Foundations of strategic business analytics

Go to Course: https://www.coursera.org/learn/strategic-business-analytics

Introduction

**Course Review: Foundations of Strategic Business Analytics on Coursera** In the ever-evolving landscape of business, making data-driven decisions has become essential. Those looking to harness the power of data analytics for strategic business purposes will find "Foundations of Strategic Business Analytics" on Coursera an invaluable resource. Designed specifically for students, business analysts, and data scientists, this course equips you with the analytical tools needed to drive business success. ### Who is this course for? This course is perfect for individuals who possess a solid foundation in statistics and are familiar with R or other programming languages. Additionally, it is suited for experienced statisticians, analysts, engineers, or anyone looking to transition into a more business-oriented role. If you have a passion for transforming data into actionable insights, you will find the course both stimulating and rewarding. ### Course Overview **Module 1: Introduction to Strategic Business Analytics** The course begins with an introduction to the core skills necessary for strategic business analytics: IT, Analytics, Business, and Communication. You’ll gain insight into how these components intertwine to create a cohesive strategy for analyzing business situations. **Module 2: Finding Groups within Data** This module dives into the importance of identifying groups within data to enhance business efficiency. Through engaging examples and practical assessments, you will learn methods to create actionable groups of observations. This hands-on approach ensures that you not only understand the theory but can apply it in real-world scenarios. **Module 3: Factors Leading to Events** Understanding the relationships between different events is fundamental, and this module delivers on that front. With a focus on credit scoring and HR analytics, you’ll explore how statistical methods can derive insights into customer behavior and employee retention. The assessments within this module provide further reinforcement of these concepts, making it clear why rigorous statistical analysis is crucial in business contexts. **Module 4: Predictions and Forecasting** Forecasting is a key component of strategic decision-making, and this module addresses how to predict outcomes using historical data. By exploring various sectors and real-world examples, including survival analysis and supply chain management, you will come away with a deeper understanding of predictive analytics. This module encourages learners to think critically about future trends and how their businesses can adapt. **Module 5: Recommendation Production and Prioritization** The final module transitions into the art of storytelling with data. As you learn to present your findings effectively, you'll discover how to connect insights and recommendations in a way that resonates with your audience. This skill is critical for the capstone project and future endeavors where being able to communicate complex data clearly is essential. By the end of this module, you will have a solid grasp of how to structure your presentations and make compelling visualizations. ### Recommendation "Foundations of Strategic Business Analytics" is more than just a course; it is a comprehensive journey into the world of business analytics that combines theory with practical application. I highly recommend this course for anyone looking to deepen their understanding of analytics within a business context, especially if they already have a statistical background. The skills you will acquire from this course can enhance your career prospects and position you as a valuable asset within any organization. Whether you're looking to move into a business role or elevate your current position, this course will empower you with the knowledge and skills to drive impactful decisions using data. ### Conclusion In conclusion, if you're ready to take the next step towards mastering strategic business analytics, "Foundations of Strategic Business Analytics" on Coursera is an excellent choice. With detailed modules that cover essential topics, engaging assessments, and a focus on real-world applications, this course is poised to equip you with the tools necessary for success in a data-driven business environment. Don’t miss the chance to elevate your analytical skills and make a meaningful impact in your organization!

Syllabus

Introduction to Strategic Business Analytics

In this module, we will introduce you to the course and instructional approach. You will learn that Strategic Business Analytics relies on four distinct skills: IT, Analytics, Business and Communication.

In this module, you will learn how identifying groups of observations enables you to improve business efficiency. You will then learn to create those groups in a business-oriented and actionable way. We will use examples to illustrate various concepts. The assessments will also provide you with opportunities to replicate these examples.

In this module, you will learn why using rigorous statistical methods to understand the relationship between different events is crucial. We’ll cover two examples: first, using a credit scoring example, you will learn how to derive information about what makes an individual more or less likely to have a strong credit score? Then, in a second example drawn from HR Analytics, you will learn to estimate what makes an employee more or less likely to leave the company. As usual, we invite you to replicate those examples thanks to the recital and to use the assessments provided at the end of the module to strengthen your understanding of these concepts.

In this module you will learn more about the importance of forecasting the future. You will learn through examples from various sectors: first, using the previous examples of credit scoring and HR Analytics, you will learn to predict what will happen. Then, you will be introduced to predictive maintenance using survival analysis via a case discussion. Finally, we’ll discuss seasonality in the context of the first example discussed in this MOOC: using analytics for managing your supply chain and logistics better.

So far, you’ve learnt to use Business Analytics to glean important information relevant to the success of your business. In this module, you’ll learn more about how to present your Business Analytics work to a business audience. This module is also important for your final capstone project presentation.You’ll learn that it is important to find an angle, and tell a story.Instead of presenting a list of results that are not connected to each other, you will learn to take your audience by the hand and steer it to the recommendations you want to conclude on.You’ll learn to structure your story and your slides, and master the most used visualization tips and tricks. The assessment at the end of this module will provide an opportunity for you to practice these methods and to prepare the first step of the capstone project.