Sales Metrics
Data Mining Models
Analyzing Online Reputation
Building Predictive Models
Role of Statistics in Business Analytics
Statistical Analysis in Supply Chain Management
Data Collection
Key Components of Machine Learning
Analyzing Market Data 
Sales figures, market share percentages, customer demographics
...Website analytics, social media engagement
metrics, app usage statistics
...
Data Mining Models Hierarchical Clustering Builds a tree of clusters based on distance
metrics ...Sales Forecasting: Regression models are used to predict future sales based on historical data
...
Analyzing Online Reputation A positive online reputation can lead to increased trust, customer loyalty, and ultimately, higher
sales ...businesses understand how they are perceived in real-time and can involve: Tracking brand mentions Analyzing engagement
metrics Identifying trends and patterns in consumer conversations 3
...
Building Predictive Models Common predictive modeling problems include: Customer churn prediction
Sales forecasting Fraud detection Credit scoring 2
...Common evaluation
metrics include: Metric Description Accuracy The proportion of correctly predicted instances out of the total instances
...
Role of Statistics in Business Analytics Performance Measurement: Businesses can measure performance
metrics and KPIs using statistical methods to evaluate success
...Average
sales per month
...
Statistical Analysis in Supply Chain Management Inventory levels,
sales data analysis Inferential Statistics Draws conclusions about a population based on a sample
...Supplier Evaluation: Organizations can use statistical analysis to assess supplier performance based on delivery times, quality
metrics, and pricing, leading to better supplier selection
...
Data Collection Stock prices,
sales data Transactional Data Data generated from transactions, typically used in business operations
...Performance Measurement: Data collection enables organizations to track performance
metrics and KPIs
...
Key Components of Machine Learning sales records, customer interactions)
...Various
metrics are used to assess the effectiveness of machine learning models: Metric Description Use Case Accuracy Proportion of correctly predicted instances
...
Visual Data Communication Sales performance, market share analysis, trend analysis Infographics Visual representations that combine data, graphics, and text to tell a story
...data storytelling Dashboards Interactive visual displays that consolidate key
metrics and data points in one view
...
Enhancing Brand Strategy with BI Dashboards Visual representations of key
metrics and performance indicators
...Data Collection: Gather data from various sources, including
sales, customer feedback, and market research
...
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