Description:

Business Analytics refers to various categories of analytical approaches for modelling different business situations and arriving at solutions and strategies for optimal decision-making in marketing, finance, operations, organizational behaviour  and  other  managerial  processes. Thus, Business Analytics today refers to different approaches for modelling and arriving at assessing and predicting risk, predicting market preferences, project feasibility, customer segmentation, inherent and underlying dimensions in consumer preferences, factors leading to probability of purchase, preferred segments in financial and credit card industry,  probability  of  attrition  in  large  organizations,  etc.

The myriad of modelling and other analytical approaches which constitute Business Analytical applications in Indian Industry  today  include  predominantly:

• Determining which attributes in a product are considered significant by the market and which are found to be significantly  satisfactory—Gap  Analysis.
• Analytical  Modelling by Factor and Cluster Analysis.
• Analytical  Modelling by Logistics Regression and Discriminant Analysis.
• Segmentation of primary target market by Heuristic Modelling such as  RFM (recency, frequency, monetary) analysis.
• Segmentation of  target market based on large databases  using Decision Tree approaches such as CHAID (Chi-square Automatic  Interaction  Detection)  and  other  Classification  and  Regression  Trees.
• Determining Linkages between unobserved constructs such as customer satisfaction and factors leading to it, using Structural  Equation  Modelling  (SEM).
• Determining relative preferences in consumer perceptions by Conjoint Analysis.

In this book, the author has discussed these analytical approaches following a classroom teaching format, drawing from her extensive teaching experience spanning over 30 years. The book first discusses all important concepts and then case studies  are  discussed  which  emulate  real-life  managerial  situations.

This textbook is designed to serve the needs of management students for a course in Business Analytics.