Data Science

Data Science

Price : ₹11,000.00

Offer Price : Contact for Price

Estimated Hours : 30 HOURS

Overview

Data Analytics is the science of analyzing data to convert information to useful knowledge which enables us to make better decisions. Major Concepts of Analytics are classified as Descriptive, Predictive and Prescriptive which are progressive and complementary. Reports, Scorecards and Dashboards have delivered descriptive analytics and led to Predictive Analysis. Referred to as the \"final frontier of analytic capabilities\", Prescriptive analytics automatically synthesizes big data, multiple disciplines of mathematical sciences and computational sciences, and business rules, to make predictions and then suggests decision options to take advantage of the predictions.

Objective

The course is designed to provide in-depth knowledge of handling data and how to use tools that can be used for problem solving and decision making. At the end of the course, you will be able to :

  • Understand the emergence of Business Analytics as a competitive strategy.
  • Learn various analytics technologies
  • Understand the foundations of data science; the role of descriptive, predictive and prescriptive analytics in companies.
  • Analyze data using statistical and data-mining techniques and understand relationships between the underlying business processes of an organization.
  • Learn decision-making tools
  • Use analytics in customer requirement analysis, general management, marketing, finance, operations and supply chain management.
  • Analyze and solve problems from different industries such as manufacturing, product development, service, retail, software, banking and finance

Audience

  • Corporate managers and executives.
  • Accounting and financial analysts.
  • Business analysts.
  • Project managers.
  • Finance professionals.
  • Operations professionals.
  • Supply chain and manufacturing quality professionals.
  • Customer service professionals.
  • Government, Non profit, and NGO professionals.

Prerequisites

  • Basics of Data Management.
  • Familiarity with Data Warehousing.
  • Big Data Technology.

Benefits

In conclusion we have seen that there is a myriad of benefits to prescriptive analytics. The most pertinent of them being:

  • Reduced risk as data driven decisions are made which enhances accuracy of decisions
  • Increased revenue as a result of optimization of processes which minimize cost and maximises profit
  • Increased efficiencies since issues within a process can be identified faster and actions are recommended to improve the process
  • By harnessing prescriptive analytics to provide better insights, businesses can achieve higher levels of productivity and profitability in three key areas,\
  • Revenue Generation
  • Gross Margin Management
  • Expense Reduction