Business Analytics

Data Analytics

Data Analytics is the discipline of extracting actionable insights by structuring, processing, analysing and visualising data using methods and software tools.

Benefits

• Improved decision-making
• Enhanced data-driven strategies
• Better understanding of customer behaviour

Applications

• Market research and segmentation
• Financial analysis
• Customer retention

Examples

For example, a retail company may use data analytics to analyse sales data and identify trends, helping them optimise inventory and pricing strategies.

Book and Tutorials

• Data Analytics for Business: This book contains material about AI, Machine Learning, Power BI, SQL and R. Additionally, many data sets are provided.
• Tutorial: Learn to become a Data Analyst - free interactive tutorials.

Operational Analytics

Operational Analytics not only uses data and analytics to improve day-to-day operations within an organisation, leading to more efficient processes, but finds the best solutions for the business.

Benefits

• Increased operational efficiency
• Optimal cost reduction
• Real-time monitoring

Applications

• Supply chain optimisation
• Quality control
• Inventory management

Examples

For instance, a manufacturing company may use operational analytics to find the optimal production strategy, monitors production lines and detect anomalies, reducing changeovers and improving product's profit & quality.

Book and Tutorials

• Introduction to Management Science: This book contains material about Modelling, Optimisation and Probability. It has several related YouTube tutorials.
• Math Programming App: This online app has many operational research optimisation examples.

Business Analytics

Business Analytics combines data analysis and statistical techniques to help businesses make data-driven decisions and gain a competitive advantage.

Benefits

• Competitive intelligence
• Improved profitability
• Optimised marketing campaigns

Applications

• Predictive analytics
• Customer segmentation
• Performance forecasting

Examples

For example, an e-commerce company may use business analytics to analyse customer data and create personalised product recommendations, increasing sales and customer satisfaction.