A User's Guide to Business Analytics

A User’s Guide to Business Analytics Pdf

A User’s Guide to Business Analytics provides a comprehensive discussion of statistical methods useful to the business analyst. Methods are developed from a fairly basic level to accommodate readers who have limited training in the theory of statistics. A substantial number of case studies and numerical illustrations using the R-software package are provided for the benefit of motivated beginners who want to get a head start in analytics and for experts on the job who will benefit by using this text as a reference book.

The book is comprised of 12 chapters. The first chapter focuses on business analytics, along with its emergence and application, and sets up a context for the whole book. The next three chapters introduce R and provide a comprehensive discussion on descriptive analytics, including numerical data summarization and visual analytics. Chapters five through seven discuss set theory, definitions and counting rules, probability, random variables, and probability distributions, with several business scenario examples. These chapters lay down the foundation for predictive analytics and model building.

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Chapter eight deals with statistical inference and discusses the most common testing procedures. Chapters nine through twelve deal entirely with predictive analytics. The chapter on regression is quite extensive, dealing with model development and model complexity from a user’s perspective. A short chapter on tree-based methods puts forth the main application areas succinctly. The chapter on data mining is a good introduction to the most common machine learning algorithms. The last chapter highlights the role of different time series models in analytics. In all the chapters, the authors showcase several examples and case studies and provide user guidelines in the analytics field.

About the Book

Business analytics has been a popular field for several decades, but the past few years have seen an exponential increase in interest. This is due, in part, to the fact that business analytics is no longer just a tool used by large corporations with deep pockets. Instead, businesses of all sizes can now implement data-driven strategies because of technological advances and access to data.

While many books on business analytics are available today, this book differs because it is written by a practitioner who has used these tools in real-world situations. The author has also worked with many companies using these tools and shares his experiences with you throughout the book.

This book provides a complete overview of business analytics concepts and examples from actual companies to see how these concepts apply in practice.