Business analytics is a data-driven field focused on deriving actionable insights to improve decision-making within organizations. It encompasses four main types: anticipatory, predictive, descriptive, and prescriptive analytics, each serving distinct purposes from understanding past outcomes to guiding future actions. The practice enhances customer experience, decision-making, and operational efficiency while facing challenges like misconceptions of its scope and changing business needs.

1. Business Analytics
Presented by
Sagnik Banerjee

2. CONTENTS
:
What is Business Analytics?
Types
Importance
Where we can use BA?
Benefits
Challenges
Tools

3. What is
Business
Analytics?
BUSINESS ANALYTICS IS A FIELD THAT DRIVES PRACTICAL,
DATA-DRIVEN CHANGES IN A BUSINESS. IT IS A PRACTICAL
APPLICATION OF STATISTICAL ANALYSIS THATFOCUSES ON
PROVIDING ACTIONABLE RECOMMENDATIONS.
ANALYSTS IN THIS FIELD FOCUS ON HOW TO APPLY THE
INSIGHTS THEY DERIVE FROM DATA. THEIR GOAL IS TO
DRAW CONCRETE CONCLUSIONS ABOUT A BUSINESS BY
ANSWERING SPECIFIC QUESTIONS ABOUT WHY THINGS
HAPPENED, WHAT WILL HAPPEN AND WHAT SHOULD BE
DONE.

4. Types of BA
four categories:
Anticipatory analytics:
Predictive analytics:
Descriptive analytics:
Prescriptive analytics

5. Anticipatory
analytics:
 Building on the foundation of predictive
analytics, anticipatorycan identify
and adjust predictions based on
inflectionpoints such as the acceleration
and deceleration ofcertain
business behaviors or sudden change in
business direction. Anticipatory analytics
helps to anticipate the future needs of a
business before they show obvious signs
in their respective opportunity/riskprofile.

6. Predictive
analytics:
 Algorithms use real-worlddata to help
businesses understand the most
probable outcome of a given action.

7. Descriptive
analytics:
 Computingpower utilizescurrent
performance metricsto analyze why
a specific outcomeoccurred.

8. Prescriptive analytics:
 Analytics applications simulate how variables
may affect outcomes, providing guidance on
the best course of action.

9. Importance
Enhance Customer Experience
Make Informed Decisions
Reduce Employee Turnover
Improve Efficiency
Identify Frauds
Improved Advertising
Tackle Problems
Better Product Management

10. Where we can use BA ?
 Business analytics has also come to play a pivotal role in the
manufacturing sector. It can use the data to offer meaningful
insights into inventory management,supply chain management,
the performance of targets, and risk mitigation plans. Also, BA
tools can help companies scale up the efficiency of their
operations.
 Business analytics is the process of using quantitative methodsto
derive meaning from data in order to make informed business
decisions.

11. Benefits
 Analytics helps you measurehow much of your mission statement is
accomplished
 Analytics Encourages SmartDecision-Making
 Analytics Provides Clearer Insights Through DataVisualization
 Analytics Keep You Updated
 Analytics Offer Efficiency

12. Challenges:
 Misconception of BA's scopeof work.
 There are differences between Business Analyst's actual functions
and tasks they really should perform.
 Created specifications do not satisfy the needs of
the development team.
 Changing requirements or businessneeds.
 Conflicts with stakeholders.
 Undocumented processes.

13. Tools we need to use to become a
buisness analyst / data analyst :
 Power BI
 Google docs
 Microsoft Advanced Excel
 Microsoft SQL
 Python
 Tableau
 MACHINE LEARNING
 AI

14. Business analytics is all about decision-making—not the way it was
done in the past, which relied heavily on experience, gut feeling, and
intuition, but the one that relies on data/evidence and
computational/mathematical/statistical sciences.

15. END
 THANK YOU