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Data, Data Types, and Descriptive Statistics
內容大綱
This book is about Business Analytics (BA)-an emerging area in modern business decision making. The first part provides an overview of the field of Business Intelligence (BI), which uses historical data to better understand and thereby improve business performance, as well as create new strategic opportunities for growth. Business analytics (BA) is about anticipated future trends of the key performance indicators used to automate and optimize business processes. The three major categories of business analytics-the descriptive, predictive, and prescriptive analytics along with advanced analytics tools are explained. The flow diagrams outlining the tools of each of the descriptive, predictive, and prescriptive analytics are presented. We also describe various terms related to business analytics. The second part of the book is about descriptive analytics and its applications. It discusses Data, Data Types and Descriptive Statistics, Data Visualization, Data Visualization with Big Data, Basic Analytics Tools: Describing Data Numerically-Concepts and Computer Applications. Finally, it presents an overview and a case on descriptive statistics with applications and notes on implementation. Statistics is the science and art of making decision using data. Almost every field uses data and statistics to learn about systems and their processes. In fields such as business, research, health care, and engineering, a vast amount of raw data are collected and warehoused rapidly. Data and statistical tools aid in gaining skills such as: (1) Collecting, describing, analyzing, and interpreting data for intelÂligent decision-making (2) realizing that variation is an integral part of data and almost all data show variation (3) understanding the nature and pattern of variability of a phenomenon in the data, and (4) being able to measure reliability of the population parameters from which the sample data are collected to draw valid inferences.