This book is intended for readers with some prior knowledge of analytics and its potential to transform data-driven decision-making. The field of analytics encompasses a wide range of techniques and applications that enable organizations to extract insights from data and make informed decisions. This chapter begins with an introduction to the fundamental concepts of analytics, including what analytics is and why it is essential in today’s data-driven world. It then explores the role of analytics in decision-making, highlighting the game changers and innovators who have harnessed the power of analytics to drive significant improvements and innovations. Further sections delve into predictive analytics, discussing methods for predicting binary outcomes, and examining various predictive models such as decision trees. The chapter also provides insights from experts across different industries, including finance, manufacturing, healthcare, telecommunications, supply chain, digital analytics, and information technology. By the end of this chapter, readers will have a comprehensive understanding of the power and application of analytics, equipped with the foundational knowledge to delve deeper into specialized areas covered in subsequent chapters.

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Introduction to Analytics

  • Ramchandra S Mangrulkar,
  • Pallavi Vijay Chavan

摘要

This book is intended for readers with some prior knowledge of analytics and its potential to transform data-driven decision-making. The field of analytics encompasses a wide range of techniques and applications that enable organizations to extract insights from data and make informed decisions. This chapter begins with an introduction to the fundamental concepts of analytics, including what analytics is and why it is essential in today’s data-driven world. It then explores the role of analytics in decision-making, highlighting the game changers and innovators who have harnessed the power of analytics to drive significant improvements and innovations. Further sections delve into predictive analytics, discussing methods for predicting binary outcomes, and examining various predictive models such as decision trees. The chapter also provides insights from experts across different industries, including finance, manufacturing, healthcare, telecommunications, supply chain, digital analytics, and information technology. By the end of this chapter, readers will have a comprehensive understanding of the power and application of analytics, equipped with the foundational knowledge to delve deeper into specialized areas covered in subsequent chapters.