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Types of Business Analytics (Descriptive, Predictive, and Prescriptive)

By the end of the video, students will be able to 1. Describe business analytics; 2. Differentiate business analytics from business intelligence; 3. Discuss the business analytics process or workflow; 4. Explain each type of business analytics, namely: descriptive, predictive, and prescriptive analytics; 5. Identify tools and techniques used in every type of business analytics, such as data aggregation, data mining, affinity analysis, OLAP, machine learning, deep learning, optimization, simulation, decision tree, and presentation tools; and 6. List down example real-life examples of each type of business analytics. 00:00 Introduction 00:13 Define Business Analytics 00:46 Difference between BA and BI 01:14 Tools used in Business Analytics 02:11 Business Analytics Process 04:26 Define Descriptive Analytics 04:41 Data Aggregation 04:56 Data Mining 05:15 Affinity Analysis 06:02 Online Analytical Processing (OLAP) 06:17 Pivot Table 06:25 Slice and Dice 06:41 Drill-down 06:55 Roll-up 07:07 Descriptive Analytics Application 07:47 Define Predictive Analytics 08:12 Data Mining 08:20 Linear Regression 08:32 Artificial Intelligence 08:42 Predictive Analytics Applications 09:35 Define Prescriptive Analytics 10:12 Optimization 10:21 Simulation 10:33 Decision Tree 10:47 Prescriptive Analytics Applications 11:45 Summary 12:09 References 12:17 Subscribe and More Videos 00:00 Introduction 00:13 Define Business Analytics 00:46 Difference between BA and BI 01:14 Tools used in Business Analytics 02:11 Business Analytics Process 04:26 Define Descriptive Analytics 04:41 Data Aggregation 04:56 Data Mining 05:15 Affinity Analysis 06:02 Online Analytical Processing (OLAP) 06:17 Pivot Table 06:25 Slice and Dice 06:41 Drill-down 06:55 Roll-up 07:07 Descriptive Analytics Application 07:47 Define Predictive Analytics 08:12 Data Mining 08:20 Linear Regression 08:32 Artificial Intelligence 08:42 Predictive Analytics Applications 09:35 Define Prescriptive Analytics 10:12 Optimization 10:21 Simulation 10:33 Decision Tree 10:47 Prescriptive Analytics Applications 11:45 Summary 12:09 References 12:17 Subscribe and More Videos Related Videos: 📹 Basic Kinds of Management Information System (MIS) Reports -    • Basic Kinds of Management Information Syst...   📹 Threats to Information Systems (Unintentional and Deliberate Threats) -    • Threats to Information Systems (Unintentio...   📹 Roles of Information Systems to Organization’s Competitive Advantage -    • Michael Porter's Value Chain Model & Five-...   📹 Types of Information Systems -    • Types of Information Systems (TPS, MIS, an...   📹 Introduction to Information Systems -    • Introduction to Information Systems   📹 Enterprise-Wide Systems - CRM, ERP and SCM (Business Information Systems) -    • Enterprise Wide Systems - CRM, ERP and SCM...   References: 🔗 Calvello, M. (2020, January 28). What is Business Analytics and why you need it for Success. Learn Hub. Retrieved May 22, 2022, from https://learn.g2.com/business-analytics 🔗 Lumby, A. (2021, June 28). Data visualization definition and its importance. Master's in Data Science. Retrieved May 22, 2022, from https://www.mastersindatascience.org/... 🔗 Rainer, R. K., Prince, B., Sanchez-Rodriguez, C., Hogeterp, I. S., & Ebrahimi, S. (2020). 12. In Introduction to information systems: Supporting and Transforming Business (Fifth Canadian Edition, pp. 364–389). essay, Wiley. 🔗 What is business analytics? definition and faqs. What is Business Analytics? Definition and FAQs | HEAVY.AI. (n.d.). Retrieved May 22, 2022, from https://www.heavy.ai/technical-glossa... Please don't hesitate to ask your questions or write your feedback in the Comments section below. Please support by liking and subscribing to the 5-Minute Lessons by Victor channel. Click the Bell button to be notified when new videos are uploaded. Thank you! #BusinessAnalytics #DescriptiveAnalytics #PredictiveAnalytics #PrescriptiveAnalytics