This document discusses analytics and its classifications and types. It defines analytics as a fact-based approach used for business planning that includes data validation, root cause analysis, and strategic prediction. Analytics in business is described as a continuous iterative process that investigates past performance to provide better insight for planning. The document outlines descriptive analytics methods like association analysis and clustering, as well as predictive analytics roles in generating theories, measures, and models. It also discusses the rapid growth of the analytics industry and its major domains like marketing, IT, and customer analytics. Finally, the document notes both views on the impact of analytics and differences between analytics and scientific approaches.

1. CLASSIFICATION OF
ANALYTICS
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2. WHAT IS ANALYTICS ?
• Fact based approach for planning future action in
an organisational setup.
• Includes data validation, root cause diagnosis,
strategic prediction.
ANALYTICS IN BUSINESS
• Continuous iterative process integrating skills,
technologies practices and application for
investigating past business performance to obtain a
better insight to drive business planning
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3. DIMENSIONS OF ANALYTICS
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D. Delen, H.M. Zolbanin ,Journal of Business Research 90 (2018) 186–195

4. EVOLUTION OF ANALYTICS
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D. Delen, H.M. Zolbanin ,Journal of Business Research 90 (2018) 186–195

5. UNSEEN SIDE
• Scepticism in the scope
• Ambiguity in the ability to integrate and interpret
the information
• Uncertainty in finding a significant pattern in the
data collected
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6. TYPES OF ANALYTICS
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D. Delen, H.M. Zolbanin ,Journal of Business Research 90 (2018) 186–195

7. DESCRIPTIVE METHODS
Association Analysis
Sequence Analysis
Clustering
Link Analysis
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8. PREDICTIVE ANALYTICS ROLES
Generating new theory
Developing new measures
Competitive theories
Improving existing models
Assessing relevance
Assessing predictability
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9. PREDICTIVE METHODS
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10. PREDCITIVE METHODS (contd..)
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11. RAPID GROWTH OF ANALYTICS
INDUSTRY
• Standalone business
• Data-as-service
• Volume, velocity, variety
• Advantageous position
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12. • Industry size: 10 billion to 26.9 billion(expected
growth 22.4 %)
• Advantage: Avoidance of subjectivity.
• Indian analytics service providers delivered $375
million ( total global data analytics outsourcing
market of $500 million) in 2012.
• Usage domains: BFSI, FMCG, retail, sales &
marketing and customer service.
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RAPID GROWTH OF ANALYTICS
INDUSTRY(contd..)

13. MAJOR DOMAINS
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SALES AND
MARKETING
IT AND WEB
ANALYTICS
MANAGEMENT
ANALYTICS
CUSTOMER
ANALYTICS
HR ANALYTICSSUPPLY CHAIN
ANALYTICS
Source: Arindam Banerjee, Tathagata Bandyopadhyay, and Prachi Acharya, Vikalpa: SAGE Journals,2014

14. ADOPTATION PROCESS
Skill sets required:
Concoction of data management skills,
statistical/data processing prowess, and business
acumen
Right mix has high demand
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15. FACILITATORS
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Arindam Banerjee, Tathagata Bandyopadhyay, and Prachi Acharya, Vikalpa: SAGE Journals,2014

16. USE OF ANALYTICS IN DECISION
MAKING
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Arindam Banerjee, Tathagata Bandyopadhyay, and Prachi Acharya, Vikalpa: SAGE Journals,2014

17. CULTURE: THE TOUGHEST
CHANGE
• Complex and dynamic.
• Adopted analytics to maintain a proper balance.
• (a) Managing information, (b) Processing the
information (c) Developing implications out of the
processing results.
• Outsourced operations is not in line with the
requirements on site.
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18. COUNTER VIEWS ON THE IMPACT
OF ANALYTICS
• New initiatives.
• ‘Black swan’ problems/risks.
• Kills creativity.
• ‘Snob’ value.
• Additional problems and increased frustration of
policy makers.
• Misuse.
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19. THE NEW KID ON THE BLOCK: BIG
DATA & ITS APPEAL
• The newest opportunity.
• It has potential to bring revolutionary changes.
• The challenge is to extract meaningful pattern or
correlations from unstructured data.
• It may have the advantage of predicting actual
performance better
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20. Precede theory or a
model
Even predict future
opportunities yet to
happen
Understand
phenomenon that
cannot be changed
New theories by
hypothesizing
Formulated on a theory
ANALYTICS SCIENTIFIC
Differences between
Vs.
Development of new
theories based on the
relationships and
patterns in the data
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21. DECISIONS BEYOND SCIENCE
“Correlation is not causation, no conclusions
should be drawn simply in the basis of
correlation “
“Analytics do not link unrelated concept”
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22. SOLUTION
• Devise narratives about possible futures
• Apply metaphor, logic, and emotion (Aristotle)
• Hypothesize what would have to be true for those
narratives to happen
• Validate their hypotheses
• By prototyping
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23. THANK YOU
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