Business and the governments are finding ways to make sense of all the available data. Business Analytics thus finds favor as it is the use of tools and techniques like data mining, pattern matching, data visualizations and predictive modeling to predict and optimize outcomes and derive value from the data. Equipped with this useful information, organizations can compete better in cut-throat markets both locally and globally.
Business Analytics lies at the intersection of business and data science. It takes business data (such as sales figures or customer relations metrics) through statistical and operations analysis and comes out with insights into various business functions. Business Analytics offers descriptive, predictive, diagnostic and prescriptive action items that make organizations better informed and take better decisions.
The course will enable you to-
Explore data to find new patterns and relationships (Data Mining)
Predict the relationship between different variables (Predictive Modeling, Predictive Analytics)
Predict the probability of default and create customer Scorecards (Logistic Regression)
Understand a Problem in Business, explore and analyze the problem
Use tools like R (open source) and Excel to interpret data
Solve business problems using analytics (in R) in different fields
This course is designed to equip professionals working in the fields of Finance, Marketing, Economics, Statistics, Mathematics, Computer Science, IT, Analytics, Marketing Research, or Commodity markets with the essential tools, techniques and skills to answer important business questions.
There are no real skills you need to take this course, although basic mathematics and good analytical skills will be beneficial. However, the course is designed for people with minimal mathematical knowledge.
The use of Business Analytics is widespread across all industries and functions, including Information Technology, Web/E-commerce, Healthcare, Law Enforcement, Banking and Insurance, Biotechnology, Human Resource Management. Some of the application areas include critical product analysis, target marketing, customer lifecycle management, customer service, social media behavior and link analysis, fraud detection, genetic research, inventory management, etc.
Some of the Business Analytics roles across industries are Data Analyst,Business Analyst,Financial Analyst, etc.