BUSINESS ANALYTICS

Dr. Ramaraju Poosapati

July 2024
DISCLAIMER

INDIVIDUAL
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The presenter does not The presenter does not

claim any of the represent any
content discussed or organization in which he
presented is his own. is working or worked in
The references are the past. The views
used for Educational expressed are personal
purpose only views.

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AGENDA
01 BUSINESS ANALYTICS - INTRO

02 EVOLUTION

03 SCOPE, DATA and MODELS

04 PROBLEM SOLVING PROCESS

05 EXCEL FUNCTIONS

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SYLLABUS

Foundations of Business Analytics:

Evolution of Business Analytics,
Scope, data and models for Business Analytics, problem solving with Business Analytics, Analytics on
spreadsheets, Excel functions for Database queries, Add-ons for Business Analytics. Descriptive Analytics:
Data visualization, creating charts in MS Excel, Data Queries, Tables, sorting and filtering, Data
summarization with statistics, Data exploration using Pivot tables

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EVOLUTION OF BUSINESS ANALYTICS
Business Analytics is an iterative, methodical exploration of an organization's data, with an emphasis on statistical
analysis, to drive decision-making.

Business analytics begins with the collection, organization, and manipulation of data

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EVOLUTION OF BUSINESS ANALYTICS

A Visual Perspective of Business Analytics

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SCOPE OF BUSINESS ANALYTICS

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QUESTIONS TO RECAP

1. What is the main focus of data analytics? 3. How does data analytics typically begin in an
a) Data storage organization?
b) Statistical analysis of data to drive decision-making a) By encrypting data
c) Data encryption b) By collecting, organizing, and manipulating data
d) Data entry c) By designing data collection forms
d) By deleting old data
2. Which process is integral to business analytics?
a) Data visualization 4. Which characteristic best describes data analytics?
b) Data mining a) Iterative and methodical exploration of data
c) Collection, organization, and manipulation of data b) Sporadic and random examination of data
d) Data printing c) Archival and storage-focused
d) Focused only on data collection

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QUESTIONS TO RECAP

5. Order the below from oldest to newest 7. In the evolution of data analytics, what stage focuses
a) Decision Support Systems (DSS) on deriving insights from large, complex datasets using
b) Business Intelligence (BI) advanced tools and techniques?
c) Enterprise Information Systems (EIS) a) Decision Support Systems (DSS)
d) Analytics b) Enterprise Information Systems (EIS)
c) Business Intelligence (BI)
6. What followed Decision Support Systems (DSS) in d) Big Data
the evolution of data analytics?
a) Enterprise Information Systems (EIS) 8. What does the term "iterative" imply in the context of
b) Business Intelligence (BI) data analytics?
c) Data Warehousing a) Performing analysis only once
d) Big Data Analytics b) Repeatedly analyzing data to refine insights
c) Avoiding repeated analysis
d) Randomly selecting data for analysis

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DATA (CLASSIFICATION)

Ratio Data

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MODELS:

A model is an abstraction or representation of a real system, idea, or object. Models capture the most important
features of a problem and present them in a form that is easy to interpret.

Decision Model:
A decision model is a logical or mathematical representation of a problem or business situation that can be used to understand, analyze,
or facilitate making a decision. Most decision models have three types of input:

1. Data, which are assumed to be constant for purposes of the model. Some examples would be costs, machine capacities, and
intercity distances.
2. Uncontrollable variables, which are quantities that can change but cannot be directly controlled by the decision maker. Some
examples would be customer demand, inflation rates, and investment returns. Often, these variables are uncertain.
3. Decision variables, which are controllable and can be selected at the discretion of the decision maker. Some examples would be
production quantities (see Example 1.5), staffing levels, and investment allocations.

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EXAMPLE :

Graphical Illustration of
Break-Even Analysis

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QUESTIONS TO RECAP

1. Which of the following is a continuous data? 4. Which data type can be ordered or ranked but does
A) Number of errors per invoice not have a fixed unit of measurement?
B) Proportion of on-time deliveries A) Ratio data
C) Time taken to fill a customer’s order B) Categorical data
D) Number of incomplete orders each day C) Interval data
D) Ordinal data
2. A metric that involves counting something is called a:
A) Continuous metric 5. What type of data involves a natural zero and allows
B) Variable metric meaningful ratios?
C) Discrete metric A) Interval data
D) Fixed metric B) Categorical data
C) Ratio data
D) Ordinal data
3. Which type of data is sorted into categories according
to specified characteristics? 6. Which data type is most appropriate for comparing
A) Ordinal data the relative performance of two teams?
B) Categorical data A) Categorical data
C) Interval data B) Interval data
D) Ratio data C) Ratio data
D) Ordinal data

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PROBLEM SOLVING WITH ANALYTICS

STEPS INVOLED IN 6.
Implementing
PROBLEM SOLVING 5. the solution
Interpreting
4. Analysing results and
the problem making a
3. Structuring decision
the problem
2. Defining
the problem
1.
Recognizing a
problem

• Identify the existence of a • Clearly identify and • State goals and objectives. • Involves experimentation • Consider other factors • Translate model results
problem. articulate the real problem. • Characterize possible or solution processes. beyond analytical solutions into real-world action.
• Problems are identified by • Distinguish between the decisions. • Evaluate scenarios, analyze (e.g., location choice • Consider the impact on all
gaps between actual and problem and its symptoms. • Identify constraints or risks, find solutions. considerations like access, stakeholders (customers,
expected outcomes. restrictions. • Develop and refine labor supply). suppliers, employees).
approaches for different
types of problems.

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QUESTIONS TO RECAP
1. What is the fundamental purpose of analytics in 4. Which step involves stating goals and identifying
business? constraints?
a) To Enhance employee skills a) Recognizing a problem
b) To solve problems and make decisions b) Defining the problem
c) To increase social media presence c) Structuring the problem
d) To write annual reports d) Analyzing the problem

2. Which of the following is the first phase of the 5. In the context of problem-solving, what does
problem-solving process? analysing the problem involve?
a) Defining the problem a) Writing a report
b) Structuring the problem b) Evaluating different scenarios and finding
c) Recognizing a problem solutions
d) Analyzing the problem c) Collecting customer feedback
d) Hosting team meetings
3. What is the main goal of defining the problem in the
problem-solving process? 6. Which phase of the problem-solving process involves
a) Finding the symptoms of the problem translating model results back to the real world?
b) Clarifying the real problem
c) Designing a new product a) Defining the problem
d) Developing new software b) Interpreting results
c) Implementing the solution
d) Analyzing the problem
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NEXT STEPS -

Analytics on spreadsheets, Excel functions, - To be practiced.

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 THANK YOU
Disclaimer: Views expressed are personal and I don’t represent the company that I’m
working or the ones that I worked in the past.

Dr. Ramaraju Poosapati

https://www.linkedin.com/in/rampoosapati