Bu s i n e s s
An a l y ti c s
B. Com. Hons
Semester-6
UPC:
U n i t- 1 :
I ntro d u c ti o n
1) Meani ng and scope of data anal ytics
2) Cl assi fi cation of data analyti cs
3) Appli cation of data analytics i n business
4) Bi g data and its characteri sti cs
5) Appli cation of bi g data
6) Chall enges in business data analytics
U n i t- 1 :
I ntro d u c ti o n
1) Meani ng and scope of data anal ytics
2) Cl assi fi cation of data analyti cs
3) Appli cation of data analytics i n business
4) Bi g data and its characteri sti cs
5) Appli cation of bi g data
6) Chall enges in business data analytics
U n i t- 1 :
I ntro d u c ti o n
1) Meani ng and scope of data anal ytics
2) Cl assi fi cation of data analyti cs
3) Appli cation of data analytics i n business
4) Bi g data and its characteri sti cs
5) Appli cation of bi g data
6) Chall enges in business data analytics
Meaning and scope of big data
• Data and data types
• Data analytics and data science
• Data analytics vs data analysis vs
business intelligence
• Scope of data analytics
Data and data types
• The raw and unprocessed pieces of
information
• Numbers, symbols, images, visual
observations, audio, AV,
• Yet to be organized
• Lacks a context to derive a meaning and do
analysis
• Distinctive from information that is
structured, organized, and presented in a
meaningful manner
Data types
primitive Non-primitive
Numeric Array
Integer String
Character List
Boolean Dictionary
Illustrative case of data types
• Numeric- numbers including decimals (354, -0.345, 10.76)
• Integer- whole numbers; values may be positive, negative or zero (34,879,0, -456)
• Character- single character like letter/ alphabet, number, symbol (‘x’, ‘#’, ‘89’,’@’)
• Boolean- logical values (True or False)
• Array- a collection of data items of same type; can be retrieved and modified using an
index (“[1,2,3]”, “[a,b,c]”, “[‘Ram’, ‘Mohan’, ‘Shyam’]”
• String- an ordered collection or sequence of characters such as letters, symbols, numeric
values and even blank spaces (“Alpha#123”)
• List- an ordered group of data items of different data types (“[name, address, phone
number]”)
• Dictionary (or Map)- as associative data structure that stores collection of key-value pairs,
each key is linked to a single value (“get(firstname)=Anupreet;get(lastname)=Kaur”)
Data categories/ types
• Nominal- name based; no order or sequence; all unique
and no sequence; example- gender, names of months and
days, flavours of cold drinks, sports player, movie genre
• Ordinal- order based; ranked or rated; interval between
ranks is not of same magnitude or quantified; example-
highly satisfied, satisfied, neutral, dissatisfied, high
dissatisfied
• Interval- does not have a true zero indicative of a complete
absence of value; zero is arbitrary; a temperature of 0
degree does not mean absence of heat, zero year being a
starting point does not mean absence of time.
• Ratio- data having a true zero indicating absence of value;
age, weight, BP, speed
Big data
• Big Data refers to datasets that are too large, complex, or
dynamic to be managed using traditional data-processing
techniques.
Importance:
• Drives decision-making through insights
• Powers innovations in AI, IoT, and machine learning
• Enables enhanced customer experiences
Characteristics of Big Data (The 5 V's)
Volume: Massive amounts of data generated every second.
Velocity: Speed at which data is generated and processed.
Variety: Different types of data (structured- data bases,
semi-structured- XML, JSON, unstructured- email, video,
audio)- example text files, images in jpeg, videos in mp4
etc .
Veracity: Uncertainty/trustworthiness, accuracy,
consistency and quality; all establishing reliability of data.
Three important dimensions- GIGO (Garbage In Garbage
Out), different sources with different qualities,
incomplete data and skewed results
Value: The potential insights and benefits derived from
data.
Sources of big data
Categories:
• Social Media Platforms
• Internet of Things (IoT) Devices
• Business Transactions
• Sensors and Machines
• Government and Public Records
Applications and Benefits of big data
Key Sectors of application: Key benefits :
- Healthcare: Predictive Improved decision making
diagnostics Enhanced customer experience
- Retail: Personalized Increased operational efficiency
marketing Boosted innovation
- Finance: Fraud detection Better risk management
• Weather prediction systems and supply
- Manufacturing: Predictive chain dashboards.
• Doctors analyzing patient data on digital
maintenance devices.
• Fraud detection systems highlighting
- Transportation: Route suspicious transactions.
optimization • Heatmaps showing customer movement
in a store.
https://www.youtube.com/watch?v=55u7ckDOlGM • Traffic management systems and self-
driving cars.
Challenges in big data
1. Data Storage and Management: Handling large-scale
data storage.
2. Data Integration: Combining data from multiple
sources.
3. Processing Speed: Analyzing real-time data efficiently.
4. Data Quality: Ensuring accuracy and completeness.
5. Privacy and Security: Protecting sensitive information.
6. Skill Gap: Lack of trained professionals.
7. Data locating
8. Technology adoption
9. Data governance
10. Budget for data analytics
11. Confusion or anxiety over automation
Solutions to challenges
Technologies:
- Distributed storage systems (e.g., Hadoop,
Apache Spark)
- Cloud computing
- Advanced analytics and AI algorithms
Strategies:
- Data governance frameworks
- Regular training and skill development
- Implementing robust cybersecurity measures
Data, data analysis, data analytics, Business data analytics, business intelligence
• Data- raw facts, figures, and statistics that have been collected and stored for
analysis
• Data analysis- answering WHAT and WHY of a problem; examining data to get
insights, understanding the existing patterns to draw inferences, and making
logical decisions.
• Data analytics- forward looking phenomenon to use advanced techniques like
machine learning, predictive modelling, and optimization to identify patterns
and trends to make future predictions.
• Business data analytics- application of data analytics for solutions and
forecasting of business- related fields like manufacturing, marketing, supply
chain management etc.
• Business intelligence- Business intelligence reveals what has happened and BDA
divulges why it has happened and when it may occur again.
Data analysis and Data analytics
Data analysis Data analytics
• A detailed examination of the elements or structure • A systematic computational analysis of data or
of data or information statistics
• Wider in scope • Narrow in scope
• Analysis consists of analytics • Analytics is a subset of analysis
• Steps- data gathering, validation, interpretation,
• Steps- Identify the problem, find the data,
analysis, results
data filtering, data validation, cleaning,
• Use of Excel, Tableau, Power BI, Google Fusion
visualization, analysis, inference, prediction
tables, Node XL
• Provides insight from the past to understand what • Use of R, Python, SAS, Google Analytics, Excel
happened so far • Explores the data from the past to make
• Example- past or historical prices of shares to appropriate decision for the future
understand current market situations for investment • Predicting the future prices of shares using
decisions statistical tools based on current market
Data analysis- past
(what and why) Data situations
analytics- Future
(extracting insights,
predicting and
prescribing)
Application of analytics- Key sectors
• Customer behaviour- Spending habits, Spending patterns, Product type, quality,
brands, quantity purchased, Identification of segments, Consumer profiles for
segmentation; helps in Personalised offers, Relevant advertising on social media,
Targeted sales promotion offers, Revenue management strategies
• Marketing and advertising- purchase history, preferences, personalized messages
• Banking and financial services – monitoring credit card holders spending patterns,
timing of use of cards, detecting frauds by flagging atypical movements through
scrutinizing vital metrices, observing usage of websites, incentivizing financial
products, CRM, clear view of KPI (Key performance Indicators)
• Energy sectors- consumption pattern of energy usage and fixing per floor electrical
consumption, timing of usage, discriminatory pricing to charge less during off peak
timings
• Media and entertainment – recommending programs for audience, TRP reflecting
audience choices, timing for advertisements
• Transportation sector- GPS applications to provide real time navigation and traffic
control and management, improving fuel efficiency, identify accident prone areas,
need of flyovers, devising smart traffic control system by identifying congest free
routes by cab aggregators
• HRM- improving talent acquisition, turnover management and staff retention,
measuring KPIs, identifying skill gaps and upskill opportunities
• Education sector- personalizing curricula, predicting results and drop outs,
improving lecture delivery, tailoring pedagogy, improving learning outcomes
• Secure air traffic system- sensors capturing data on climate conditions, flight
speed, moisture and temperature and other environmental status, need of repair
and maintenance of infra structure and machines and schedule of the same
• Auto driving cars designing and operation- sensing obstacles, distance from the
nearest objects, road conditions
• Virtual personal assistant tool- Siri in Apple devices, Cortana in Window, Google
Assistant in Android …collect data about user location, interest, consumption
habits, TV and social media usage, external surroundings for temperature,
humidity, and climatic conditions, road traffic real time data etc.
• Internet of things (IoT)- interconnected network of devices that can
communicate and exchange data. IoT sensors in manufacturing collect data
from machines to sense and predict failures and schedule maintenance to
reduce downtime and cost of disruption. In healthcare such devices monitor
patient health parameters and help in early detection of potential health issues
and timely intervention.
• Meteorology- provide weather forecast, impact of global warming and forecast
its impact, pattern of disaster and its management, early warnings of hurricanes
and Tsunamis, predicting presence of oil and water etc
• Healthcare sector- maintaining electronic health records and use of IoT across
health care sector along with insurance companies, prediction of epidemics and
real time alert, enhanced imaging and diagnostic services
• Cyber security- mitigating risks of cyber attacks, alert against terrorist activities
• Government / governance- usage by RBI and banks for abnormal transactions,
social security measures, use of Aadhar in rendering social security schemes
Types of analytics
• Descriptive- what has happened
• Diagnostic- why has happened
• Predictive- what will happen
• Prescriptive- what should be done
Descriptive analytics
Taare zameen par
Movie: 3 Idiots (2009)
•Scene: Rancho demonstrates the importance of understanding concepts over memorization in
a classroom setting.
•Search Terms: "3 Idiots Rancho classroom scene"
https://youtu.be/mPdf4tNPT6s?si=qAOw2fMzMjDQ0JfA
PK- description
https://www.youtube.com/shorts/
Swades CTCXwSyXWhg?feature=share
Movie: Swades (2004)
•Scene: Mohan (Shah Rukh Khan) gathers data about the
village’s electricity needs and describes the situation to the
villagers.
•Search Terms: "Swades electricity problem scene"
https://youtu.be/7xkG8SZ_MXs?si=ShsdfiP4AUl_qjle
Descriptive analytics
Use of descriptive statistics and
visualization
Summarizing and interpreting historical
data to gain insights and understand
patterns, trends, and relationships within
the data
• Summarizing past data
• Checking social media engagement data
• Reporting general trends
• Collating survey results
Conducting descriptive analytics for
drawing benefits:
• Tracking performance overtime
• Identifying areas for improvement
• Benchmarking against industry
standards
Diagnostic analytics
Dyslexia - Taare Zameen Par
Tare Zameen par
YouTube · Amri Rosdi
https://www.youtube.com/watch?v=XjFJ_fu_J3A 4.9L+ views · 7 years ago
In this video
•01:11
•"Animal"...on the same page, three different spellings.
•01:35
•When you read 'A-P-P-L-E, your mind creates the image of an apple.
•02:31
•This difficulty in reading and writing is called dyslexia.
•02:56
•Does Ishaan have a problem buttoning his shirt or tying his shoelaces?
3:18
A brief explanation by Aamir Khan about dyslexia. The definition, symptoms,
causes, and how to treat. Hopefully it'll benefit you!
4 key moments in this video
Missing: AV | Show results with
A Wednesday
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Diagnostic Analytics
Uncovering the root causes of trends and
A type of data analytics that patterns
uses past data to uncover • Data mining
• Data drilling down
factors and variables that • Statistical analysis
contributed to the outcomes of • Regression analysis
particular events. • Correlation and covariance analysis
Conducting diagnostic analytics- key steps
• Identify an anomaly or area for
improvement
• Collect relevant data
• Clean and prepare the data
• Explore the data
• Formulation of hypothesis
• Testing of hypothesis
• Draw inferences
• Take appropriate action
Research by Gallup shows that nearly 80% of employees worldwide are unengaged, indicating
that they may lack a sense of connection, motivation, or enthusiasm for their work. This lack
of engagement can have negative implications for productivity, job satisfaction, and overall
organizational performance.
Instead of turning a blind eye to these scenarios, HR leaders can apply diagnostic analytics to
understand which department has the highest attrition rate and decipher the reason behind
this attrition. Using these insights, you can create strategies to address employee concerns
and foster a positive work culture.
Predictive analytics
Movie: Chak De! India (2007)
•Scene: The coach predicts the outcomes of matches based
on the team's preparation and strategies.
•Search Terms: "Chak De India match strategy scene"
Movie: PK (2014)
•Scene: PK (Aamir Khan) analyzes human behavior to predict
their reactions to his actions.
•Search Terms: "PK analyzing human behavior scene"
Predictive analytics
A type of advanced data analytics that
uses historical data, statistical algorithms,
and machine learning (ML) to predict
future outcomes with high precision
Techniques of predictive analysis:
• Regression analysis
• Decision trees- probability by Bayes
theorem
• Neural networks- image recognition,
fraud detection, natural language processing
• Time series analysis
• Survival analysis- time to death for a
cancer patient, time to a customer churn, time
to a machine failure
Benefits of predictive analysis
• Identify future trends and opportunities in real time
• Reduce risk by early warning sign and improved assessment
• Improve operational efficiencies by forecasting accurate demand and streamlining
processes
• Making data driven decisions in business functions like marketing and sales, finance
and risk management, operations and supply chain management, logistics and
delivery
• Improved decision making
• Increased efficiency
• Opportunity identification with least risk
• Resource allocation and optimization
Prescriptive analytics
Prescriptive Analytics
•Movie: Swades (2004)
• Scene: Mohan implements a solution to generate
electricity for the village using a hydroelectric turbine.
• Search Terms: "Swades electricity generation scene"
•Movie: Chak De! India (2007)
• Scene: The coach prescribes specific training regimens and
game plans for the team to win the championship.
• Search Terms: "Chak De India training montage"
The Great Hack (A Netflix movie)
The Great Hack. Explore how a data company named
Cambridge Analytica came to symbolize the dark side of social
media in the wake of the 2016 U.S. presidential election.
