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03 Banerjee and Banerjee Business Analytics Ch03
03 Banerjee and Banerjee Business Analytics Ch03
Contents
Opening example:
• Sanjana Pillai and Rudra Dixit had to plan their wedding.
• Month and date for the wedding depended on many things such as
o When could both Sanjana and Rudra get time off from work.
o Vacation time for parents, siblings, relatives and cousins for participating in
their wedding.
o Most suitable weather conditions.
o Availability of hotels.
o Price variations of resources during the year.
o Venue for wedding.
o They also had to plan on the menu items, dress and jewellery, shopping list,
beautician, car bookings, flight bookings, destination for honeymoon, sangeet
(music) during the wedding.
• How does a business analyst view this situation?
Understand Different Sources of Data
There are mainly two sources of data: secondary data and primary data.
• Secondary sources include prior research done, trade journals, magazines, electronic
content, organization data, reports, census, store panel data and such others.
• Primary data are collected using qualitative methods like focus group interviews and/or
depth interviews or quantitative data collection methods like observations methods or
survey questionnaire administered in person, by e-mail, by the Internet and/or by
telephone.
• Secondary data collected supports significant part of the exploratory research.
Exploratory research is conducted to identify the specific components of a business
discussion that can be taken forward for research in the form of problem-solving or
opportunity.
• Descriptive and causal research can be supported by both secondary and primary data.
Descriptive research provides a systematic description of the facts that exist for a
situation under study. Causal research looks for relationships that exist within the
variables under study to form a cause and effect relationship.
Understand Different Types of Data
Understand Different Types of Data
1 51 Room 1 25,000 28
2 52 Room 1 20,000 24
3 53 Room 1 160,00 36
4 54 Room 2 60,000 24
5 55 Room 2 56,000 28
6 56 Room 2 58,000 26
7 57 Room 3 90,000 18
8 58 Room 3 98,000 22
9 59 Room 3 105,000 35
10 60 Room 3 120,000 29
Frequency of Equipment Repair
Equipment_no.
Frequency Cumulative Frequency Proportion
51 1 1 0.06666667
52 3 4 0.2
54 3 7 0.2
55 3 10 0.2
56 1 11 0.06666667
57 2 13 0.13333333
58 2 15 0.13333333
Frequency Representation of Equipment Repair
Room-Wise Equipment Repair
Untapped Data Sources