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Analytics

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INTRODUCTION TO
BUSINESS ANALYTICS
Sumeet Gupta
Associate Professor
Indian Institute of Management Raipur

Outline
• Business Analytics and its Applications
• Analytics using Data Mining Techniques
• Working with R

BUSINESS ANALYTICS
AND ITS APPLICATIONS

What is Business Analytics?
Analytics is the use of: data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about their business operations and make better, fact-based decisions.

Evolution of Business Analytics?
• Operations research
• Management science
• Business intelligence
• Decision support systems
• Personal computer software

Application Areas of Business Analytics
• Management of customer relationships
• Financial and marketing activities
• Supply chain management
• Human resource planning
• Pricing decisions
• Sport team game strategies

Why Business Analytics?
• There is a strong relationship of BA with:
• profitability of businesses
• revenue of businesses
• shareholder return
• BA enhances understanding of data
• BA is vital for businesses to remain competitive
• BA enables creation of informative reports

Global Warming

Poll Winner

Sales Revenue

Predicting Customer Churn

Credit Card Fraud

Loan Default Prediction

Managing Employee Retention

Market Segmentation

Medical Imaging

Analyzing Tweets stylus cbssport debut

h2pro pro mac applewatch applepay unlock

newipad

partnership rumor market

releas

add

usa mophi includ

howto pay control

appplemac

tech

might

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juic

firm

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