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Mba BI

Business Analytics (BA) utilizes data analysis and predictive modeling to enhance business decision-making and performance. It differs from Data Analytics by focusing on solving business problems and supporting strategic decisions. Key types of analytics include descriptive, inferential, predictive, and prescriptive, with various tools like spreadsheets, R, Python, SQL, and BI tools aiding the process.

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Kajal Singh
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24 views4 pages

Mba BI

Business Analytics (BA) utilizes data analysis and predictive modeling to enhance business decision-making and performance. It differs from Data Analytics by focusing on solving business problems and supporting strategic decisions. Key types of analytics include descriptive, inferential, predictive, and prescriptive, with various tools like spreadsheets, R, Python, SQL, and BI tools aiding the process.

Uploaded by

Kajal Singh
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Introduction to Business Analytics

MBA-AM Semester II
Unit- 1

What is Business Analytics?

Business Analytics (BA) is the practice of using data


analysis, statistical methods, and predictive modeling to
make informed business decisions. It involves examining
historical data to identify trends, patterns, and insights that
help optimize business processes and outcomes.

• Goal: Drive data-driven decision-making for better


business performance.
• Key Components: Data collection, data processing,
statistical analysis, and actionable insights.

Business Analytics vs Data Analytics

Aspect Business Analytics Data Analytics


Focus Solving business problems and Analyzing raw data for insights,
improving performance. patterns, and trends.
Goal Support strategic and operational Understand data itself and derive
decisions. useful conclusions.
Outcome Business growth, efficiency, and Data models, forecasts, and statistical
competitive advantage. findings.
Example Analyzing sales data to optimize Analyzing customer behavior for
pricing strategies. segmentation.
Types of Analytics

1. Descriptive Analytics:
a. Summarizes historical data to identify what has
happened.
b. Example: Sales reports showing revenue trends.
2. Inferential Analytics:
a. Uses statistical methods to make inferences about
a population from a sample.
b. Example: Using customer survey data to
understand broader market preferences.
3. Predictive Analytics:
a. Uses historical data and machine learning to
forecast future outcomes.
b. Example: Predicting future sales based on past
trends.
4. Prescriptive Analytics:
a. Recommends actions based on data analysis to
achieve desired outcomes.
b. Example: Suggesting the best marketing strategy
to maximize RO
Tools for Business Analytics

1. Spreadsheets (Excel, Google Sheets):


a. Basic data analysis, pivot tables, visualization.
b. Widely accessible and easy to use.
2. R Programming:
a. Statistical computing and visualization.
b. Powerful for advanced analytics and machine
learning.
3. Python (Pandas, NumPy, Matplotlib):
a. Versatile for both data analysis and automation.
4. SQL:
a. Querying and managing databases.
b. Essential for handling large datasets.
5. BI Tools (Tableau, Power BI):
a. Interactive dashboards and visual analytics.
6. Google Analytics:
a. Web analytics for tracking online user behavior.

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