Business Analytics

- to develop new knowledge and insight to increase a company’s total business

intelligence .
- used to answer questions about what happen in the past make prediction and
forecast business results.
Business Intelligence
- manages and uses both raw inputs data and also the resulting knowledge and
actionable insights generated by business analytics

Descriptive Analytics
- describes the data it contain
Ex. Pie chart that breaks down the demographic of a company’s customers.

Diagnostic analytics
- help pinpoint the root cause of an event.
Ex. Manufacture can analyze a failed component on a assembly line and determinethe
reason behind it’s failure.
Predictive analytics
- mines existing data, identifies patterns and helps companies predict what might
happen in the future based on the data.
Ex. An organization could make predictions about the change in coat sales if the
upcoming winter season is projected to have warmer temperatures.

Prescriptive analytics
- help organizations make decision about the future based on existing information
andresources.
Ex. Marketing and sales organization can analyze the lead success rates of the
recentcontent to determine what types of contents they should prioritize in the
failure .

Data management
- Data management is the practice of ingesting, processing, securing and storing
an organization’s data. It is then used for strategic decision-making to
improve business outcomes.

Data mining or KDD

-Data mining, also known as knowledge discovery in data (KDD), is the process
of uncovering patterns and other valuable information from large data sets and is
a significant component of big data analytics.

Data warehousing
- A data warehouse, or enterprise data warehouse (EDW), is a system that
aggregates data from different sources, including apps, Internet of Things (IoT)
devices, social media and spreadsheets into a single, central, consistent data store to
support data analysis, data mining, artificial intelligence (AI) and machine learning
(ML).
Data visualization
- The representation of data by using graphics such as charts, plots, infographics and
even animations. These visual displays of information communicate complex data
relationships and data-driven insights in a way that is easier to understand, being
especially helpful for nontechnical staff to understand analytics concepts, and helping
show patterns in multiple data points.

Forecasting
-This tool takes historical data and current market conditions and then
makes predictions as to how much revenue an organization can expect to bring in
over the next few months or years.

Machine learning algorithms

- A machine learning algorithm is a set of rules or processes used by an AI system to
conduct tasks, most often to discover new data insights and patterns, or to predict
output values from a given set of input variables.

Reporting
-Business analytics runs on the fuel of data to help organizations make
informed decisions.

Statistical analysis
- Statistical analysis enables an organization to extract actionable insights from its
data. Advanced statistical analysis procedures help ensure high accuracy and quality
decision-making. The analytics lifecycle includes data preparation and management to
analysis and reporting.

Times new roman

- Identifies textual patterns and trends within unstructured data by using machine
learning, statistics and linguistics. By transforming the data into a more structured
format through text mining and text analysis, more quantitative insights can be found.

Data scientists
- These people are responsible for managing the algorithms and models that power
the business analytics programs.

Data Engineers
- They create and maintain information systems that collect data from different places
that are cleaned and sorted, and placed into a master database.

Data Analysts
- They play a pivotal role in communicating insights to external and
internal stakeholders.