LAB MANUAL (1).docx

UNIT IBUSINESS ANALYTICS

1. INTRODUCTION TO BUSINESS ANALYTICS

Business analyticsis the combination of skills, technologies, applications and processes used by organizations to gain insight into their business based on data and statistics to drive business planning. Business analytics is used to evaluate organization-wide operations, and can be implemented in any department from sales to product development to customer service.Business analytics refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning, which is also based on data and statistical methods.Business analytics makes extensive use of data, statistical and quantitative analysis, explanatory and predictive modeling, and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions. Business intelligence is querying, reporting, OLAP, and "alerts."In other words, querying, reporting, OLAP, and alert tools can answer questions such as what happened, how many, how often, where the problem is, and what actions are needed. Business analytics can answer questions like why is this happening, what if these trends continue, what will happen next (that is, predict), what is the best that can happen (that is, optimize).

1.1 MAJOR COMPONENTS OF BUSINESS ANALYTICS

Data Mining Create models by uncovering previously unknown trends and patterns in vast amounts of data e.g. detect insurance claims frauds, Retail Market basket analysis.

There are various statistical techniques through which data miningis achieved. Classification ( when we know on which variables to classify the data e.g. age, demographics) Regression Clustering ( when we dont know on which factors to classify data) Associations & Sequencing Models

Text Mining -Discover and extract meaningful patterns and relationships from text collections e.g. understand sentiments of Customers on social media sites like Twitter, Face book, Blogs, Call center scripts etc. which are used to improve the Product or Customer service or understand how competitors are doing.

Forecasting Analyze & forecast processes that takes place over the period of time e.g. predict seasonal energy demand using historical trends, Predict how many ice creams cones are required considering demand

Predictive Analytics -Create, manage and deploy predictive scoring models e.g. Customer churn &retention, Credit Scoring, predicting failure in shop floor machinery

Optimization Use of simulations techniques to identify scenarios which will produce best results e.g. Sale price optimization, identifying optimal Inventory for maximum fulfillment & avoid stock outs

Visualization -Enhanced exploratory data analysis & output of modeling results with highly interactive statistical graphics

1.2 DATA WAREHOUSEA data warehouse is a relational database that is designed for query and analysis rather than for transaction processing. It usually contains historical data derived from transaction data, but it can include data from other sources. It separates analysis workload from transaction workload and enables an organization to consolidate data from several sources.In addition to a relational database, a data warehouse environment includes an extraction, transportation, transformation, and loading (ETL) solution, an online analytical processing (OLAP) engine, client analysis tools, and other applications that manage the process of gathering data and delivering it to business users.A common way of introducing data warehousing is to refer to the characteristics of a data warehouse as set forth by William Inmon:Subject OrientedData warehouses are designed to help you analyze data. For example, to learn more about your company's sales data, you can build a warehouse that concentrates on sales. Using this warehouse, you can answer questions like "Who was our best customer for this item last year?" This ability to define a data warehouse by subject matter, sales in this case, makes the data warehouse subject oriented.IntegratedIntegration is closely related to subject orientation. Data warehouses must put data from disparate sources into a consistent format. They must resolve such problems as naming conflicts and inconsistencies among units of measure. When they achieve this, they are said to be integrated.Non-volatileNon-volatile means that, once entered into the warehouse, data should not change. This is logical because the purpose of a warehouse is to enable you to analyze what has occurred.Time VariantIn order to discover trends in business, analysts need large amounts of data. This is very much in contrast toonline transaction processing (OLTP)systems, where performance requirements demand that historical data be moved to an archive. A data warehouse's focus on change over time is what is meant by the term time variant.

Exercise No.: 2BLOG CREATION AND PAGE ANALYTICS

Date:

Aim: To create a blog and generate the page analytics report in www.blogger.com

Data Set/Requirement:Create a blog to review a product category (Ex. Mobile phones)

Procedure:1. Logon to www.blogger.com using a Google account2. Select the New Blog in the Dashboard (Figure 1.1)3. Enter a Title ,Address and Template for the Blog (Figure 1.2)4. Click on the Create post icon near to the Blog in the Dash Board 5. Start Creating 10 relevant posts in the Blog.6. After creating the posts, return to the Dashboard7. Click on the Blog8. On the Left hand side pane, Click on the Stats Option 9. Record the observation of Traffic Sources, Audience Post wise Reach (Figure 1.5)

Test your knowledge Create the blog for discussing Marketing concepts related to FMCG products.

Figure 1.1 Creating New Blog in www.blogger.com

Figure 1.2 Blog option

Figure 1.3 Blogger Dashboard

Figure 1.4 New post

Figure 1.5 Posting a blog

Figure 1.5 Page statistics report

Figure 1.6 Blog front end view

1.4 WEB ANALYTICSWeb analytics is the measurement, collection, analysis and reporting of web data for purposes of understanding and optimizing web usage. Web analytics is not just a tool for measuring web traffic but can be used as a tool for business and market research, and to assess and improve the effectiveness of a web site. Web analytics applications can also help companies measure the results of traditional print or broadcast advertising campaigns. It helps one to estimate how traffic to a website changes after the launch of a new advertising campaign. Web analytics provides information about the number of visitors to a website and the number of page views. It helps gauge traffic and popularity trends which is useful for market research.There are two categories of web analytics; off-site and on-site web analytics.Off-site web analytics refers to web measurement and analysis regardless of whether you own or maintain a website. It includes the measurement of a website's potential audience (opportunity), share of voice (visibility), and buzz (comments) that is happening on the Internet as a whole.On-site web analytics measure a visitor's behavior once on your website. This includes its drivers and conversions; for example, the degree to which different landing pages are associated with online purchases. On-site web analytics measures the performance of your website in a commercial context. This data is typically compared against key performance indicators for performance, and used to improve a web site or marketing campaign's audience response.Google Analytics is the most widely used on-site web analytics service; although new tools are emerging that provide additional layers of information, including heat maps and session replay.

Exercise No.: 3BLOG PROMOTION AND MONITORING

Date:

Aim: To promote the blog using different tools

Data Set/Requirement:Promote the blog using the following tools Short URL Social Media (Facebook, Twitter)

Procedure:1. Create the blog using www.blogger.com2. Register/Login to www.bitly.com3. Paste the original blog url in the appropriate box (ex: http://srmcars.blogspot.in/)4. Get the shorten URL5. Get the customized URL from the pop-up box6. Login to your social media7. Share / paste the shorten URL8. Record the observation of Traffic Sources, Audience Post wise Reach in blogger dashboard

Test your knowledge Create short URL and promote the blog which you created in the last exercise in Social media.

Exercise No.: 4WEB ANALYTICS

Date:

Aim: To perform web analytics for the created blog/website

Data Set/Requirement:Using Google Analytics (www.google.com/analytics) monitor or analyse the blog.

Procedure1. Register / login to (www.google.com/analytics) using Google Account2. Click the Admin from the menu3. Choose Create new account from the Account drop box4. Fill the website (blog) details5. Click the Get Tracking ID6. The pop-up window will show the Agreement, Click I Accept7. Copy the Tracking code (Ex.: UA-52349054-1)8. Login to www.blogger.com9. Choose your blog detail10. Select Settings -> Other from the left panel11. Go to Google Analytics section12. Paste the Tracking code13. Press Save Settings14. Again go to www.google.com/analytics15. Click Reporting on the menu16. Choose Real-Time in the left box17. Generate different kinds of reports of the Audience like Demograpics, Interests, Geo, Behaviour, Technology

Figure 1.7 Google Analytics Admin panel

Figure 1.8 Account Creation

Figure 1.9 Tracking code

Figure 1.10 Integrate Google Analytics with Blogger

Figure 1.11 Live reporting of the blog

Exercise No.: 5ONLINE DATA COLLECTION

Date:

Aim: To collect the survey data online

Data Set/Requirement:Using Google forms (Google drive) collect the data online

Procedure1. Register/login to www.drive.google.com2. Click the Create button3. Select Form from the drop down4. Select the theme5. Name the Form in the Title section6. Create the question7. Select the question typea. Textb. Paragraph textc. Multiple Choiced. Checkboxese. Choose from the listf. Gridg. Scaleh. Datei. Time8. Once finish the question click Done button9. To add another question press Add item10. Repeat the step 711. After finishing all the question entry, press View live form from the menu12. The live form will open13. To send the form to the users email, click Send form14. To embed the form in blog, Click Embed button on the Send form pop up window15. Code will generated, copy the code and paste it into to the post.

Figure 1.12 Create the Google Form

Figure 1.13 Theme selection

Figure 1.14 Send form

1.6 SKILL SET OF A BUSINESS ANALYST

Communication Skills: By nature of the job, business analysts spend a great deal of time interacting with users, clients, management and developers. A projects success depend upon the business analyst clearly communicating details like project requirements, requested changes and testing results. Articulate language skills and outstanding written communication abilities are absolutely necessary to thrive in abusiness analyst career.

Technical Skills: In order to successfully identify business solutions, a business analyst needs to know what information technology applications are being utilized, what new possible outcomes can be achieved through current platforms and what the latest technology offers. Gaining respect and creating a sense of confidence among IT and business end-users requires a business analyst to speak with authority the dual languages of business and technology.

Analytical Skills: A business analysts skill set must include outstanding analytical skills so that a customers business needs are properly interpreted and translated into application andoperational requirements. A major aspect of the job is analyzing data, documents, user input surveys and workflow to determine which course of action will correct the business problem.

Problem Solving Skills: While the ability to create workable solutions to business problems is not unique to business analysts, it is a necessary skill for performing the job successfully. When these professionals are working to developing custom business solutions, nothing is 100% predictable so finding ways to quickly resolve problems and move toward a projects successful completion is paramount in the business analysts role.

Decision-Making Skills: Another important business analyst skill is the ability to make decisions. As a consultant to management and advisor to developers, the business analyst is called upon for sound judgment in a wide variety of complex business matters, any number of which could determine the viability of the business for years to come. Professionals who wish to pursue abusiness analyst career must be able to assess a situation, receive input from stakeholders, and select a course of action and they must often do so without hesitation.

Managerial Skills: The business analysts primary role involves managing projects. Planning the project scope, directing staff members, handling change requests, forecasting budgets and keeping everyone on the project within allotted time constraints are just some of the management skills a business analyst must possess. Supervising projects of all sizes, from inception to implementation and usually concurrently takes a high degree of managerial skill.Negotiation and Persuasion Skills: A business analyst serves as a liaison between developers and users, clients and companies, and management and IT. Finding the balance between individual wants and business needs, and then interacting with a variety of personality types toward a solution that works for the business, takes outstanding persuasion skills. When competing for client projects, a business analysts negotiation skills come into frequent use, with the goal of achieving a profitable outcome for the company and a working solution for the client. Maintaining relationships within an organization and with external partners is an important function of a business analyst.

Sources:

http://www.webopedia.com/TERM/B/business_analytics.html

http://www.sas.com/offices/europe/uk/technologies/analytics/datamining/http://docs.oracle.com/cd/B10501_01/server.920/a96520/concept.htmhttp://ghulamahmedbinsaeed.blogspot.in/2014/04/how-to-make-blog-and-make-money-blogging.htmlhttp://en.wikipedia.org/wiki/Web_analyticshttp://smallbusiness.chron.com/companies-use-analytics-54630.htmlhttp://en.wikipedia.org/wiki/URL_shorteninghttps://support.google.com/docs/answer/87809?hl=enhttp://en.wikibooks.org/wiki/Business_Analysis_Guidebook/Communication_Skills