Business Analytics

Presented by Premnath Dalai

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  Descriptive – What has happened?
 Diagnostic - Why did it happen?

Introduction  Predictive – What could happen?

 Prescriptive – What should happen?

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  Simplest Class of Analytics
Descriptive  Break big chunk of data into smaller pieces (subsets)

Analytics  Sub-setting out relevant information

 Brief synopsis of what has happened

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  Dig deeper why did it happen
 Exploratory Data Analysis
Diagnostic  An advancement of descriptive analytics
Analytics

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  Uses statistical and data mining technique
 Study the past trend based on available attributes
 Allow data analyst and data scientist to make prediction

Predictive  An example from marketing analytics (product campaign)

> Who responds to the campaign
Analytics > Which channel they responded through
> What product they responded for
> Potential value and prospect of each customer
> Product buying propensity or likelihood of the customer

 What could happen based on past trends

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  Predictive + Descriptive Analytics
 Prescribe prediction based on past description
 Descriptive helps find what, why has happened
Prescriptive  Predictive helps find what could happen
Analytics  So, prescriptive helps optimized the decision making based on the
best available solution for what should happen amongst various
choice given a business constraint

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  Customer Analytics
 Industry-focused Analytics
Example/Area  Financial Analytics
Of Analytics  Performance Analytics
 Risk Analytics

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  Helps the organization to take critical decision and deliver offers
that are anticipated
 Offers the organization the customer insights to take necessary
decision
 Helps develop fact based solution to design marketing strategy
Customer  E.g. Customer acquisition, retention, x- sell, up sell etc.
Analytics  Uses techniques like market segmentation, visualization,
predictive analytics and data modeling
 Predicts customers’ behavior or buying propensity
 Telecom, banks, product, ecommerce and retail industry uses this
analytics

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  Helps financial experts explore different ways to answer specific
financial requirements
 Drive the executives to forecast financial related business
Financial  Uses different financial functions to solve the necessary query
Analytics  E.g. consolidation of financial statements to showcase detailed
financial position of the institution to the market, shareholders,
stakeholders (creditors), government and general public

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  Uses data driven technology to study business performance
 Helps explore how to continue better and better (improvement
performance)
 Like managing daily operation, scoping strategies, budgeting
Performance business, SLA, analyzing areas of improvement
 E.g. HR management monitors the performance of the employees
Analytics on regular basis based on the parameters of organization style and
expectation etc.
 Helps take corrective action well in advance, if required, to
improve the productivity in the organization

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  Things or factors change in dynamic pace in the dynamic business
environment which causes high risk
 These risks affect the success of the business
 Risk analytics analyze risk associated with the different business,
product or portfolio etc.

Risk Analytics  Tries to reduce the risk in foreseen uncertainties and helps
evaluate or project the success of failure chances
 Organization define and understand the risk for that particular
business in terms of risk limits and risk appetite. Risk analytics
helps manage and mitigate the different risk component of the
organization.
 E.g. credit risk, market risk and op risk etc.

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