Business Analytics Approach to Data​

Table of Content

  • Data Collection
  • Data Cleaning
  • Data Analysis
  • Data Visualization
  • Business Analytics use cases
  • Business Analytics role
  • Business Analytics benefits

Data Collection​

Organizations must Identify all of the data they have on hand and what external data they want to incorporate to understand what opportunities for business analytics they have​.

Data Cleaning​

Why organization’s data may need cleaning​

    • Incorrect data fields​
    • Outdated data values​
    • Missing data​
    • Data Silos​

Data Analysis​

Data Scientists can analyze data more effectively using machine learning (ML), Algorithms, artificial intelligence (AI) and other technologies​

Data Visualization​

  • Data visualization serves several purposes for organizations, helping non- technical people understand analytics concept, helping others see patterns in multiple data points or demonstrating a business’s growth or decline.​
  • They can help with Idea generation, idea illustration or visual discovery​.

Business Analytics Use Cases​

  • Financial and Operational Planning: Business analytics helps organizations to align financial planning and operations seamlessly​
  • Planning Analytics: It is an integrated business planning approach that use to make effective business decision​
  • Integrated sales and marketing planning:​
  • Integrated workforce performance planning​

Business analytics roles​

  • Data Scientist: These employees are usually responsible for managing the algorithms and models that power the company’s business analytics program
  • Data Engineers: They create and maintain information systems that collect data from different places that are cleaned and sorted and placed into master data base
  • Data Analyst:  They are involved in collecting and analyzing the data set and building the data visualization.

Business Analytics [Benefits​

  • More Informed Decision: Having a flexible and expansive view of all the data an organization sits on can eliminate uncertainty and prompt an organization to act quicker​
  • Single pane view of information: Increase collaboration between departments and line-of-business users because everyone has same data and is talking from the same playbook​
  • Enhanced Customer Service: By knowing what customers want and when and how they want it, organizations will drive happier customer and therefor engender greater loyalty ​

Thank You

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