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the table formatting and conditional formatting in analytics
- 1. Business Analytics MODULE 1:INTRODUCTION
- 3. What is BusinessAnalytics? Business? Analytics?
- 6. Time to think Who is more likely to know which data will most directly address business questions, a data scientist or a business analyst? If ITU, wants to determine the most effective ways to market the BSMT program, what would the business analyst explain to the data scientist regarding the ideal data sources to consult and potential analysis to perform?
- 7. Why do weneed Business Analytics?
- 8. Hershey Loses Accessto Reliable Data to Fulfill Halloween Orders
- 9. Walmart Uses RelevantData to Identify Trending Products
- 10. Time to think How does increasing the amount of data available to address business questions both help and hinder the business analyst’s role? Why are business analysts uniquely positioned to address an organization’s business questions?
- 11. “ ” Data are widelyavailable; what is scarce is the ability to extract wisdom from them. HAL VARIAN (UC BERKELEY AND CHIEF ECONOMIST, GOOGLE) Data & Information
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- 14. Time to think How could a set of tweets about the quality of a new-model Toyota Yaris turn into knowledge capable of affecting decisions at Toyota? How might Amazon use the product ratings data on an Apple Watch Series 7 to turn data into knowledge? What kind of decisions might this new knowledge help Amazon’s managers make?
- 15. Business Analytics acrossthe functions Function Type Example Marketing Analytics Marketing analytics uses business analytics to measure and improve marketing performance. Amazon uses marketing analytics to determine which products to offer, which products to promote/advertise, and which price to charge its customers. Financial Analytics Financial analytics uses business analytics to help a company measure, evaluate, and improve its financial performance. American Airlines uses financial analytics to determine whether it should lease or buy its airplanes, and whether to finance its business with debt or some other means of financing.
- 16. Business Analytics acrossthe functions Function Type Example People Analytics People analytics uses business analytics to measure and improve employees’ performance. Google developed a mathematical algorithm to proactively and successfully predict which employees are most likely to become a retention problem. Operations Analytics Operations analytics uses business analytics to measure and improve the efficiency and effectiveness of the company’s operations. Wayfair, an e-commerce company selling furniture and home goods, uses operations analytics to ensure it has sourced the right furniture products from manufacturers to the Wayfair warehouse, ready for sale and shipping to the final customer.
- 17. Time to think Which business function would use analytics to suggest the most efficient way to source a car air freshener from Shenzhen, China to a convenience store on Burki Road, Lahore? Which business function would use analytics to suggest the most efficient way to evaluate whether WAPDA should invest in more efficient power plants or a new distribution network?
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- 21. SOAR Model 1. Specifythe question: Ask a business question that is answerable with data. 2. Obtain the data: Gather applicable data and understand the qualities of those data to assess if they can help to answer the business question. 3. Analyze the data: Analyze the data through data manipulation and statistical techniques. 4. Report the results: Communicate the findings to the decision-maker and other interested parties in an effective way.
- 22. Illustration: Predicting InventoryNeeds Imagine that Lucky Kia Motors Pakistan, is trying to predict the quantity of Kia Sportage SUVs to have available for sale to customers for the following year.
- 23. 1. Specify thequestion. How many Kia Sportage units should we have in inventory for sale to our customers in Pakistan next year?
- 24. 2. Obtain thedata. Gather relevant data: What is our closing inventory? How many Kia Sportage units were sold in Pakistan last year? How many SUVs similar to the Kia Sportage were sold nationwide last year? In what year did the last model come out? In what year will the next model come out? How well is the economy performing overall?
- 25. 3. Analyze thedata. Use data visualizations (including graphs and trend charts) to summarize past sales and evaluate sales trends. Use data-driven forecasting to predict Kia Sportage units sales in Pakistan. Predict how sales of the Kia Sportage units in Pakistan might change under different assumptions, considering best-case, worst-case, and most likely case scenarios. Compare sales projections to industry forecasts.
- 26. 4. Report theresults. Determine whether a written report, a visualization (such as a chart or graph), or some combination of text and visuals is the best way to communicate the findings. Report the results of the best-case scenario, the worst-case scenario, and the most likely case scenario. Evaluate your work: Did the analytics address the question posed? Do decision-makers have what they need to make a decision now? Is additional analysis needed?
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- 30. Data Visualization A datavisualization is a graphic representation of data, often in the form of a graph, chart, or other image. Exploratory data visualizations can reveal patterns in the data, which can lead to greater insight. Explanatory data visualizations are very useful for communicating the findings of the business analysis to stakeholders.
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- 33. Column chart tocompare values
- 34. Pie chart tovisualize composition of values
- 35. Histogram to showthe distribution of values (number of days to process orders)
- 36. Line graph toshow trend (total Google ad revenue over time)
- 37. Scatterplot to showrelationship between values (advertising expense and sales revenue)
- 38. Time to think In which step of the SOAR model are exploratory visualizations typically created? Which step uses explanatory visualizations? If a company would like to track actual daily sales as compared to its sales targets, should it use a dynamic report or a static report? Explain.