Best Business Analytics Course

by THIS ACCOUNT WAS HACKED BY @MRBAN01 on telegram BY @MRBAN01 on telegram

This is an introduction to Business Analytics Course my hope is that this gets yourfeet wet that you get excited aboutButler anymore so little about me beforewe get startedCody Baldwin I manage analytics and bigdata projects at HP so I source salesfinance and supply chain data for someof our executive dashboards that we useI have an MBA from Virginia Tech I'm aproject management professional as wellas a scrum master so although I do havea technical background I spend a lot ofmy time just managing these types ofprojects ok so we're going to talk aboutwhat is Business Analytics how it's donewho's using it and then we'll discuss afew challenges and tips that I picked upalong the way that be happy to sharewith youok so first Techstack Business Analytics so business analytics involves usingtools and techniques to turn data intomeaningful business insights so it'susing tools and techniques to turn datainto meaningful business insights sothat data could be from spreadsheetsfrom traditional databases it could alsobe from Twitter from Facebook and thenwe're using tools and techniques thetechniques might be statistical modelsor machine learning something and thenthe hope at the end of the day is thatwe get some business insights out of itnow if you look at this diagram it lookspretty straightforward right but I don'tthink this does a good job ofcommunicating the complexity of ofanalytics I sometimes it sort of feelslike this to me so we get some good datacoming in we also get a lot of messydata that we have to scrub to clean upto make useable and we also get a lot ofgarbage data along the way that justisn't really helpful at all and then wekind of have to fight with the databattle with it you know to get somethingout of it it just sometimes it becomes aspaghetti mess it feels like and thenbecause we have you know garbage data ormessy data coming in sometimes on theother end we do get some businesssites we also get a lot of noise thatcomes out you know and sometimes ifwe're not careful and that no laser thatgarbage that comes out could use to makedecisions it can be harmful right soit's this I think does a better job ofcommunicating some of the challengesthat that are faced with and when onanalytics projects okay so now let'stalk about the types of analyticsthere's descriptive analytics whichdeals with what happened right so we'relooking at historical information tomaybe piece a puzzle together an examplemight be we're looking at data from theprevious quarter our sales data forexample and maybe comparing that data tothe same quarter on the previous year sowe're trying to figure out what happenedand then there's predictive analytics sothat's trying to figure out what mighthappen so we might use statisticalmodels to do that and then there'sprescriptive analytics so that's actthat actually involves telling us whatwe should do so when to get there wemight even use some of the descriptiveanalytics or the predictive analytics tothen get to a prescription right wemight recommend decisions based on someoptimization models that we put togetheror some simulations that sort of thingin my opinion I think there's all ofthese are important they have theirplace but as we go down this list itgets more value-added I think the besttype of analytics are prescriptiveanalytics in my opinion okay just wantto talk for a second about somebuzzwords so you've probably heard somethings similar to business analyticsbusiness intelligence decision sciencedata science I don't want you worry toomuch about it they all really supportthe same goal and there's true there maybe some slight differences but they allare trying to get to the same end rightit involves using tools and techniquesto turn data into business insightsright all of those help us get to thatend Stateokay so now we want to talk a little bitabout the process right how we doanalytics what's the method what are themethods that we use so similar to thescientific method we always start with abusiness problem we're trying to solvesome of the problems might be how do weoptimize pricing what's the optimalprice allow us to boost our revenue orhow might we segment our customers totailor product offers to that there's ahigher likelihood that they'll buysomething or problem might be solvingbottlenecks or failure points in oursupply chain so we first want to figureout what problem we're trying to solvethe next thing we'll want to do is toplan the work so we do some research onthe problem we maybe estimate the effortthat's required to do the analytics onit and then we'll build a business caseto get support from our leadership orwhoever's asking us to do thisI know sometimes in the excitement ofdoing the analytics we can sometimes seeif this step but I think it's importantnot to neglect it it certainly doesn'thave to take a long time to do this alot of this can be done in a couplehours but I think it's still importantthat you don't make any commitments todo something until you've kind offigured out first if it's even possibleand then how much effort and money isgoing to be required to do that so someof the things that we might want to askabout the data that we're needing isfirst is it available can we even get tothe data and if we can what's thequality of the data if it's garbage andwe're not going to be able to clean itup and that's going to be a problem andif it's messy we still got to spend timeto scrub it so that's something that weneed to be aware of another thing wemight not want to ask is it granularenough so if we're looking for salesdata at the you know city level forexample if we can only get into statelevel or the country level that could bea problem so those are some of thethings that we want to think aboutbefore we get started right I thinkit'll save you a lot of pain later ifyougone through this type of research inthis level of planning now once we'vedone that we want to put a business casetogether this doesn't have to becomplicated at all can be can be verysimple but what we're trying to do is tocommunicate to our leadership our assesto do the analytics how much it's goingto cost and based on the costs what arethe benefits that we're going to get outof it and I like to couch these in termsof good better and best options youcertainly can make a recommendationwhich one might be most appropriate orwhat's the best use of money but it'salways nice to give people a coupledifferent options you know I just thinkit it adds a little bit of value andthen obviously once we've shared thiswith our leadership we don't want tomove forward until we have their strongsupport right we don't want to make anyinvestments until we get there they'rebuying their approval okay so now oncewe've identified the problem planned outhow we can solve it and gotten you knowdid some analysis or estimated. Readmore...