Descriptive Models
Business Analytics
Understanding Data Analytics
The Role of Data Analysis in Marketing
Findings
Building Relationships Through Data Analysis
Data-Driven Business Insights
Statistical Analysis in Business Analytics
Functionality 
The functionality of business analytics can be categorized into several key areas:
Descriptive Analytics: Provides insights into past performance and trends through data aggregation and mining techniques
...Explainable AI: The need for transparency in machine learning
models will lead to advancements in explainable AI, making it easier to understand model decisions
...
Business Analytics Business analytics can be categorized into three main types:
Descriptive Analytics: This type focuses on summarizing historical data to understand what has happened in the past
...Predictive Analytics: This involves using statistical
models and machine learning techniques to forecast future outcomes based on historical data
...
Understanding Data Analytics serving a distinct purpose: Type of Analytics Description Use Cases
Descriptive Analytics Analyzes historical data to understand what happened in the past
...Root cause analysis, performance analysis Predictive Analytics Uses statistical
models and machine learning techniques to forecast future outcomes
...
The Role of Data Analysis in Marketing Methodology Description Applications
Descriptive Analysis Summarizes historical data to identify trends and patterns
...Predictive Analysis Uses statistical
models and machine learning techniques to forecast future outcomes
...
Findings Below are some common types of findings in business analytics:
Descriptive Findings: These findings summarize historical data and provide insights into what has happened in the past
...Predictive Findings: These findings use statistical
models to forecast future outcomes based on historical data
...
Building Relationships Through Data Analysis It encompasses various techniques and tools, which can be broadly categorized into:
Descriptive Analysis - Summarizes historical data to understand what has happened in the past
...Predictive Analysis - Uses statistical
models and machine learning techniques to predict future outcomes based on historical data
...
Data-Driven Business Insights Method Description Applications
Descriptive Analysis Summarizes historical data to identify trends and patterns
...Predictive Analysis Uses statistical
models and machine learning techniques to forecast future outcomes
...
Statistical Analysis in Business Analytics most commonly used methods include: Method Description Application
Descriptive Statistics Summarizes and describes the main features of a data set
...Overfitting: Creating
models that are too complex can lead to overfitting, where the model performs well on training data but poorly on unseen data
...
Statistical Analysis for Operational Efficiency in analyzing operational efficiency: Method Description Application
Descriptive Statistics Summarizes and describes the main features of a dataset
...Simulation
Models the operation of a process or system
...
Analyze Data for Strategic Planning types: Type of Analytics Description Application in Strategic Planning
Descriptive Analytics Analyzes historical data to understand past performance
...Predictive Analytics Uses statistical
models and machine learning techniques to forecast future outcomes
...
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