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Business Analytics –

Tools & Techniques

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Business Analytics

• Business analytics combine different strategies and tools toimprove the performance of an enterprise. These form partof the management system and embody the particularapproaches which the company adopts.

•Business analysts must be well-versed with techniques inbusiness analysis which can be used in addressing currentproblems.

• There are numerous methods in quantitative analysis. Yet,there are primary strategies which are recognized as

valuable for most business owners.

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Business Users & their Challenges

•  The time to perform the overall cycle of collecting, analyzing,and acting on enterprise data must be reduced

• Clear business goals & metrics must be defined

• Analysis results must be distributed to a wider audience

• Data must be integrated from multiple sources

• Acceptance criteria of the analytics models must be clearlystated

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 TECHNIQUES

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PESTLE• Political (present and future political influences)• Economic (impact of local, national and global

economy)

• Sociological (various ways society can affect anyorganization)

•  Technological (effect of new and emergingtechnologies)

• Legal (effect of national and world legislation)

• Environmental (issues on local, national and worldenvironment

Business Analytics

 The PESTLE technique is an external analysis designed toscrutinize the various external elements affecting a business andits operations. It includes six attributes:

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CATWOE• Customers (benefits derived from high-level business process and

corresponding effects)• Actors (individuals involved in the situation and solutions for

success)•

 Transformation Process (processes or systems are affected by theissue)• World View (big picture and broader impacts of the issue)• Owner (process or situation being investigated and roles in the

solutions)• Environmental Constraints (limitations that will impact the solution

and its success)

Business AnalyticsCATWOE is a technique used to encourage critical thinkingabout what the business is trying to achieve. There are sixdifferent elements included in this technique:

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Business AnalyticsA SWOT analysis provides a complete overview of both internal andexternal factors affecting a business. There are four attributes to SWOT:

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Business Analytics

• Five Whys:

 – This technique is used to get to the rootof what is really happening in a singleinstance. For each answer given afurther why is asked.

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Application of Business Analytics

• Business analytics comprises a great manytechniques that deal with statistics. The mostcommonly used of these are product tracking

systems and surveys. When these techniquesare applied accurately, they open upnumerous avenues of opportunity fororganizations to optimize and augment their

business model. A few such possibilities areexplored in the following slides:

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Spectrum of Analytics Applications

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Spectrum of Analytics Applications

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Application Of Business Analytics

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Application Of Business Analytics

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Application Of Business Analytics

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Business Analytics Tools

• SAS

• R

•

Excel• STATISTICA

• Weka

• MATLAB

• Salford Systems

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 Tools: SAS

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 Tools: R

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 Tools: Excel

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Key Challenges Of BusinessAnalytics

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Challenges

• Strategic Alignment: Most organizations today alreadyhave some element of business analytics in place,often in the BI/data warehousing area. Unfortunatelyanalytics are often viewed by top executives as

esoteric research at best, and irrelevant fringeexperiments at worst. The issue surrounds not a lack of appreciation for the usefulness of information but alack of alignment, availability, and trust.

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Challenges

• Agility: Typically in the organizations, the analysts are organizedby business domains. Findings working with top-tier,information-driven companies demonstrate that domain-basedorganizations are not the most effective approach for analytics.Analysts often work independently and create models in ad-hoc

environments based on a patchwork of extracts and sources. The results, while advanced and valid, are not easilycommunicated to the business users for whom they wouldprovide the greatest value.

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