Getting Started with Business Analytics

Getting Started with Business Analytics: Insightful Decision-Making

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Features

  • Explains the fundamentals of analytics methodologies and how they should be applied
  • Requires no prior knowledge of the subject
  • Defines and clarifies hyped buzzwords
  • Provides real-world examples of business analytics applications
  • Includes suggested business analytics projects
  • Offers supplementary resources at www.businessanalytics-book.com

Summary

Assuming no prior knowledge or technical skills, Getting Started with Business Analytics: Insightful Decision-Making explores the contents, capabilities, and applications of business analytics. It bridges the worlds of business and statistics and describes business analytics from a non-commercial standpoint. The authors demystify the main concepts and terminologies and give many examples of real-world applications.

The first part of the book introduces business data and recent technologies that have promoted fact-based decision-making. The authors look at how business intelligence differs from business analytics. They also discuss the main components of a business analytics application and the various requirements for integrating business with analytics.

The second part presents the technologies underlying business analytics: data mining and data analytics. The book helps you understand the key concepts and ideas behind data mining and shows how data mining has expanded into data analytics when considering new types of data such as network and text data.

The third part explores business analytics in depth, covering customer, social, and operational analytics. Each chapter in this part incorporates hands-on projects based on publicly available data.

Helping you make sound decisions based on hard data, this self-contained guide provides an integrated framework for data mining in business analytics. It takes you on a journey through this data-rich world, showing you how to deploy business analytics solutions in your organization.

Table of Contents

Introduction to Business Analytics
The Paradigm Shift
From Data to Insight
From Business Intelligence to Business Analytics
Levels of "Intelligence"

The Business Analytics Cycle
Objective
Data
Analytic Tools and Methods
Implementation
Guiding Questions
Requirements for Integrating Business Analytics
Common Questions

Data Mining and Data Analytics
Data Mining in a Nutshell

What Is Data Mining?
Predictive Analytics
Forecasting
Optimization
Simulation

From Data Mining to Data Analytics
Network Analytics
Text Analytics

Business Analytics
Customer Analytics

"Know Thy Customer"
Targeting Customers
Project Suggestions

Social Analytics
Customer Satisfaction
Mining Online Buzz
Project Suggestions

Operational Analytics
Inventory Management
Marketing Optimization
Predictive Maintenance
Human Resources and Workforce Management
Project Suggestions

Bibliography

Author Bio(s)

Editorial Reviews

"… an interesting ‘how to get started’ book about a contemporary and challenging development in business. … This timely, accessible book is relevant to students, managers, analysts, executives, consultants, and the general public. Recommended."
—E.J. Szewczak, CHOICE, August 2013

"A must read for college students and business managers interested in big data and analytics. The book beautifully integrates the business and technology aspects of analytics. It provides in-depth know-how to enable the reader to ‘know’ what and ‘how’ to effectively leverage analytics to deliver business solutions. If you want to get into business analytics, start your journey here!"
—Ram D. Gopal, Professor and Department Head, School of Business, University of Connecticut

"This book offers an introduction to the essence of business analytics, providing a good summary of the analytical solutions employed across these industries today, including an updated vocabulary on new domains such as social media. The reader will appreciate the difference between supervised and unsupervised learning, k-means clustering and regression tree classification. … Getting Started with Business Analytics will simplify, and demystify, the concepts around the 'science of data.' Looking back at my career in the field of business analytics, I realize that it would have been extremely helpful to have had such a book in hand. It would have provided me with guidance on structuring my analytical solutions and would have inspired me to greater creativity. I hope this book will light the spark of curiosity for a new generation of data scientists."
—Eric Sandosham, Managing Director and Regional Head of Decision Management at Citibank, Asia Pacific 2010–2012

 
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