Basic Business Analysis Using R [Analytical Decision-Making 2, Get real-time insights : Marketing analytics solution also needs to deliver real-time insights. It can not be effective if the information is outdated; tracking the right matrics atthe right time is key. 3, Perfect dashboard : While it may be tempting to track as many matrices as possible, marketing analytics will not be as useful if it does. Rather define the goals and measure the results for the use cases most important to business analyst 4. Choose the right analytics visualization : Marketing teams and stakeholders must be able to make something of the data, if you are to gain meaningful insight from it The Key is to choose the most appropriate data visualizations so you can find patterns and interpret the data. Thus, you can choose a marketing analytics solution that allows you to choose or customize your visualization instead of using default chart for displaying data. 5. Use a tool featuring machine learning and AI to predict and prescribe : Today ‘marketing is a real-time and predictive to be as an effective tool. You must be able to make accurate predictions, analyze the data, and make data-drive decisions to enhance each step of the customer. Marketing organizations have access to a lot of different analytic capabilities in support of various marketing goals, but if you are like most, you probably do not have all your bases covered. There is absolutely no real value in all the information, marketing analytics can give you unless you act on it. In a constant process of testing and learning, marketing analytics enables ‘you to improve your overall marketing program performance. For example, © Identifying channel deficiencies. © Adjusting strategies and tactics as needed. ‘© Optimizing processes. Gain customer insigh 2.8 HR Analytics (Human Resource Analytics) Definition : Human Resource Analytics is defined as, “the area in the field of analytics that deals with people analysis and applying analytical process to the human capital within the organization to improve employee performance and improve employee retention’ HR analytics does not collect data about how the employees are performing at work, instead, its sole aim is to provide better insight into each of the human resource processes by collection related data and then using this data to make informed decisions on how to improve these processes. 27Using R Anal Any business that can attract the right resources, manage talent acquis their resources to the optimum is setting a long term path for success. For this, every hy, 7 resource manager must know. 1. Employee churn : Employee churn analytic is the process of assessing your y_ force turnover rate. Employee chur analytics helps predict the future and reqy employee chun, 2. Capability : The success of any business to an extent depends on the leve| expertise of the employees and their skills. Capability analytics refers to the ta manegement process that helps you identify the core competencies of the we force. Employee chum ‘Organisational Characteristics of cuties ‘good human resource manager Capacity Leadership Fig.23, 3. Organizational culture : Organizational culture analytics is a process of assessin, ‘and understanding better the culture at workplace. When you know what is th culture of your organization, you can then evaluate and keep a track of the change: you might observe. Tracking culture changes help to understand the early signs i the culture is getting toxic. 4. Capacity + It is true that the capacity affects revenue. Capacity analytics has an aim to establish how operationally efficient is your workforce. The capacity analytics is also called as behavioural analysis that determines how much capacity they as individual have to grow. 5, Leadership : Leadership analytics analyses and unpacks various aspects of leadership performance at a workplace to uncover the good and bad. Data can be collected through qualitative research and quantitative research by using a mix of both methods like surveys polls, groups or research. 28lasic Business Analysis Using R ‘Analytical Decision-Making Data required by HR analytics tools HIS and core talent management systems Company | [Fistral] [Oreenzatonal] [Passive data financial data | | data_| | specific data | | rom employes} External data Employee] [ Employes |||" Employes Saal tonuto_| compensation] raining recows| | Pevornance, Tigh vas] [Dkepinary acon Reporing || hgh potential | | taken against an Za employees: employees: Fig.24 1. Internal data : Internal data specifically refers to data obtained from the HR ‘department of an organization, The core HR system contains several data points that can be fused for an HR analytics tool. Such the matrcs that an HRIS system contains includes : (a) Employee tenure. (b) Employee compensation. (c) Employee training records (@) Performance appraisal data. (e) Reporting structure. (Details on high-value, high-potential employees. (g)_ Details on any disciplinary action taken against an employee. Here, there is only challenge is that sometimes this data is disconnected and so may not, serve as a reliable measure, This is where the data scientists play a meaningful role. They can organize this scattered data and the relevant data points, which can then be used for the analytics tools. 2, External data : External data is obtained by establishing working relationships with other departments of the organization is also essential, as it offers a global perspective that working with data from within the organization cannot. (@ Financial data : Organization-wide financial data is key in any HR analysis to calculate, for instance, the revenue per employee or the cost of hire. (i) Organization - specific data : Depending on the type of organization and its core offering the type of data that HR needs to supplement analytics will vary. 29 —~ = = =<Basic Business Analysis Using R Anat Degg (iil) Passive data from employees : Employees continually provide data thay the HRS rom the moment they ae approached for job. Aditionally. data rom ‘ meta poss and shares nd from edhack sues can be se 1 ide HR da ag (iv) Historical data : Several global economic, politcal, or environmen) determines patterns in employees behaviour. Such data can offer insights tat into iad data cannot. HR Analytics Process : Understanding organizations business ‘Communicating how this data impacts the organization Identifying the matics tobe analyzed o Obtaining insights io the da Coezting an na te roan Fig. 2.5 2.8.1 Features of an HR Analytic Solution Answer key business questions Easy touse by lay persons Cloud-based Processes statistical analysis. ‘and machine learning technology Powered with Predictive analytics Powered with visualization technology ‘Subscription based Fi 1. They answer each of the business questions, 2. They are easy to use by individuals who are not data scientists, 3. They are cloud-based rather than on-primise, 4. They are powered with statistical analysis and machine learning technology. 230 Lei iBusiness Analysis Using R Analytical Decision-Making 5. They are based on predictive analytics. Analytics represents the ability to make data-driven decisions, based on a summary of relevant trusted data often using visualization in the form of graphs, charts and other means. Supply chain typically generate massive amounts of data. Supply chain analytics helps to make sense of all this data uncovering patterns and generating insights. Types of supply chain analytics Descriptive Predictve | [ Preserptve Copnive analiics anaiyics analytes analytics Fig.2.7 ‘There are four different types of supply chain analytics : (a) Descriptive Analyties : It provides visibility and a single source of truth across the supply chain for both internal and extemal system and data. (b) Predictive Analytics : It helps to organizations to understand the most likely outcome or future scenario and its business implications. (©) Prescriptive Analytics : Prescriptive analytics helps the organizations to solve the problems and collaborate fort’maximum business value. It helps businesses collaborate with logistic partners to reduce time and effort in mitigating disruptions. (@) Cognitive Analytics : Cognitive analytics helps an organization to answer the complex questions in natural language, in the way a person or team of people might respond to a question. It assists companies to think through a complex problem or issue. 2.9.1 Importance of Supply Chain Analytics 1. It increase the accuracy in planning by analyzing customer data. Supply chain analytics can help a business better predict future demand. 2. Supply chain analytics gain a significant return on investment. 3. Supply chain analytics can identify known risks and help to predict future risks by spotting patterns and trends throughout the supply chain, 4. Companies/Organizations can use supply chain analytics to monitor warehouse, Partner responses and customer needs for better informed decisions, 5. Companies/Organizations are now offering advanced analytics for supply chain management to prepare for future. 241Basic Business Analysis Using R 2.17 Sports CUE Sports analytics is a collection of relevant, historical statist cs that wh applied and can provide a co “4 petitive advantage toa team or individual OR Sports analytics is a collection of relevant, historical Statistics that whey applied, can provide a competitive advantage toa team or individual, Through the collection and analyzation of these data, Sports analytics infor Coaches and other staff in order to facilitate Aecision-making both duting ang sporting events, Popularized in mainstream sports culture, ' The use of sports analytics to build a Key Assets of Sports: The term “sports analytics” was competitive team as a minimal budget, Key aspects of Sports analtis Ofte analytics ‘analytics ‘There are two aspects of sports analytics: (a) On-field analytics, (b) Off-field analytics (2) On-field analyties: On field analytics deals with improving the on- of teams and players. It digs deep into aspects such as game tactics (©) Offfield analytes: Off.sietd analytes deals with the business side of spon Off-feld analytics focuses on helping a sport organization or body surface patterns and insights through data that Would help increase ticket and Merchandise sales, improve fan engagement etc. Off-field analytics essentially uses data to help right shoulders take decisions that ‘would lead to higher growth and increased profitability, AAs technology has advanced over the last number of years, ‘more in-depth and can be conducted with relative ease. Advancements in data collection have allowed for sports analytics to grow as well Teading to the development of advanced statistics as well sport specific technologies tha allow for thing like game simulation to be conducted by teams prior to play, improve fan ‘acquisition and marketing strategies, and even understand the impact of sponsorship on each team as its fans, The another significant impact of sports analytics is, it had on professional sports is in relation to sport gam! = field performance and player fitness data collection has become ~ —