Types of Business Analytics (Descriptive, Predictive, and Prescriptive)

By the end of the video, students will be able to
1. Describe business analytics;
2. Differentiate business analytics from business intelligence;
3. Discuss the business analytics process or workflow;
4. Explain each type of business analytics, namely: descriptive, predictive, and prescriptive analytics;
5. Identify tools and techniques used in every type of business analytics, such as data aggregation, data mining, affinity analysis, OLAP, machine learning, deep learning, optimization, simulation, decision tree, and presentation tools; and
6. List down example real-life examples of each type of business analytics.

00:00 Introduction
00:13 Define Business Analytics
00:46 Difference between BA and BI
01:14 Tools used in Business Analytics
02:11 Business Analytics Process
04:26 Define Descriptive Analytics
04:41 Data Aggregation
04:56 Data Mining
05:15 Affinity Analysis
06:02 Online Analytical Processing (OLAP)
06:17 Pivot Table
06:25 Slice and Dice
06:41 Drill-down
06:55 Roll-up
07:07 Descriptive Analytics Application
07:47 Define Predictive Analytics
08:12 Data Mining
08:20 Linear Regression
08:32 Artificial Intelligence
08:42 Predictive Analytics Applications
09:35 Define Prescriptive Analytics
10:12 Optimization
10:21 Simulation
10:33 Decision Tree
10:47 Prescriptive Analytics Applications
11:45 Summary
12:09 References
12:17 Subscribe and More Videos
00:00 Introduction
00:13 Define Business Analytics
00:46 Difference between BA and BI
01:14 Tools used in Business Analytics
02:11 Business Analytics Process
04:26 Define Descriptive Analytics
04:41 Data Aggregation
04:56 Data Mining
05:15 Affinity Analysis
06:02 Online Analytical Processing (OLAP)
06:17 Pivot Table
06:25 Slice and Dice
06:41 Drill-down
06:55 Roll-up
07:07 Descriptive Analytics Application
07:47 Define Predictive Analytics
08:12 Data Mining
08:20 Linear Regression
08:32 Artificial Intelligence
08:42 Predictive Analytics Applications
09:35 Define Prescriptive Analytics
10:12 Optimization
10:21 Simulation
10:33 Decision Tree
10:47 Prescriptive Analytics Applications
11:45 Summary
12:09 References
12:17 Subscribe and More Videos

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References:
🔗 Calvello, M. (2020, January 28). What is Business Analytics and why you need it for Success. Learn Hub. Retrieved May 22, 2022, from learn.g2.com/business-analytics
🔗 Lumby, A. (2021, June 28). Data visualization definition and its importance. Master's in Data Science. Retrieved May 22, 2022, from www.mastersindatascience.org/resources/what-is-dat…
🔗 Rainer, R. K., Prince, B., Sanchez-Rodriguez, C., Hogeterp, I. S., & Ebrahimi, S. (2020). 12. In Introduction to information systems: Supporting and Transforming Business (Fifth Canadian Edition, pp. 364–389). essay, Wiley.
🔗 What is business analytics? definition and faqs. What is Business Analytics? Definition and FAQs | HEAVY.AI. (n.d.). Retrieved May 22, 2022, from www.heavy.ai/technical-glossary/business-analytics

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#BusinessAnalytics #DescriptiveAnalytics #PredictiveAnalytics #PrescriptiveAnalytics