SampleSchool of Business

Recorded Lecture - I
Course Name: Introduction to Buisness Analytics

School of Business

Program Name: MBA

Course Name: UNIT 2

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction:Descriptive Analytics: An Introduction

• Meaning: Descriptive Analytics involves examining historical data to understand

and describe what has happened in the past within a business or organization. It
focuses on summarizing, organizing, and visualizing data to provide insights into
patterns, trends, and key performance indicators (KPIs).
• Objectives:
1.Data Summarization: Condense large datasets into meaningful and manageable
summaries.
2.Pattern Recognition: Identify trends, relationships, and patterns within the data.
3.Performance Measurement: Evaluate and measure key metrics and indicators.
4.Data Exploration: Gain a foundational understanding of the data for further
analysis.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Functions:
1.Data Aggregation: Combine and summarize data to create meaningful
metrics.
2.Data Profiling: Examine the structure and content of datasets to identify
anomalies or patterns.
3.Exploratory Data Analysis (EDA): Analyze data to uncover hidden
insights and relationships.
4.Visualization: Present data in visual formats to enhance understanding.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Exploring Business Data Using Various Techniques and Tools:

1.SQL Queries:
1. Extracting and summarizing data using SQL to explore databases.
2.Data Exploration Tools:
1. Using tools like Pandas in Python or dplyr in R for data manipulation and
exploration.
3.Data Visualization Tools:
1. Tools such as Tableau, Power BI, and Google Data Studio for creating interactive
visualizations.
4.Excel for Data Exploration:
1. Leveraging Excel's features for sorting, filtering, and creating pivot tables.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Describing Data Using Visualization Techniques:

1.Bar Charts:
1. Representing categorical data using bars of different lengths.
2.Line Charts:
1. Displaying trends over time or sequential categories.
3.Pie Charts:
1. Illustrating the proportion of different categories in a whole.
4.Scatter Plots:
1. Displaying relationships between two continuous variables.
5.Heatmaps:
1. Visualizing data in a matrix format using colors to represent values.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Visualization Techniques Using MS Excel:

1.Pivot Tables:
1. Summarizing and aggregating data for easy analysis.
2.Charts and Graphs:
1. Creating various visualizations like bar charts, line charts, and pie charts.
3.Conditional Formatting:
1. Highlighting data points based on specified conditions.
4.Data Bars and Icon Sets:
1. Visualizing data using graphical elements within cells.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Resources for Business Analytics:

1.Online Courses:
1. Platforms like Coursera, Udacity, and edX offer courses in analytics.
2.Books:
1. "Data Science for Business" by Foster Provost and Tom Fawcett.
3.Online Communities:
1. Engaging in forums like Stack Overflow and Kaggle for problem-solving and
collaboration.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Categories of Data:
1.Structured Data:
1. Organized data with a defined schema, commonly found in relational databases.
2.Unstructured Data:
1. Data without a predefined data model, including text, images, and multimedia.
3.Semi-Structured Data:
1. Data that is partially organized, often with some level of structure.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• ECM Framework (Enterprise Content Management):

• ECM is a set of strategies, methods, and tools to manage the entire lifecycle
of information within an organization. It includes capturing, storing,
managing, preserving, and delivering content.
•
Enterprise Content Management (ECM) is a comprehensive framework that
involves the strategies, processes, and tools used by organizations to
manage the creation, capture, storage, retrieval, distribution, and
preservation of information. ECM aims to streamline content-related
processes and enhance collaboration within an organization. Here are key
components and considerations within the ECM framework:

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Key Components of ECM Framework:

1.Capture:
1. Involves the collection of content from various sources, including documents,
emails, images, and multimedia.
2.Document Management:
1. Organizes, categorizes, and manages documents throughout their lifecycle. This
includes version control, access control, and metadata management.
3.Records Management:
1. Ensures compliance with regulatory requirements by managing the retention,
storage, and disposal of records in a systematic manner.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

4.Workflow Automation:
1. Automates and streamlines business processes related to content, ensuring efficient
routing, approval, and collaboration.
5.Search and Retrieval:
2. Provides robust search capabilities to retrieve relevant content quickly. This
includes full-text search, metadata search, and advanced search functionalities.
6.Integration:
3. Connects with other enterprise systems, such as Customer Relationship
Management (CRM), Enterprise Resource Planning (ERP), and Business
Intelligence (BI) systems, for seamless information exchange.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

7.Security and Access Control:

1. Implements security measures to protect sensitive information and controls access rights
based on user roles and permissions.
8.Collaboration:
2. Facilitates collaboration by enabling users to work on shared documents, track changes,
and engage in real-time collaboration.
9.Version Control:
3. Manages and tracks different versions of documents, ensuring that users are working
with the latest and most accurate information.
10.Audit Trails:
4. Records and monitors user activities within the ECM system for compliance and security
purposes.

Name of the Faculty: Dr. PRIYANKA MALIK

 Introduction

• Personnel Resources:
1.Data Analysts:
1. Analyzing and interpreting complex data sets to inform business decision-making.
2.Data Scientists:
1. Applying statistical models and machine learning algorithms to analyze data.
3.Business Intelligence Analysts:
1. Focusing on creating reports and dashboards for business performance monitoring.

Name of the Faculty: Dr. PRIYANKA MALIK