Course Name-Data Analytics

Course Code- BBAMI-502

Lecture No- 1.1

Topic –Introduction to Data Analytics

Model Institute of Engineering & Technology

Course Outcomes

S. No. DESCRIPTION

1 Explain how data analytics projects are organized.

2 Perform initial data gathering and investigation using a spreadsheet.

3 Use Excel functions and formulas to transform data for analysis.

4 Obtain appropriate data for analysis.

5 Perform statistical analysis on data

6 Formulate a structured query to extract & combine data from multiple tables.

7 Formulate a structured query using SQL.

8 Create visualizations using Tableau.

9 Explain the ethical issues and biases that can affect data analytics.

10 Revisit your portfolio and learn about building your skillset.

Equipment Requirements

Recommended PC Hardware Requirements:

• Computer with either Windows (8.1, 10, 11), MacOS (10.14 or newer) or
Ubuntu 20.04 LTS operating system, amd64(x86-64) CPU, 4 GB of free
RAM, 10 GB of free disk space. (Not supported: macOS with a M1 CPU
and Chromebooks)
• High speed internet access
Learning Outcomes
⮚ Understand how data analytics brings value to organizations.

⮚ Learn about the most common analytics methods used today.

Module 1: Data Analytics Projects

 Today’s digital world generates an enormous

amount of data that can provide valuable
information to all types of organizations.
 Data analytics is the process of taking that
data and using it to answer questions, identify
trends, and extract insights that enable
organizations to make better decisions.
Upon completion of this module 1, you should be
able to:

Topic Title Topic Objective

Analytics in Real - time Explain the value of
data analytics
Data Analytics in Action Describe the phases in
the analytics process
The Project Portfolio Explain how to create
and share a project
portfolio
1.1 Analytics in Real-Time

1.1.1. The Value of Data Analytics:

 What is Analytics?

 Analytics = data-driven decision making.

 Uses data collection + interpretation + analysis to find patterns and

insights.
Analytics Everywhere:
 Analytics has become ubiquitous in recent years.

 Shift towards data-driven decision-making started long ago.

1.1 Analytics in Real-Time

 Historical Example:
 2002 – Oakland A’s Baseball Team

 GM used past season data analysis to pick undervalued players

and win a championship.
 Demonstrated practical business value of data analysis.
 Tracking coronavirus variants:

 Data analysis is vital for monitoring and managing pandemic

spread.
1.1 Analytics in Real-Time

 The Data Explosion:

 Growth fuelled by:
 Social media platforms: massive data generation.

 Internet of Things (IoT): physical objects collecting/transmitting

data.
 IoT examples: smartphone, fitness tracker, airplane jet engine
(can generate 1TB of data per flight).
1.1 Analytics in Real-Time

Data: The New Oil

• Analogy: Data is valuable like oil, but only after

transformation.
• Raw data ≈ crude oil; needs refining (analysis,
interpretation) for practical value.
• Data science professionals (esp. data analysts):

• Responsible for transforming raw data into

organizational insights by gathering, interpreting,
analyzing to find patterns.
1.1 Analytics in Real-Time

Global Importance & career importance:

 World Economic Forum (WEF) Statement:

 Data revolution = endless opportunities for solving 21st century

challenges.
 But we must improve our ability to analyze and contextualize

data.
 Data analysts are found in every sector: business,
healthcare, government, humanitarian work.
 Career progression:
 Data analysts can move into advanced areas:
artificial intelligence, machine learning,
automation, robotics.
1.1 Analytics in Real-Time

1.1.2. The Data Analytics Revolution:

Evolution of Data Analytics in Organizations
 Early analytics used by few organizations to gain insights into

customer and employee behavior.

 Previously, analytics focused primarily on descriptive analytics:

 Used historical, static data sets (e.g., past transactions, inventory,

defect reports).
 Data analysis often done monthly or quarterly, not in real time.

 Goal: Present accurate, easy-to-understand info for non-technical

decision makers.
 Examples of traditional insights: product performance,

profitability, inventory lead times, advertising program outcomes.

1.1 Analytics in Real-Time

1.1.2. The Data Analytics Revolution:

Shift Toward Next-Generation Analytics
• Descriptive analytics is still important, but no longer sufficient for

competitive advantage.
• Modern organizations require the ability to:

• React quickly to current data.

• Make reliable predictions about future behaviors (predictive

analytics).
• Enabled by advances in:

• Real-time data collection, storage, and retrieval.

• Use of diverse data sources: documents, images, social media,

1.1 Analytics in Real-Time

1.1.2. The Data Analytics Revolution:

Impact of Advanced Analytics: Due to the vast amount of data now being
collected, new insights can be gained from analyses to inform more effective
decision making. Examples of organizations using advanced analytics to improve
their operations include:
 A bank immediately analyzing each account transaction to identify potentially
fraudulent activity.
 A manufacturer constantly monitoring defect reports in order to modify production
processes as quickly as possible.
 A retailer instantly responding to customer reviews and adjusting products or sales
strategies accordingly.
1.1 Analytics in Real-Time

1.1.2. The Data Analytics Revolution:

Rather than relying on management instinct and past performance, organizations can
use real-time data to achieve rapid, transformative change in their operations and
processes. Data analysts and other data science professionals are at the forefront of this
revolution!
1.1 Analytics in Real-Time

1.1.3. Finding the Answers:

Why Data Analytics Matters
 In rapidly changing environments, predicting the next business

move is challenging.
 Data analytics provides the foundation for better decisions,

enabling organizations to answer crucial questions like:

 Who are our customers? How to best reach them?

 What is the state of our market and competitors?

 What historical events can inform future growth?

 What is happening right now?

 What will the future hold?

1.1 Analytics in Real-Time

1.1.3. Finding the Answers:

Four Main Types of Data Analytics:

Type Focus Typical Questions

Answered
"What were last
Descriptive Analytics What has happened?
quarter’s sales?"
"What will sales look
Predictive Analytics What could happen?
like next year?"
"What marketing
Prescriptive Analytics What should happen? strategy should we
use?"
"Why did sales drop
Diagnostic Analytics Why did it happen?
last month?"
1.1 Analytics in Real-Time

1.1.3. Finding the Answers:

Choosing the Right Type
• The best type of analytics depends on the specific business problem and the questions
being asked.
• Some types mainly support reactive decision-making (responding to events after they
happen).
• More sophisticated types, often integrated with machine learning, allow
for proactive decisions—anticipating trends and opportunities.
Advanced Analytics: Proactive Insights
• Combining analytics with future casting and machine learning:
• Helps uncover hidden patterns.
• Reveals otherwise unknown insights.
• Enables organizations to stay ahead by anticipating market changes and opportunities.
1.1 Analytics in Real-Time

1.1.4. Different types of analysis:

1. Descriptive Analytics
• Purpose: Identifies key characteristics in a data set using historical data.
• Focus: Summarizes and reports on past events. Generates ad hoc reports (e.g.,
"how much?", "how many?").
• Limitations: Doesn’t infer or predict—just provides a factual starting point for
decisions or further analysis.
 Process Steps:
 Ask a historical question (e.g., “How much of product X did we sell
last year?”)
 Identify required data.
 Collect and prepare data.
 Analyze data.

1.1 Analytics in Real-Time

1.1.4. Different types of analysis:

1. Descriptive Analytics
 Examples:
 Summarizing sales, inventory, or operational data from past
periods.
 Reporting engagement data (likes/dislikes, page views over
time).
 Tracking general trends (revenue growth, employee
injuries).
 Collating survey results.
1.1 Analytics in Real-Time

1.1.4. Different types of analysis:

2. Predictive Analytics
 Purpose: Uses real-time and/or past data to make probabilistic predictions about

future trends/events.
 Focus: Forecasting, inferring missing data, and simulating possible outcomes to

guide actions.
 Benefits: Helps set realistic goals, plan effectively, manage expectations, avoid

risks—enables proactive and fact-based strategies.

 Process Steps:

 Ask a forward-thinking question (e.g., “Can we predict next year’s sales for

product X?”)
 Collect and prepare data.

 Develop predictive models.

 Apply models to data.


1.1 Analytics in Real-Time

1.1.4. Different types of analysis:

2. Predictive Analytics
 Examples:
 Forecasting customer behavior and sales patterns.
 Predicting customer preferences; recommending products.
 Estimating likelihood of customer actions (purchase, churn).
 Detecting possible security breaches.
 Anticipating staffing/resource needs.
1.1 Analytics in Real-Time

1.1.4. Different types of analysis:

3. Prescriptive Analytics
 Purpose: Recommends optimal actions based on descriptive and
predictive analyses ("what should happen next").
 Focus: Decision support—suggests the best course of action for
maximum benefit.
 Examples:
 GPS map apps: analyzing traffic, routes, and conditions to

recommend the fastest or shortest path based on user goals.

1.1 Analytics in Real-Time

1.1.4. Different types of analysis:

4. Diagnostic Analytics
• Purpose: Goes deeper than descriptive analytics to determine
causes behind observed outcomes (explains “why”).
• Process Steps:
• Identify anomalies in data.

• Collect related data about anomalies.

• Use statistics to uncover relationships/trends explaining anomalies.

• Present possible causes.

• Examples:
• Analyzing subscription cancellations alongside customer feedback to
identify most common reasons.
1.1 Analytics in Real-Time

Practice Question:
a. “Monthly sales report”
b. “Why did sales drop last month?”
c. “Will next month’s sales increase?”
d. “What discount strategy should be applied?”
1.1 Analytics in Real-Time

Practice Question:

a. Descriptive

b. Diagnostic

c. Predictive

d. Prescriptive.
Thank You