Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 1. Business Analytics - Coggle Diagram
Unit 1. Business Analytics
Components of Business Analytics
• Text Mining
• Forecasting
• Predictive Analysis • Optimisation
• Visualisation
• Data Mining
Scope of Business analytics
Descriptive Analytics
Predictive Analytics
Diagnostic Analytics
Prescriptive Analytics
Difference
Question Answered
Historical Data
Operations
Advantages of Business Analytics:
Monitoring Mission Progress
Increasing Efficiency
Staying Updated with Customers
Disadvantages of Business Analytics:
Lack of Alignment, Availability, and Trust
Lack of Commitment
Low Quality of Underlying Transactional Data
Too Many Data Sources
Lack of Skills
Data Storage Limitations
Basic techniques used for business analytics
Correlation Analysis
Data Mining
Experimental Design
Factor Analysis
Linear Optimization
Meta-Analysis
Regression Analysis