Analytics is the process to manage data and support decision-making in operations. An analytics course would equip the students with the skill needed to make a rewarding career in the field. They would get familiar with SAS programming language, hypothesis testing, data preparation and predictive modeling techniques.
Analytics has now become integral feature of business processes. It is a defining feature of business intelligence, with analytics tools being increasingly used to tackle daily problems and opportunities. The tools are used at all operating levels – sales managers, product managers, researchers, marketers and engineers.
Business analytics is defined as the scientific process of analyzing data and bringing out business insights from the same. Analytics is several steps forward from BI (business intelligence) allowing the executives to monitor the assumptions and key performance metrics.
Modern organizations deploy analytics to manage data and operations and support decision-making. Analytics professionals, equipped with quantitative skills needed for the converging fields of information technology and business analytics, are involved in data analysis and decision support.
People keen on making a career in business analytics need to enroll themselves in an analytics training program that would equip them with the skill set required. A typical analytics course would involve modules like Introduction to business analytics, Fundamentals of SAS programming language, Univariate statistics, Hypothesis testing and ANOVA to guide decision making, Data preparation and cleaning and Predictive modelling techniques. The program would conclude with simulation of an analytics project.
Students would learn about the various applications of analytics and get to terms with the analytics cycle. They learn to manage and manipulate data and datasets, and use SAS programming language to work with data. An important topic they get introduced to is the creation of hypothesis, test and validate it through data within a statistical framework.
Analytics professionals are tasked with coming with clear and formal numbers to support decision making. Real world data is rarely clear, which means the professionals should be ready to deal with missing data points, incorrect data and variables needing to be changed. They will need to spend a good part of their time on data preparation for analysis. It would make for more accurate and stable analysis.
Predictive modelling techniques include Correlation and linear regression, Logistic regression and Techniques of customer segmentation like K-means clustering. Statistical model makes the core of predictive analytics and regression is an effective tool for making prediction by analyzing data. Logistic regression is used to make predictions in cases that have outcomes dual in nature. Techniques of customer segmentation help statistically segregate a broad customer market into various segments.
Simulating an analytics project involves solving an actual business problem through analytics. Students are completely hands on and learn how they can use whatever they have learnt to solve a business problem using analytics. They are provided with several real world case studies to gain practical exposure. A top-of-the-line program will also essentially have review session to help students work on all the doubts they may have.
A certificate in business analytics would enable students to kick-start their career in the field. It is a rewarding field for capable professionals and if you have got a value-added certification, you can be reasonably sure of attaining success.
For analytics training, Mumbai a few expert-designed online courses. Anyone desirous of making a career may join a course and begin the offers journey of becoming an Analytics professional.