From the course: Business Analytics Foundations: Descriptive, Exploratory, and Explanatory Analytics

Business analytics process

From the course: Business Analytics Foundations: Descriptive, Exploratory, and Explanatory Analytics

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Business analytics process

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- [Instructor] Let us look at how business analytics processes work inside an organization. An organization has multiple data sources. There are data files or databases that capture enterprise data, there is data captured from the internet like key words, and trending items from social media. There is also data captured from mobile devices. All these data elements, are first captured or acquired, and then fed into a data transport system. The data transport system, is a data bus that can contain multiple technologies to reliably transport data from the sources to the central data center. The data is stored in data repositories inside the center. It then goes through an iterative process of cleaning, filtering, and transformation, to become ready for analytics purposes. This is then stored again in the central repository. There are analytics products that will run on top of the transformed data, and provide users and analyst with reports, dashboards, and exploratory capabilities. This data then will be the source for machine learning. Data scientists build machine learning models, based on this data. The findings of all analytics leads to prescriptions for the business. They are then taken up by executives, and converted into business actions and implemented for improvements.

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