Analytics Drives Business Intelligence

Question 1

Business intelligence

Answer 1

Information that results from the processing of operational data to create information. It exposes patterns, relationships, and trends of importance to an organisation

Question 2

Business analytics

Answer 2

Business analytics is the use of data, information technology, statistical techniques, and quantitative models, to help managers build their understanding of business operations. It supports them to take improved, informed decisions. Insights derived from analytics, ensure industries and businesses spot new opportunities, and uncover hidden connections.

Question 3

Relationship between business intelligence & business analytics

Answer 3

The application of business analytics to operational data generates business intelligence

Question 4

3 forms of business analytics

Answer 4

Descriptive analytics
Predictive analytics
Prescriptive analytics

Question 5

Descriptive analytics

Answer 5

The use of data to understand past and current business performance and to make informed decisions.

Question 6

Predictive analytics

Answer 6

Analysis of past performance in an effort to predict the future. Done by examining historical data, detecting patterns or relationships in these data (i.e. creating a “model”), and then extrapolating these relationships forward in time.

Question 7

Prescriptive analytics

Answer 7

Using a model where the output of the model can be optimised (maximised) by adjusting the input alternatives, so “prescribing” what the best decision is.

Question 8

Learning analytics

Answer 8

The measurement, collection, analysis and reporting of data about learners and their contexts, for purposes of understanding and optimising learning and the environments in which it occurs.

Question 9

Examples of the types of applications that can result from Educational data mining:

Answer 9

Analysis and visualisation of data (e.g. Grades and test scores)

Feedback for instructors (e.g. Student and teacher surveys)

Tracking tools in learning management systems (such as Canvas)

Question 10

4 predictive analytics

Answer 10

Social Network Analysis
Discourse analytics
Social learning analytics
Disposition analytics

Question 11

Social network analysis

Answer 11

the mapping and measuring of relationships and flows between people, groups, organizations, computers, URLs, and other connected information/knowledge entities. SNA provides both a visual and a mathematical analysis of human relationships.

Question 12

Discourse analytics

Answer 12

• Discourse analytics aims to capture meaningful data on student interactions which (unlike ‘social network analytics’) aims to explore the properties of the language used, as opposed to just the network of interactions, or forum-post counts, etc.

Question 13

Social learning analytics

Answer 13

is aimed at exploring the role of social interaction in learning, the importance of learning networks, discourse used to sensemake, etc.

Question 14

Disposition analytics

Answer 14

seeks to capture data regarding student’s dispositions to their own learning, and the relationship of these to their learning. For example, “curious” learners may be more inclined to ask questions - and this data can be captured and analysed for learning analytics.

Question 15

Analytics using spreadsheets

Answer 15

The Spreadsheet is a powerful tool that can be employed to analyse tables of business data, employing Business Analytics techniques.

Question 16

Advantages of spreadsheets

Answer 16

They allow employees to manipulate data, and develop and solve models that support business data analysis MANIPULATE
They support powerful commercial add-ins ADD INS
They provide many means for visualising data and communicating the results of analysis VISUALISING
They are widely used to support decision making in areas such as marketing, finance, and business operations DECISION MAKING

Question 17

4 powerful excel tools

Answer 17

Sequence (business process steps)
Iteration (repeat a sequence of steps a given number of times)
Selection
Search, sort and filter (Compare and Contrast)

Question 18

Selection tools

Answer 18

IF
COUNTIF
SUMIF

Question 19

IF

Answer 19

(condition, value if true, value if false) – a logical function that return one value if the condition is true and another if the condition is false

Question 20

COUNTIF

Answer 20

COUNTIF (range) – finds the number of cells within a range that meets a specified criterion

Question 21

SUMIF

Answer 21

(range, criteria, sum_range) - sums the values in a range (sum_range) where the values in an associated range (range) meet a criteria (criteria) that has been specified.