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How can CIOs Build Business Value with Business Analytics?

Smart Data Collective

Team Upskilling: Train business analysts on planning, gap analysis, scoping & blueprinting, cost-benefit calculation of new initiatives, solution architecture, modelling, elicitation, requirement management, performance management, and other improvement initiatives. It is growing at a CAGR of 23.0% and shall touch USD 65.4

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What is Multiple Linear Regression and How Can it be Helpful for Business Analysis?

Smarten

To better understand multiple linear regression, let’s look at one such analysis of independent variables: Temperature and Humidity, and a target variable (yield). How Can Multiple Linear Regression Be Helpful for Business Analysis? Use Case – 1. Use Case – 2.

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What is Spearman’s Rank Correlation and How is it Useful for Business Analysis?

Smarten

How is Spearman’s Rank Correlation Useful for Business Analysis? Business Problem: An educational organization wants to assess students’ rating, based on two different sources of observation. The closer this value is to 0, the weaker the relationship/association is between both variables. Use Case – 1.

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What is Frequent Pattern Mining (Association) and How Does it Support Business Analysis?

Smarten

How Does Frequent Pattern Mining Support Business Analysis? This method of analysis can be useful in evaluating data for various business functions and industries. Basket Data Analysis – To analyze the association of purchased items in a single basket or single purchase. Confidence (milk->bread) = 0.5

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What is the Paired Sample T Test and How is it Beneficial to Business Analysis?

Smarten

How is the Paired Sample T Test Beneficial to Business Analysis? This type of analysis can be useful in numerous situations. Marketing – Have sales increased following a particular campaign? Let’s look at two use cases to better understand the benefit of this technique in business analysis.

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What is Advanced Analytics and What Are the Benefits of Advanced Analytics?

Smarten

Many businesses are just discovering the benefits of self-serve business intelligence and establishing data democratization initiatives but, as every business manager and team member knows, business markets and competition move rapidly and yesterday’s business intelligence initiatives are morphing into advanced analytics efforts.

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What is the Chi Square Test of Association and How Can it be Used for Analysis?

Smarten

This analytical technique can be used for numerous purposes. Marketing / Market Research – To determine if certain types of products sell better in certain geographic locations than others, and to verify if gender has an influence on purchasing decisions. Use Case – 1. Use Case – 2.

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