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AcademyForDecisionScience&Analyt's Blog (5)

Data Analytics in India

Data Analytics is a process of summarizing data with the intent to extract predictive information and develop conclusions from the data and using it for making strategic decisions and operational policies. A huge demand for data analysis services in India generates ample earning opportunities to companies which are offering data analysis services.



Data analytics in India is extensively used in Banking and Financial sectors. Data mining and data analysis being carried out by BPO…

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Added by AcademyForDecisionScience&Analyt on October 29, 2012 at 8:13pm — No Comments

Science of Analytics

Analytics is not just pure science; it is part art as well. Organizations that master the fine art of using analytical tools realize increased revenues and enjoy cost savings.

The scientific approach involves the following four key steps:

  • Observe/define the business problem: Observation is either an activity consisting of receiving knowledge, or the recording of data using scientific instruments. The term may also refer to any data collected during this…
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Added by AcademyForDecisionScience&Analyt on October 29, 2012 at 7:50pm — No Comments

History of Analytics

Educating savvy and business-minded Indians on the importance of numbers and analytics in your business is like teaching the properties of sand to someone in the desert, but here is my effort anyway.

The simplest definition of analytics is "the science of analysis." However, a practical definition would be how an entity, e.g., a business, arrives at an optimal or realistic decision based on existing data. Business managers may choose to make decisions based on past experiences or…

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Added by AcademyForDecisionScience&Analyt on October 29, 2012 at 7:30pm — No Comments

Application of Analytics

Author: Rahul Nawab, Co- founder, IQR Analytics and Promoter, ADSA (Academy for Decision Science and Analytics).

In this article we will talk about some of the successful applications of analytics. We will start with 2 different examples which I was reading recently from a podcast of Accenture and then move to some of the other industrial examples.

1.     Harrah’s Entertainment

 

Gary Loveman, CEO of Harrah’s, was presenting at an…

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Added by AcademyForDecisionScience&Analyt on October 28, 2012 at 11:15pm — No Comments

Data Analytics in Business

Today Analytics is the heart of a Business. Companies are challenged with a high volume and broad array of data which requires active and effective analysis. Analysis can help them make enhanced and improved business decisions, and hence help the business to maintain profitability. "Companies need to compete on the basis of key business processes, and how they optimize these processes with analytics," says Thomas Davenport, professor and director of research, Babson College, USA. Business…

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Added by AcademyForDecisionScience&Analyt on August 16, 2012 at 1:40am — No Comments

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