Data Analysis Nirvana: Excel 2013 Business Intelligence Features
Business analysis and business intelligence
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Transcript of Business analysis and business intelligence
Business Analytics And
Business Intelligence
Business Analytics
• It is the Combination
– Skills
– Technologies
– Applications and
– Processes
– Used by Organizations
– On Data and Statistics
Objective
• It is about using Data and Models
– To Make Better Decisions
– To Improve Policy Making
– To Develop Strategy
– To Improve Performance of Organisation
Importance
• It Ensures High Chances of Success
• It Permits Managers to ensure that Precise
Information is Circulated and Understood by
Everyone
• It Ensures that the Decisions that are Beneficial for
the Business
1.Define the Business
Need 2.Explore the Data
3.Analyze the Data
4.Predict What is likely
to Happen
5.Find the best
solution
6.Make a Decision
7.Update the system with
Result of Decision
7-Steps of Business Analytics
Process
Business intelligence
• It is a Process used by Companies
– To Gather Information from various Business
Fields
– To Transform it later into Knowledge that can be
used to Understand Needs or to Make Decisions
Objective
• Better Decision-Making
• Improve Operational Efficiency
• Growth in Revenue
• Increase Competitive Advantage
• Enhance Customer Service
Importance
• Boost Productivity
• Access to Better Information
• Competent Decision Making
• Results Closer to Established Goal
• Better Return on Investment
Tools Used in Business Intelligence
• Spreadsheets
– Program for Organization for Analysis and Storage of Data in Tabular Form
• Reporting and Querying Software:
– Tools that Extract, Sort, Summarize, and Present Selected Data e.g. Oracle
Reports, Oracle Discoverer
• OLAP: Online Analytical Processing
– An Approach to Answering Multi-Dimensional Analytical (MDA) Queries Swiftly
– It Compresses of Relational Database, Report Writing and Data Mining
Continue...
• Digital Dashboards
– An Easy to Read a Graphical Presentation of the Current Status
• Data Mining
– The Computational Process of Discovering Patterns in Large Data Sets
• Data Warehousing
– A System used for Reporting and Data Analysis
• Local Information Systems
– A Form of Information System to Support Geographic Reporting
Predictive Modeling
• It is a process used in Business Analytics
– To Create a Statistical Model of Future Behavior
• It is the area of Data Mining concerned with
– Forecasting Probabilities and
– Trends
Objective
• To Ascertain
– The Likelihood a Prospect will Buy
– The Chance a Prospect will Respond to an Ad
– The Ideal Profile of a Customer
– When a Customer is Likely to Churn
7 Steps in Predictive Modeling
1. Defining the Objective2. Gathering the Data3. Preparing the Data for Modeling4. Selecting and Transforming the Variables5. Processing and Evaluating the Model6. Validating the Model7. Implementing and Maintaining the Model
Presented By:-Tushar Rathi 158