish
    PublisherHiriyappa .B
    Release dateJan 6, 2020
    ISBN9781370040704
    Business Analytics
    Author

    Hiriyappa .B

    Dr.Hiriyappa.B is a Ph.D., MPhil., MCom. Coordinator, Department of Post Graduation Studies in Commerce. He has Coach, Trainer, Speaker and Consultant in Management.

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      Book preview

      Business Analytics - Hiriyappa .B

      Business Analytics by Dr Hiriyappa B © 2020 by Dr Hiriyappa B. All rights reserved.

      Smashwords Edition

      ISBN:  9781370040704

      No part of this book may be reproduced in any written, electronic, recording, or photocopying without written permission of the publisher or author. The exception would be in the case of brief quotations embodied in the critical articles or reviews and pages where permission is specifically granted by the publisher or author.

      Although every precaution has been taken to verify the accuracy of the information contained herein, the author and publisher assume no responsibility for any errors or omissions. No liability is assumed for damages that may result from the use of information contained within.

      Contents

      Introduction to Analytics

      Business Analytics

      Evolution of business analytics

      Scope of business analytics

      Importance of business analytics

      Data use for analytics

      Challenges of Business Analytics

      Benefits and advantages of implementing business analytics

      Challenges in implementing business analytics in an organization

      How Business Analytics Helps Companies

      Business Analytics Process

      Step 1: Defining the business needs and requirementStep 2:Explore the structured and unstructured data

      Step 3: Analyze the dataStep 4:Predict what is likely to happen

      Step 5:Optimize to find the best solution

      Step 6: Make a strategic decision and measure the outcome

      Step 7:Update the system with the results of the strategic decision

      Types of Business Analytics

      Descriptive analytics

      Predictive analytics

      Diagnostic analytics

      Prescriptive analytics

      Decision analytics

      Business Analytics Tools for Business

      Open-source analytics tools

      R

      Python

      Apache Spark

      Apache Storm

      PIG and HIVE

      Commercial analytics tools

      SAS

      Tableau

      Excel

      QlikView

      Splunk

      Other business analytical tools

      Business analytics applications

      Financial analytics

      Human resource analytics

      Marketing analytics

      Health care analytics

      Supply-chain analytics

      Web analytics

      CRM analytics

      Career in Business Analytics

      Need for business analytics

      Careers in business analytics

      1

      Introduction to Analytics

      Information is considered the lifeblood of any business, irrespective of its size. For the growth and development of the businesses, analysis of data becomes essential. An organization that makes large investments must invest time in data analytics to make better business decisions. Today, analytics has become an indispensable component for businesses and organization to stay competitive and relevant. Business analytics and big data has become one of the main functional areas in most business organizations. Business analytics consists in the study, analysis, and interpretation of big data of organizations and businesses. It is an important component of management science. In today’s age of the Internet, e-commerce and social media existence have increased the complexity of the data relating to business. Business analytics uses statistical operations research and management tools to drive business performance. Traditional systems lacked data analysis capabilities because of limited business transactions and data required for decision-making. On the other hand, today, business transactions have created problems due to limited ability of the human mind to analyze the various possibilities of solutions and the limited time available for decision-making. The biggest obstacle to adopting analytics is the lack of knowledge as to how to use it to improve business performance.

      Analytics helps you understand how people use your

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