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The complete introduction to business analytics for every newcomer to the field
Learn everything you need to know to start using business analytics and integrating it throughout your organization. Business Analytics Principles, Concepts, and Applications brings together a complete, integrated package of knowledge for newcomers to the subject. The authors present an up-to-date view of what business analytics is, why it is so valuable, and most importantly, how it is used. They combine essential conceptual content with clear explanations of the tools, techniques, and methodologies actually used to implement modern business analytics initiatives.
They offer a proven step-wise approach to designing an analytics program, and successfully integrating it into your organization, so it effectively provides intelligence for competitive advantage in decision making.
Using step-by-step examples, the authors identify common challenges that can be addressed by business analytics, illustrate each type of analytics (descriptive, prescriptive, and predictive), and guide users in undertaking their own projects. Illustrating the real-world use of statistical, information systems, and management science methodologies, these examples help readers successfully apply the methods they are learning.
Unlike most competitive guides, this text demonstrates the use of IBM's menu-based SPSS software, permitting instructors to spend less time teaching software and more time focusing on business analytics itself.
A valuable resource for all beginning-to-intermediate-level business analysts and business analytics managers; for MBA/Masters' degree students in the field; and for advanced undergraduates majoring in statistics, applied mathematics, or engineering/operations research.
Download the sample pages (includes Chapter 1 and Index)
PART I: WHAT ARE BUSINESS ANALYTICS 1
Chapter 1: What Are Business Analytics? 3
1.1 Terminology 3
1.2 Business Analytics Process 7
1.3 Relationship of BA Process and Organization Decision-Making 10
1.4 Organization of This Book 12
Discussion Questions 13
PART II: WHY ARE BUSINESS ANALYTICS IMPORTANT 15
Chapter 2: Why Are Business Analytics Important? 17
2.1 Introduction 17
2.2 Why BA Is Important: Providing Answers to Questions 18
2.3 Why BA Is Important: Strategy for Competitive Advantage 20
2.4 Other Reasons Why BA Is Important 23
2.4.1 Applied Reasons Why BA Is Important 23
2.4.2 The Importance of BA with New Sources of Data 24
Discussion Questions 26
Chapter 3: What Resource Considerations Are Important to
Support Business Analytics? 29
3.1 Introduction 29
3.2 Business Analytics Personnel 30
3.3 Business Analytics Data 33
3.3.1 Categorizing Data 33
3.3.2 Data Issues 35
3.4 Business Analytics Technology 36
Discussion Questions 41
PART III: HOW CAN BUSINESS ANALYTICS BE APPLIED 43
Chapter 4: How Do We Align Resources to Support Business Analytics within an Organization? 45
4.1 Organization Structures Aligning Business Analytics 45
4.1.1 Organization Structures 46
4.1.2 Teams 51
4.2 Management Issues 54
4.2.1 Establishing an Information Policy 54
4.2.2 Outsourcing Business Analytics 55
4.2.3 Ensuring Data Quality 56
4.2.4 Measuring Business Analytics Contribution 58
4.2.5 Managing Change 58
Discussion Questions 61
References . 61
Chapter 5: What Are Descriptive Analytics? 63
5.1 Introduction 63
5.2 Visualizing and Exploring Data 64
5.3 Descriptive Statistics 67
5.4 Sampling and Estimation 72
5.4.1 Sampling Methods 73
5.4.2 Sampling Estimation 76
5.5 Introduction to Probability Distributions 78
5.6 Marketing/Planning Case Study Example: Descriptive Analytics Step in the BA Process 80
5.6.1 Case Study Background 81
5.6.2 Descriptive Analytics Analysis 82
Discussion Questions 91
Chapter 6: What