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Assignment 04

Fundamentals of Business Analytics - Course Packet 4

Topic: Business Analytics (BA)

NAME: Abordo, Julianne Arielle M. SECTION: OM-3B INTENDED FOR WEEK 7-8

Note: Refer to your Google classroom for the copy of Instructional Materials – Course

Packet 04 and readings applicable to this topic.

1. Give an example how Descriptive, Diagnostic, Predictive and Prescriptive is applied

in real life scenario.

Examples of descriptive analytics

Decision-makers in a company's finance, operations, and other departments can all benefit

from descriptive analytics.

 The sales staff can discover which customer groups contributed the most money to sales

last year.

 The marketing team can determine which social media sites generated the highest return

on advertising expenditures during the previous quarter.

 The financial staff can monitor revenue growth or drop from month to month and from

year to year.

 Operations can monitor SKU demand across geographic areas over the previous year.

Examples of diagnostic analytics

Additionally, any team in an organization can profit from diagnostic analytics.

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 The sales staff can pinpoint the behaviors and traits that profitable customer segments

have in common, which may help to explain why they are spending more.
Assignment

 To determine the causes of performance disparities, the marketing team might compare

the distinctive qualities of highly effective social media advertising to less effective ones.

 The timing of important efforts can be compared to monthly and yearly revenue growth

or decline to help identify links.

 Operations can examine local weather trends to determine whether they influence

demand for specific SKUs across geographical regions.

Examples of predictive analytics

Teams benefit greatly from predictive analytics because it gives decision-makers more

assurance about the future.

 The sales staff can discover a certain customer segment's prospective revenue.

 The marketing department can forecast how much money a forthcoming campaign is

likely to bring in.

 For the upcoming fiscal year, the finance staff may make estimates that are more precise.

 The operations staff is better able to anticipate regional demand for various items at

particular times in the forthcoming year.

Examples of prescriptive analytics

Prescriptive analytics has a wide range of applications, despite the fact that the volume of

data required prevents it from being practical for everyday use.

 How the sales team can make each of its target verticals' sales processes better.

 assisting the marketing team in choosing the product to highlight the following quarter.

 the best ways for the financial staff to manage risk.

 Contribute to the operations team's efforts to optimize storage.

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LM01-BABA

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Assignment