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Excel Data Analysis for Decision Making

The document discusses data analytics and decision making. It outlines the stages of data analytics including business problem identification, data acquisition, data exploration, model building, and more. Decision making approaches and the decision making process are also examined.

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Fahad Parvez
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33 views1 page

Excel Data Analysis for Decision Making

The document discusses data analytics and decision making. It outlines the stages of data analytics including business problem identification, data acquisition, data exploration, model building, and more. Decision making approaches and the decision making process are also examined.

Uploaded by

Fahad Parvez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Data Analysis with Excel (10/02/2020)

Data Analytics: -

Data Analytics is a combination process to extract information from database which can be useful for
decision making to improve business.

Decision Making approaches (3 type): -

Tradition

Intuition

Right thumb rule

Decision making process (step): -

1. Identify the business problem & decision to be taken


2. Gather data, critical or metric of success/failures
3. Determine the set of alternative decision
4. Evaluate alternative & weight
5. Chose right alternative
6. Taken action
7. Review decision and consequences

Stages for data analytics (step by step process) : -

Analysis process have following stages: -

1. Business problem
2. Data acquisition
3. Data wrangling & exploration
4. Exploratory data analysis
5. Model building

1. Business problem
 What are my potential customer?
 Why my sales are going down or how can I improve my sales

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