This document discusses the application of statistics in business analytics. It explains that business analytics uses methods like data mining, predictive analysis, and statistical analysis to analyze data and make smarter, data-driven decisions. Some key applications of statistics in business analytics are data mining, marketing, and retail management. Data mining involves converting raw data into useful information through techniques like classification, clustering, and regression analysis. Statistics are used in marketing to identify trends, target markets accurately, and evaluate marketing programs. In retail management, statistics help identify customer buying behaviors and patterns to provide targeted ads. Overall, statistics plays an important role in business analytics by enabling faster growth, higher profitability, and better decision making.

1. Application of statistics
in Business Analytics
SSR College of Arts, Commerce & Science
Presented by: Paresh Kareliya

2. “Statistics is extensively used to
enhance Business performance
through Analytics.
~Dilip kumar P. | Business Analytics
2

3. What is Business Analytics?
Business analytics refers to the use of methods such as data
mining, predictive analysis and statistical analysis in order to analyze
and transform data into useful information, identify and anticipate
trends and outcomes, and ultimately make smarter, data-driven
business decisions.
3

4. Application of statistics in
Business Analytics
◉ Data mining
◉ Marketing
◉ Retail Management
4

5. Data mining is a process of converting the raw data into useful data,
which can be used for analysis, prediction and ultimately make smarter,
data-driven business decisions.
5
Data Mining

6. Data mining
TABLE
Data Mining
base
Raw Data Data
Transformation
Classification,
Clustering &
Regression
Data Visualization
& interpretation
of results

7. Data mining
• CLASSIFICATION ANALYSIS
• CLUSTERING ANALYSIS
• REGRESSION ANALYSIS

8. Data mining
TABLE
Data Mining
base
Raw Data Data
Transformation
Classification,
Clustering &
Regression
Data Visualization
& interpretation
of results

9. Data mining
Interpretation of
results

10. Marketing
Statistics are applied in marketing to:
◉ Identify market trends
◉ Identify the target market accurately
◉ Measure and evaluate the potential and success
of marketing programs
10

11. 11
Marketing
Decision / Reasons:
◉ Forecasting the need of a
product or service.
◉ Customer profiling market
research
Tools used:
◉ Time series
◉ Correlation and regression
◉ Cluster Analysis
◉ Co-joint Scaling
◉ Multidimensional scaling

12. Retail Management
Statistics in Retail Management is used to:
◉ Identifying customers buying behaviors and to patterns.
◉ Entail customers.
◉ Provide specific ads based on his recent activities.
12

13. Conclusion
Statistics plays an Important role in Business analytics towards:
◉ Making smarter, data-driven business decisions
◉ Faster growth
◉ Higher profitability and many more.
13

14. Thankyou for Your
Patience.
14
Guided by: Mrs. Varsha Rajput
& Ms. Mamta Solanki