Unit 2

Prof.Reeta Singh
 Contents
• Business Analytics Cycle Introduction
• Analytical Tools & Methods
• Integration Social Analytics
• Operation Analytics
• Big data Analytics
• Hadoop
• Informatics
• Cognos
• Business Application of big data Analytics

Prof.Reeta Singh
Business Analytics Cycle Introduction

Prof.Reeta Singh
 Step 1. Defining the business needs
• The first stage in the business analytics process involves understanding
what the business would like to improve on or the problem it wants solved.
Sometimes, the goal is broken down into smaller goals. Relevant data
needed to solve these business goals are decided upon by the business
stakeholders, business users with the domain knowledge and the business
analyst. At this stage, key questions such as, “what data is available‖,
―how can we use it‖, ―do we have sufficient data‖ must be answered.

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 Step 2. Explore the data
• This stage involves cleaning the data, making computations for missing data,
removing outliers, and transforming combinations of variables to form new
variables. Time series graphs are plotted as they are able to indicate any
patterns or outliers. The removal of outliers from the dataset is a very
important task as outliers often affect the accuracy of the model if they are
allowed to remain in the data set. As the saying goes: Garbage in, garbage
out (GIGO)!

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 Step 3. Analyse the data
• At this stage, using statistical analysis methods such as correlation analysis
and hypothesis testing, the analyst will find all factors that are related to the
target variable. The analyst will also perform simple regression analysis to see
whether simple predictions can be made. In addition, different groups are
compared using different assumptions and these are tested using hypothesis
testing. Often, it is at this stage that the data is cut, sliced and diced and
different comparisons are made while trying to derive actionable insights
from the data.

Prof.Reeta Singh
 Step 4. Predict what is likely to happen
• Business analytics is about being proactive in decision making. At this
stage, the analyst will model the data using predictive techniques that
include decision trees, neural networks and logistic regression. These
techniques will uncover insights and patterns that highlight relationships
and ‗hidden evidences‘ of the most influential variables. The analyst will
then compare the predictive values with the actual values and compute the
predictive errors. Usually, several predictive models are ran and the best
performing model selected based on model accuracy and outcomes.

Prof.Reeta Singh
 Step 5. Optimise (find the best
solution)
• At this stage the analyst will apply the predictive model
coefficients and outcomes to run ‗what-if‘ scenarios, using
targets set by managers to determine the best solution, with the
given constraints and limitations. The analyst will select the
optimal solution and model based on the lowest error,
management targets and his intuitive recognition of the model
coefficients that are most aligned to the organization's strategic
goal.

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Step 6. Make a decision and measure
the outcome
• The analyst will then make decisions and take action based on
the derived insights from the model and the organizational
goals. An appropriate period of time after this action has been
taken, the outcome of the action is then measured.

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 Step 7. Update the system with the
results of the decision
• Finally the results of the decision and action and the new
insights derived from the model are recorded and updated into
the database. Information such as, ‗was the decision and action
effective?‘, ‗how did the treatment group compare with the
control group?‘ and ‗what was the return on investment?‘ are
uploaded into the database. The result is an evolving database
that is continuously updated as soon as new insights and
knowledge are derived.

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Analytical Tools & Methods

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 Integration Social Analytics
1. Sprout Social
2. Awario
3. TapInfluence
4. BuzzSumo
5. Snaplytics
6. Curalate
7. Keyhole
8. Google Analytics
9. ShortStack
10. SHIELDApp

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 Sprout Social
• The need for cross-channel social media analytics makes Sprout Social an
easy choice for No. 1 on our list.
• Whether you want to dive deep into your performance on a single
network, or quickly compare results across multiple networks at once,
Sprout has you covered.
• Track Facebook Page impressions, tally up Twitter link clicks, measure
Instagram follower growth, evaluate LinkedIn engagement, asses content
performance on Pinterest and much more, all from the same location.
• Then quickly organize and share your data with easy-to-understand,
presentation-ready reports.

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Prof.Reeta Singh
 Awario
• As noted in our guide to social media listening, brands need
to be aware of the conversations their customers are having in
a timely manner.
• Tools such as Awario specialize in tracking brand mentions
and industry conversations across the web. From social
mentions to shout-outs throughout the blogosphere and review
sites, Awario lives up to its namesake by providing real-time
insights behind those mentions.

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Prof.Reeta Singh
Prof.Reeta Singh
 TapInfluence

The boom of influencer marketing has created a need for social media
tools specifically tailored for influencer campaigns.
Enter TapInfluence, an analytics platform which removes many of the
―what-ifs‖ related to influencer marketing. This includes metrics such as
reach, engagement rate and the potential price tag behind any given
influencer.
In short, TapInfluence highlights relevant influencer metrics in black and
white so brands can better understand whether or not a potential
relationship makes sense prior to outreach.

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Prof.Reeta Singh
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 BuzzSumo
Although not strictly a social tool, BuzzSumo is an awesome resource for analyzing
the social engagement of any given piece of content.
If you want to see how many shares your latest blog post received on Facebook,
Twitter or Pinterest, BuzzSumo can provide you with that data. You can also monitor
the performance of content competing for relevant industry keywords, allowing you
to see how your content marketing campaigns are stacking up against the competition.

Prof.Reeta Singh
Prof.Reeta Singh
 Snaplytics
• he popularity of ephemeral content on social media speaks for
itself.
• Snaplytics focuses solely on analytics for Snapchat and
Instagram Stories. The platform looks at metrics such as open
and completion rate, allowing brands to see where story
engagement peaks and likewise at what point viewers drop off.
•

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Prof.Reeta Singh
 Curalate

• More and more brands are trying their hands at direct social
selling.
• Platforms such as Curalate serve as a hybrid storefront and
analytics tool for companies looking to maximize their sales
from Instagram
• Chances are you‘ve seen a branded or unbranded ―Like2Buy‖
link in the wild. Major brands like Bose take advantage of
Curalate for social sales – take a peek at their Instagram bio.

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Prof.Reeta Singh
Prof.Reeta Singh
 Keyhole

• For the sake of expanding your content‘s reach, hashtag

analytics are a must-have.
• Tools such as Keyhole provide a real-time performance
analysis of the industry and campaign-specific hashtags on
Twitter and Instagram. Doing so allows brands to promote
during peak times and likewise understand which tags are
most popular among their followers.

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Prof.Reeta Singh
 Google Analytics

• While it‘s not solely a social media analytics tool, Google

Analytics is one of the best ways to track social media
campaigns and even help you measure social ROI.
• You likely already have an account set up on your website to
monitor and analyze your traffic right now. But did you know
you can access and create reports specifically for social media
tracking, too?

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Prof.Reeta Singh
 ShortStack
• Typically, running a social media contest requires a
surprising amount of legwork.
• From the process of picking a winner to analyzing
engagement from a giveaway campaign, ShortStack can
pick up the slack.
• For brands running frequent contests or giveaways, a
dedicated contest analytics tool ensures that you aren‘t
just giving away freebies for no reason. ShortStack looks
at everything from entry data to long-term campaign
performance to do just that.
•

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Prof.Reeta Singh
 SHIELD App
• As the source of 80% of B2B social leads, B2B brands are
paying more and more attention to LinkedIn. Meanwhile, the
increasing need for employee advocacy means that brands
should be tracking the LinkedIn presence of individual
salespeople in addition to their company page.
• Up-and-coming social media analytics tools like SHIELD are
helping bridge that gap. For example, SHIELD examines the
performance of individual employee profiles and their posts.
Content analytics including average likes, comments and
hashtags can help employees optimize their posts prior to
sharing to maximize their reach.

Prof.Reeta Singh
Prof.Reeta Singh
Prof.Reeta Singh
 Operation Analytics

• With business-focused technologies on the rise, it‘s becoming more

important for organizations to learn how to use their data wisely. It‘s a
given that one should protect and secure their data, but it‘s a completely
different story when you‘re analyzing information from your operational
processes and using it to benefit your business. Back when big data was
relatively new, businesses used to focus on customer experience but the
trend seems to be shifting towards company operational performance. But
what good does it do to a business? Let‘s go ahead and take a look at what
the benefits of operational analytics are.

Prof.Reeta Singh
 Benefits of Operational Analytics
• 1.Increased profits
• Most businesses today have the goal of reducing costs. With the help
of operational analytics, you can identify areas that need
streamlining, helping you to save more money, be more efficient,
thus resulting in better profits. A whitepaper by Capgemini found
that improvement in operations using data can help raise profits up
to $117 billion worldwide yearly. That‘s a steep increase compared
to customer analytics which only drives about $38 billion in profits.
The improvement in your bottom line means you are able to scale
your business, no matter what size it may be.

Prof.Reeta Singh
 Benefits of Operational Analytics
• 2. Better decision making
• Instead of relying on high-end consultancy firms to make big decisions for
your organization, why not let the data do all the talking for you? Most
companies would prefer to do it this way but if you‘re a smart
businessperson, you know that operational analytics is just as good of an
option, if not more cost-effective. Data comes through faster allowing you
to make the most important businesses decisions quickly. With your
business acting on problems quickly, your bottom line doesn‘t suffer from
inefficiencies.

Prof.Reeta Singh
 Benefits of Operational Analytics
• 3. Competitive advantage
• With the help of cognitive computing, companies are able to
understand what all their data means and carry out more efficient
processes. This gives you a better advantage among your
competitors. While they are focused on analyzing customer data,
you‘re here looking at operational data so you can save money and
reinvest it in more profitable pursuits.
• If you‘re not on it yet, now is the time do so otherwise you‘ll get left
behind. In one survey by Capgemini Consulting, they found that
70% companies have started focusing on operation processes instead
of consumer processes.

Prof.Reeta Singh
 Benefits of Operational Analytics
• 4. Customer satisfaction
Although the point above sounds completely counterintuitive,
operational analysis can actually help increase customer
satisfaction. Sometimes, it takes weeks or even months before an
organization can figure out exactly what is causing the drop in
customer satisfaction. There‘s simply too many factors to
consider. With operational analytics, you can get to the root cause
of a performance issue and fix it right away.

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 Benefits of Operational Analytics
• 5. Streamlining data
• Place all your security, business, and IT data all in one place where you can
manage it with efficiency and easily spot system problems in real-time. Not
to mention, you can easily create backup and recovery for all data to ensure
its safety despite natural disasters. And with the ability to share it with your
employees, you can gain relevant insights from them too. At this point, they
are not merely employees, but also stakeholders who are empowered to
help the company succeed.

Prof.Reeta Singh
 Benefits of Operational Analytics
• 6. Better employee engagement
• Having access to data insights encourages employees to be more engaged.
It promotes collaboration within the group, and this time, it‘s not just the
data that‘s doing the talking but the whole organization itself working
together for the success of the business.
• Since operational analytics is a relatively new concept in the business
world, its benefits may not always be felt immediately. This is caused by a
number of reasons such as siloed data sets, difficulties accessing third-party
data, and lack of strong mandate from organizations heads.

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Cognos

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 What is Cognos software?

IBM's Cognos BI ( Business intelligence) is a web-based

reporting and analytic tool. It helps you to perform data
aggregation and create user-friendly detailed reports.
Cognos also offers an option to export the report in XML or
PDF format. It allows you to view the reports in XML format.

Prof.Reeta Singh
 Advantages
• Lower costs—reduces maintenance due to complete report coverage and a zero-
footprint environment.
• Faster results—shortens reporting time due to seamless integration and adaptive
authoring.
• Improved decision making—reports and dashboards present data in easily-
understood formats.
• Adaptive authoring automatically adjusts report layout when objects are added, moved,
or removed.
• Ability to work with data using familiar business terms.
• Ability to use a variety of charts—crosstabs, bar or 3D bar, pie or doughnut, line,
gauge, funnel, scatter, dot density, waterfall, and so forth.
• Ability to create complex, multi-page layouts using different data sources.
• High performance data access across all sources.
• Complete connectivity regardless of environment.
• Open architecture that leverages XML, SOAP, and WSDL.
• Multiple export formats—Excel, Portable Document Format (PDF), Extensible
Markup Language (XML), Hypertext Markup Language (HTML), and Comma
Separated Value (CSV).
• Multilingual capabilities automatically deliver
Prof.Reeta reports in the users' working language.
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Prof.Reeta Singh