Business Analytics Blogs

What is Machine Learning?

Posted by: RVS CAS | Business Analytics

Let us understand the above lines with a simple analogy: it's like a newborn baby with a general human-like feature who learns everything through experiences and mistakes. With time, he becomes so much so he starts making all his decisions on his own.

In other words, "Machine learning as a discipline tries to design, understand and use computer programs that learn from experience (i.e. DATA) for the purpose of modelling, prediction, or control".

What is Business Analytics?

Posted by: Yamini.S | Business Analytics

Business Analytics is the most important skill in the 21st century. There will be enormous growth in the future, and this skill is already in demand. As technology penetrates every sector and every department within organizations, a lot of data is generated. So, the need for professionals who can collect, interpret, and analyze that information is skyrocketing.

Applications of Chi-Square Test – Sports Analytics

Posted by: Dilip D | Business Analytics

A Chi-square test is any statistical hypothesis test where the sampling distribution of the test statistics is a chi-squared distribution when the null hypothesis is true. Chi-square is a versatile test used as a non-parametric and a parametric measure. Chi-square test is an approximate test for large values of n.

Application of Statistics in Business

Posted by: Dilip D | Business Analytics

The field of statistics has numerous applications in business. Because of technological advancements, large amounts of data are generated by business these days. These data are now being used to make decisions. These better decisions we make help us improve the running of a department, a company, or the entire economy.
As per Philip Kotler and Gary Armstrong, marketing “ identifies customer needs and wants , determine which target markets the organisations can serve best, and designs appropriate products, services and Programs to serve these markets”

Business Analytics (BA) – A Tool for Business Excellence

Posted by: Dr. Tamilselvi | Business Analytics

Business Intelligence (BI) is the process of collecting information from different sources and preparing Business Reports, dashboards, scorecards, ad hoc queries, and automated alerts. It is the first step for companies to make data-driven decisions. Business Analytics (BA) starts with the analysis of the BI report through statistical analysis and data mining, extends to predictive model building with historical data, and further validates it with model testing.

Multivariate Statistical Techniques

Posted by: Dilip D | Business Analytics

Multivariate analysis (MVA) is based on the statistical principle of multivariate statistics, which involves observation and analysis of more than one statistical outcome variable at a time. In design and analysis, the technique is used to perform trade studies across multiple dimensions while considering the effects of all variables on the responses of interest.

Why is data visualization important, and how it helps businesses to make smarter decisions?

Posted by: Dr. Tamilselvi | Business Analytics

Data Visualization is an important component and a perfect procedure for the accomplishment of an organization’s success in today’s uncertain market. Visualizing data using the right methods can provide insights that the decision-makers can incorporate into their decision-making pipeline in order to make informed decisions that are driven by data.