NOTE
Slides marked as Extra study are not as a part of syllabus.
Those are provided for add-on knowledge.
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Disclaimer
This presentation is purely for academic purpose and does not carry
any commercial value.
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respective image holder(s). Images are used only for indicative
purpose and does not carry any other meaning.
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Please follow this…
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INTRODUCTION
Data Analysis in Excel
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BOOK & REFERENCES
TEXT BOOK
Hector Guerrero, “Excel Data Analysis - Modeling and Simulation”, Springer-Verlog
Camm, Cochran, Fry, Ohlmann, Anderson, Sweeney, Willians, “Essentials of Business
Analytics”, Cenage Learning
REFERENCE LINK FOR EXCEL
https://www.excel-easy.com/
https://support.office.com/en-us/article/excel-for-windows-training-9bc05390-e94c-
46af-a5b3-d7c22f6990bb?wt.mc_id=otc_home&ui=en-US&rs=en-US&ad=US
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TABLE OF CONTENT
1 Decision Making Process
2 Data Analysis & Analytics
3 Outcome of Data Analysis
4 Data
5 Different Forms of a Data
6 Data Sources & Acquisition
7 Data Ownership & Governance
8 Data Analysis & Analytics in Practice
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DECISION MAKING PROCESS
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What is Business Management?
Business management is about managing and leading - People, Tasks,
Operations, Processes, Projects, Places, Things and Ideas.
Business management centers on –
to Achieve Milestones for
Success of business
to increase Business Value and
Profitability.
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What is the role of
business professional?
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Role of a Business Professional
Business Professionals have to
Plan, Coordinate, Organize, & Lead
the organization for
Better Performance & Profit.
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In the journey,
business professionals have to
make various decisions.
How they
make decisions?
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Step-by-Step Decision Process
Decision making is the process of making choices by identifying a decision, gathering
information, and assessing alternative resolutions.
Using a step-by-step decision-making process can help you make more deliberate,
thoughtful decisions by organizing relevant information and defining alternatives.
This approach increases the chances
that you will choose the most
satisfying alternative possible and
your decision will be more
successful.
https://www.umassd.edu/fycm/decision-making/process/ 12
Decision Making Approaches
Traditional
We have always done in this way.
Intuition
Gut feeling
Rule of thumb
a broadly accurate guide or principle, based
on practice rather than theory
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Is decision always right?
What if, decision is too risky?
Can you improve decision making?
…Informed Decisions…
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Why Decision Making difficult?
Many
Uncertainty
alternatives
How to overcome this PROBLEM? 15
Data Driven Decision Making
Decisions are supported with insights from data to-
Alternative
Alternative
Alternative
Decide Best
Quantify Risk
Alternative
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Advantages of Data Driven Decision
Making
Firms using data driven decision making have
Higher productivity Market value
Profitability Increased output
Hence Business Analytics is essential.
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Statistics on Data Driven Decision Making
Companies in the top third of their industry in the use of
data-driven decision making were, on average,
5% more productive and 6% more profitable
than their competitors.
CONCLUSION –
Decision has to be backed by Data.
https://hbr.org/2012/10/big-data-the-management-revolution
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Decision Making Process
Identify business problem Evaluate alternatives Choose right
& decision to be taken and weight alternative
Gather data, criteria or Determine the set of Take action Review decision &
metric of success/failure alternative decisions consequences
https://www.umassd.edu/fycm/decision-making/process/ 19
DATA ANALYSIS & ANALYTICS
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What is Data & Data Analysis?
What is DATA?
Data is facts and figures.
What is Data Analysis?
Data analysis organizes, transform, interprets and presents the data
into valuable information.
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Why to Study Data Analysis & Analytics?
Discover
Data
Calculate & hidden patterns
driven
minimize which aren’t
decisions
risk possible for
making
human
Informed Decision Reduce Risk Discover Patterns
Understand Foresee Increase
the past & future stakeholders
learn from & value of
mistakes be prepared business
Learn from History Predict for Future Increase Profit 22
Analysis and Analytics
ANALYSIS
Detailed examination of the elements
or structure of something
The process of separating something
into its constituent elements
ANALYTICS
Systematic computational analysis of
data
Information resulting from the
systematic analysis of data
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Two sides of same coin.
Analysis v/s Analytics
ANALYSIS ANALYTICS
Understand what happened in the Predict what is going to happen in
past future
Analysis is first step of analytics. Analytics is next step of analysis.
It is for data summarization, slicing It is used for predictive and
and dicing of data. prescriptive analytics.
It is not a exhaustive analysis. It more exhaustive and detailed.
It can be done with small data size It require more data and it is time
and quickly. consuming.
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OUTCOME OF ANALYSIS
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Outcome of Data Analysis
INSIGHTS
How does insights presented?
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DATA
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What is Data?
Data is -
Facts and Statistics collected
together for reference or analysis.
Facts, Figures, Statistics, Details,
Particulars, Specifics, Features
Quantities, Characters, or
Symbols on which operations are
performed by a computer
Things known or assumed as facts,
making the basis of reasoning or
calculation.
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DIFFERENT FORMS OF DATA
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Different forms of Data
Numeric & Category Text Speech/Voice
Social Media Geospatial Video & Images 33
Different Type of Data
Numeric &
Voice
Category
Image /
Text
Video
Social Media Geospatial
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DATA SOURCES & ACQUISITION
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How data is generated?
Data is generated by various
PROCESSES.
Data is generated by various
FUNCTIONS.
Data is generated by various
ACTIVITIES. 36
Digital Form and Stored on Cloud
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DATA OWNERSHIP & GOVERNANCE
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Data Ownership
Data is owned by FUNCTION. Data is managed by
(Marketing, Finance, HR, Supply INFORMATION TECHNOLOGY
Chain, Operations, etc.) on the behalf of FUNCTION.
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DATA ANALYSIS IN PRACTICE
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Examples in Marketing
Customer Segmentation
Channel Analysis
Marketing Mix Analysis
Sales Performance Analysis
Sales Campaign Analysis
Price Bundling
Revenue Analysis
Lifetime Customer Value
Digital Marketing Analysis
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Examples in Finance
Profit and Loss Analysis
Outstanding Analysis
Risk based Pricing
Dynamic Pricing
Fraud Analysis
Recovery Analysis
Risk Profiling
Portfolio Analysis
Credit Risk Analysis
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Examples in Human Resources
Recruitment Analysis
Employee Exit Analysis
Employee Retention Analytics
Workforce Compensation
Analysis
Learning & Development Analysis
Workforce Performance Analysis
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Examples in Supply Chain
Demand and Supply Analysis
Sourcing Analysis
Quality Control
Inventory Analysis
Warehouse Analysis
Order Fulfillment Analysis
Route Analysis
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