Business Analytics
Business Analytics is the use of: data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about their business operations and make better, fact-based decisions. It is the scientific process of transforming data into insight for making better decisions.
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The purpose of this website is to showcase various applications of business analytics. Through this we have put numerous projects we have completed on the website, defined the different parts of analytics and showed the real world application of analytics in football.
Descriptive Analytics
Predictive Analytics
Presecriptive Analytics
"The use of data to understand past and current business performance and make informed decisions." Descriptive analysis is the most commonly used of the three categories of data and is used to categorize, summarize, consolidate, classify, and characterize data. Includes data visualization, data queries, and statistics.
Predictive Analytics seeks to predict future events by looking at historical data, detecting patterns and relationships and data, then extrapolating this data to predict future events. Typically used to predict risk and relationships with data. Includes forecasting, modeling, and data mining.
Prescriptive analytics uses optimization to identify best alternatives to minimize or maximize some objective. Often used in areas such as operations, marketing, and finance. Encompassed through this course in optimization, simulation, and decision analysis methods.