NAME: SHIBABRATA MAITI.

ROLL NO: OTP23A62.

SECTION: A.
ASSIGNMENT NO: 1.
SUBMITED TO: Dr Abhijeet Lele.
 BUSINESS ANALYTICS

Introduction: Business Analytics is the process of using statistical methods, skills,

technologies, and practices to analyse historical data and gain new insight to improve strategic
decision-making. Business analytics is an essential tool for organizations of all sizes and
sectors, since it enables them to understand trends, patterns, and customer behaviour. In today's
data-driven world, business analytics has become an essential tool for businesses to stay
competitive and gain a competitive advantage.

There are mainly four types of Business Analytics.

• Descriptive Analytics.
• Diagnostic Analytics.
• Predictive Analytics.
• Prescriptive Analytics.

Descriptive analytics uses historical data to understand past trends and events, whereas
diagnostic analytics analyses past data to determine the reasons behind the events. Predictive
analytics involves using past data to predict future events, and prescriptive analytics uses past
data to identify the best course of action to achieve a specific outcome.

In the World, many organizations are increasingly adopting business analytics to improve their
decision-making and drive better business outcomes.

Three use cases of Business Analytics are:

1. Customer Analytics: Customer analytics is the process of analysing customer data to

gain insights into their behaviour, preferences, and needs. By using customer analytics,
businesses can better understand their customers and develop strategies to improve
customer engagement, loyalty, and satisfaction.
Example: Flipkart, one of India’s largest e-commerce companies, uses business
analytics to analyse customer behaviour and preferences to improve their sales
performance. Flipkart uses data analysis tools to analyse customer purchase history,
preferences, and browsing behaviour to personalize their marketing campaigns and
 improve customer engagement. Flipkart also uses customer analytics to optimize its
pricing strategy and offers customized discounts to customers based on their buying
patterns.

2. Financial Analysis: Business analytics can help businesses analyse financial data to
gain insights into their financial performance, identify areas for cost savings, and
improve profitability. Financial analysis can also help businesses identify trends and
patterns in their financial data, such as cash flow patterns, and make more informed
decisions about investments and financial planning.
Example: Hindustan Unilever Limited (HUL) uses data analytics to analyse financial
data, such as revenue and cost trends, to identify areas for improvement. By analysing
data related to sales trends, HUL is able to identify which products are selling well and
which are not, allowing them to make more informed decisions about pricing and
inventory management.
3. Marketing Analytics: Marketing analytics involves the use of data to optimize
marketing efforts. It helps businesses to analyse customer data and make informed
decisions about marketing campaigns. For example, a company can use marketing
analytics to analyse customer purchase history, demographic data, and online
behaviour to create targeted marketing campaigns. By using marketing analytics,
businesses can better understand customer behaviour and preferences, and optimize
marketing efforts to increase revenue. Example: One of today’s most popular streaming
platforms, Netflix, is a brilliant example of Marketing Analytics. The company is
collecting data and using data analytics to track customer behaviour, such as what users
are watching, how long they watch, and when they watch. This data is used to
personalize content recommendations for individual users

SOURCES:

• https://www.livemint.com/Companies/RX5eOy12n5JFJu617G5GnM/Amazon-Flipkart-
dataanalytics-ecommerce.html
• https://Hul.co.in/
• https://www.google.com/amp/s/m.economictimes.com/industry/consproducts/fmcg/ho
w-hul-is-using-tech-and-data-to-drive-all-aspects-of-its-operationsfrom-production-to-
distribution/amp_articleshow/95629069.cms
• https://netflixtechblog.com/
• https://bornfight.com/blogs/
• https://datamation.com/