logo

Introduction to Business Analytics

8 Pages1998 Words26 Views
   

Added on  2021-02-19

Introduction to Business Analytics

   Added on 2021-02-19

ShareRelated Documents
BUSINESS ANALYTICS
Introduction to Business Analytics_1
Table of ContentsINTRODUCTION................................................................................................................................3QUESTION 1.......................................................................................................................................3a) Investigation of report based upon overall features.....................................................................3QUESTION 2.......................................................................................................................................4a) Example of effective use of regression analysis..........................................................................4b) Practical ......................................................................................................................................4c) Scatter Plot...................................................................................................................................5d) Equation of Regression Line.......................................................................................................55. R 2 value......................................................................................................................................5Analytic Tool...................................................................................................................................5QUESTION 3.......................................................................................................................................6a) Difference between classification & Prediction..........................................................................6b) Examples of Classification methods...........................................................................................6c) Neural Networks..........................................................................................................................6d) Three Examples of Clustering.....................................................................................................6CONCLUSION....................................................................................................................................7REFERENCES.....................................................................................................................................8
Introduction to Business Analytics_2
INTRODUCTIONBusiness Analytics includes use of different skills, technologies and practices in order toinvestigate & explore past performance of a business. This is important for business organisations indecision making. This report gives overall information included in Insight report and explain use ofthat insight report in decision making. Further, this report elaborate relationship among differentvariables by using regression analysis. At last, this report shows use of classification and regressionin Business Analytics.QUESTION 1a) Investigation of report based upon overall featuresThis Insight Report of CommBank present all the relevant data by using graphs and tableswhich is beneficial for companies. This report includes qualitative information related to Innovationperformance, innovation behaviours of retailers, proportion in which different factors driveinnovation. Benefits of innovation in improvement of different areas are discussed in this report inquantitative terms. Further, information related to investment in different functional areas of retailsectors and various areas in which investment n technology is being done are elaborated in thisreport. At last, percentage of return generated by CommBank with the implementation oftechnology is explained in this report through graph.b) Key information derived from report and usefulness of information in decision makingThis insight report of CommBank Retail Business list out following information-Innovation PerformanceInnovation Performance of CommBank shows that a business organisation cannot notgenerate overall profits from Innovation retail channels which offers all of their services with onlineplatform are not gaining much profits Thus, with this business organisations make policies ofproviding both online & offline services to customers according to requirement of area. Further,This information is useful as with these managers are able to chose area in which implementation ofinnovation and offerings of online services are not effective. For Example- Insight report 71%multichannel retailers are innovation active than managers make decisions of organising variousprogrammes for retailer so more number of retail organisations become actively use innovationtechniques(Vidgen, Shaw and Grant, 2017). Dynamics of InformationIt is find out from Insight Report of CommBank that less number of retailers are willing toinvest capital & time in implementing innovations and they are not ready to take risk. Further,retailers are not able to hire & retain talented and technically skilled employers at work lace. Thisinformation is useful in decision making as with this companies in retail sector make decisionsrelated to improvement in selection process and conduct training & development programmes foremployees so that they can learn innovative techniques.Drivers of Innovations are productivity, leveraging, technology and growth without thesefactors a retail business cannot grow in long run. Hence, this information is important as with thisCommBank make decisions related to formulation of different ideas which enhances productivityand performance of company. Further, managers of bank monitor changes in technology and makedecision of adapting most efficient & effective technology at work place. With information ofleveraging managers are able assess capital requirement and make investment & capital decisions.Investment in InnovationInnovation Investment in Sales & Marketing function of CommBank is more effective
Introduction to Business Analytics_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
CommBank Retail Business Insights PDF
|10
|2698
|162

Business Analytics
|9
|1212
|387

Question one. i). Quality visualization. Commbank busin
|8
|1662
|5

Insights from Commbank Retail Report
|8
|2002
|23

Business Analytics Assignment 3
|9
|982
|100

CommBank Retail Business Insights Report FYI18
|8
|2051
|40