What subjects to expect to be taught in business analytics courses?

Business analytics is an amalgamation of business intelligence, computer programming and data analytics. The science is to analyze data that is gathered in large quantities to figure out patterns which will assist organizations in coming up with strategies. The uses for business analytics can be found in nearly every industry. 

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Framing the business problem

Before getting into analysis, students are taught that reason behind the analysis. It is important to understand what is the problem statement before getting into coming up with a solution. For this, analysts need to understand what goals the organization is trying to achieve in the first place. Recognizing the business problem is taught in this course. 

Framing the analytic problem

Once the problem is identified, then it needs to be reformulated into an analytics problem with a ready number or factors, the relationship between those factors and the expected output. 

Using gathered data

Within the large amount of data that is gathered, you will learn how to identify what is relevant and what needs to be picked out. You find its source, learn to clean it and make it ready for further analysis. The relationship between the data is also found out which needs to be reported. 

Selecting the suitable method and learning to build models

You will also be trained in how to use the data that you have segregated to gain useful insights. For this, you will have to select the most suitable method for analysis. What analysis is to be performed depends on the nature of your data. You will be taught how to create models and even compare those models. 

Deploying your model

Once the model is ready and selected, the validity of the same needs to be checked in order to obtain right predictions. The model that you finalize on should be able to analyze whenever there is new data fed into it. It needs to be deployed and monitored constantly to keep tabs on accuracy. 

Business Analytics Course

Types of analytics that will be taught

  • Descriptive analytics – the course teaches this method which helps in describing raw data in order to convert it into a more understandable form. 

  • Predictive analytics – forecasting techniques are taught here to come up with statistical models to figure out what will happen in the upcoming future. Predicting future events will help companies take necessary steps to brace for what is to come.

  • Prescriptive analytics - simulation and optimization of algorithms is done here to provide advice and find out positive outcomes. Best case scenarios are put forth so all possible solutions are looked into before selecting any one form of action to tackle a problem. 

Overall contents of the course will include building a strong foundation from the basics of data analytics to applied statistics. Programming languages will also be taught to utilize tools along with big data analytics. Industry applications, along with interesting topics such as AI (artificial intelligence) and machine learning will be covered as well. 

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Every industry out there from retail, healthcare, e-commerce to financial services could use a data analyst. They are looking for competent analysts who can contribute to their business’s growth. Business analytics course will help you build the right foundation to get into this field. 

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