Introduction to

Business Data
Statistics
Group 2
Ahmad solihin
Virrel Alif Daffa

Dr. Ir. Syahrial Shaddiq, [Link]., M.M. universitas lambung mangkurat

Importance of Data-Driven Decision
Making
Informed Decisions Competitive Improved Efficiency
Advantage
Data analysis provides Data-driven insights can help
Companies that effectively
insights that enable businesses optimize their
leverage data analytics can
businesses to make more operations, reduce costs, and
gain a competitive edge by
informed and strategic enhance overall efficiency.
identifying and capitalizing on
decisions, leading to better
market trends and
outcomes.
opportunities.
Common Data Sources for Business
Analysis

1 Sales and Revenue 2 Operations and Logistics

Data Data
Tracking sales, revenue, and customer Data on inventory, supply chain, and
purchasing patterns can provide valuable production processes can help identify
insights into market trends and customer areas for improvement and optimization.
behavior.

3 Customer Engagement 4 External Market Data

Data Incorporating data from industry reports,
Analyzing customer interactions, feedback,
economic indicators, and competitor
and satisfaction can inform strategies for
analysis can provide a broader context for
improving customer experience and
decision-making.
retention.
Key Metrics and KPIs for Business
Performance
Revenue and Profitability Customer Acquisition and Retention
Measures such as sales, revenue, and profit Metrics like customer acquisition cost,
margins are essential for tracking overall customer lifetime value, and churn rate
financial health and growth. provide insights into the effectiveness of
marketing and customer service efforts.

Operational Digital Engagement

Efficiency
Key performance indicators (KPIs) like Metrics such as website traffic, conversion
inventory turnover, productivity, and cost per rates, and social media engagement can
unit can help identify areas for process inform digital marketing strategies.
improvements.
Techniques for Data Visualization and
Reporting

Charts and Dashboards Infographics Reports

Graphs Create interactive Combine data, Generate detailed
Visualize data trends dashboards to present visuals, and text to reports that provide in-
and patterns using key metrics and KPIs convey complex depth analysis and
charts, graphs, and in a clear, user- information in a insights to support
plots. friendly format. visually compelling data-driven decision-
way. making.
Challenges in Data Collection and
Management
Data Quality
Ensuring the accuracy, completeness, and consistency of data is crucial for
reliable analysis and decision-making.

Data Integration
Integrating data from multiple sources can be a complex and time-consuming
process, requiring robust data management strategies.

Data Security and

Privacy
Protecting sensitive business and customer data is essential to mitigate risks
and comply with regulations.
Leveraging Data Analytics for Strategic
Planning
Identifying Opportunities 1
Analyze data to uncover new market
opportunities, potential growth areas,
and areas for operational 2 Forecasting and Trend
improvements. Analysis
Use data-driven forecasting and trend
analysis to anticipate market changes
and make informed strategic decisions.
Optimizing Resource 3
Allocation
Data insights can help businesses
allocate resources more effectively,
enhancing overall operational efficiency
and profitability.
Ethical Considerations in Business Data
Usage

1 Data Privacy 2 Fairness and Non- 3 Transparency and

Ensure the protection of Discrimination Accountability
customer and employee Avoid biases and Communicate openly
data in compliance with discrimination in data- about data-driven
relevant regulations and driven decision-making processes and be
ethical standards. to promote equitable accountable for the
practices. impact of data-based
decisions.
Conclusion and Future
Trends
Increased Adoption
The demand for data-driven decision-making will continue to grow, leading to
greater adoption of business analytics tools and practices.

Advances in AI and
ML
Emerging technologies like artificial intelligence and machine learning will
enhance the capabilities of data analytics, enabling more sophisticated
insights and predictions.

Focus on Data
Governance
Businesses will need to prioritize effective data governance, ensuring the
security, quality, and ethical use of data.
Thank You