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Data Analytics Basics for Business Students

The lecture notes cover the fundamentals of data analytics for business students, including definitions, types, and sources of data. Key topics include data cleaning techniques, visualization tools, and the importance of context in data interpretation. Practical business use cases such as demand forecasting, inventory optimization, and customer segmentation are also discussed.

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Pratik Shukla
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2 views1 page

Data Analytics Basics for Business Students

The lecture notes cover the fundamentals of data analytics for business students, including definitions, types, and sources of data. Key topics include data cleaning techniques, visualization tools, and the importance of context in data interpretation. Practical business use cases such as demand forecasting, inventory optimization, and customer segmentation are also discussed.

Uploaded by

Pratik Shukla
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Basics of Data Analytics for Business Students – Lecture Notes

Week 1: Introduction to Analytics


- Definition: Data Analytics involves collecting, cleaning, transforming, and modeling data to discover insigh
- Types: Descriptive, Diagnostic, Predictive, Prescriptive Analytics.

Week 2: Data Sources & Cleaning


- Internal: ERP, CRM, POS systems.
- External: Market data, social media, sensors.
- Common Cleaning Techniques: Removing duplicates, standardizing formats, dealing with missing data.

Week 3: Visualization and Interpretation


- Tools: Power BI, Tableau, Excel.
- Choosing the right chart:
- Line: Trend
- Bar: Comparison
- Pie: Proportion
- Scatter: Correlation
- Avoid bias: Always check data context before drawing conclusions.

Week 4: Business Use Cases


- Retail: Demand forecasting using regression.
- Supply Chain: Inventory optimization via simulation.
- Marketing: Customer segmentation through clustering.

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