Syllabus
Unit 1
Introduction to Business Analytics: Definition and Scope of Business analytics. Importance of data-driven decision making. Overview of analytics tools and techniques. Ethical considerations in business analytics. Data collection methods and sources, Types of Data – Attributes and Measurement – Types of data sets – Data quality – Types of Digital Data. Data Warehouse Architecture, Data Warehouse technologies, Pre-processing techniques – Data cleaning and data quality assurance, Data integration and transformation techniques, Data governance and security.
Unit 2
Descriptive Analytics Datavisualisation using charts: histograms, bar charts, box plots, line graphs, scatter plots. etc; Data description: Measure of Central Tendency, Measure of Dispersion, Relationship between variables: Covariance, Correlation and coefficient of determination.
OLTP and OLAP OLTP – OLAP – Different OLAP Architectures – OLTP and OLAP – Data models for OLTP and OLAP – Role of OLAP Tools in BI Architecture. Business Intelligence – Business Intelligence defined – Evolution of BI and Role of DSS, EIS, MIS and Digital Dashboards – Need for BI – BI value chain – Introduction to Business Analytics. BI Definitions and Concepts – BI Component Framework – Need for BI – BI Users – Business Intelligence applications – BI roles and responsibilities.
Unit 3
Predictive Analytics Regression Analysis: Linear, logistic regression. Time Series Analysis: Forecasting methods (e.g. exponential smoothing). – Measures of Forecast Error – Trend Analysis – Time Series Models – Auto Regressive Model – Applications of Time Series Models. Advanced Forecasting Techniques: Ratio to Moving Average, Winter Method.
Prescriptive Analytics
Nonlinear optimization, Monte Carlo simulations, Decision trees, Bayesian networks and BIC, Cross- validation, Boot strap methods, Decision Support Systems (DSS) and their applications.
Text Books / References
Text books / References
- Marc J. Schniederjans, Dara G. Schniederjans and Christopher M. Starkey, ” Business Analytics Principles, Concepts, and Applications – What, Why, and How”, Pearson Ed, 2014
- Christian Albright S and Wayne L. Winston, “Business Analytics – Data Analysis and Decision Making”, Fifth edition, Cengage Learning, 2015.
- James R. Evans, “Business Analytics – Methods, Models and Decisions”, Pearson Ed, 2012.
