DADS403 BUSINESS ANALYTICS

Description

SESSION	FEB-MARCH 2025
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DADS403 BUSINESS ANALYTICS

 

 

Assignment Set – 1

 

 

Q1. What are Business Analytics? Discuss the role of Business Analytics in various Domains of Business. 2 + 8           

Ans 1.

Business Analytics

Business Analytics (BA) refers to the use of data, statistical analysis, and predictive modeling to drive decision-making and strategic planning in an organization. It involves extracting useful insights from structured and unstructured data using tools, technologies, and processes. The goal of business analytics is to enable organizations to make data-driven decisions that improve operational efficiency, increase profitability, and gain a competitive advantage.

Core Components of

 

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Q2.A. Discuss one purpose of using Conjoint analysis in detail.

2.B. Explain the following terms and how they are calculated:

TRP

GRP   5 + 5   

Ans 2.

1. Purpose of Using Conjoint Analysis

Conjoint Analysis

Conjoint analysis is a statistical research method used primarily in marketing to understand consumer preferences. It simulates real-world buying situations where customers evaluate products or services based on various combinations of features. Participants are shown different sets of product profiles and asked to choose their preferred option, enabling researchers to identify which attributes drive customer choices the most.

Purpose of Conjoint

 

Q3. Discuss MDS and Perceptual Map in detail.   10       

Ans 3.

Multidimensional Scaling (MDS)

Multidimensional Scaling (MDS) is a statistical technique used to visualize the level of similarity or dissimilarity between objects or brands. In business and marketing, MDS helps understand consumer perceptions by mapping out the mental distances between various products or companies. It transforms complex relational data into a visual map, where similar items appear closer together, and dissimilar items are farther apart.

Application of MDS in

 

 

Assignment Set – 2

 

 

Q4. What is the Propensity Model?  Briefly discuss different types of Propensity Models.      

Ans 4.

Propensity Model

A propensity model is a statistical technique used to predict the likelihood or probability of a specific behavior or event occurring based on historical data. This predictive modeling method helps businesses identify which customers are more likely to take a particular action, such as making a purchase, responding to a campaign, or canceling a subscription. Propensity models are commonly

 

Q5. Briefly discuss any five Digital Marketing techniques.           10       

Ans 5.

Five Digital Marketing Techniques

Digital marketing involves promoting products and services using digital platforms, including the internet, social media, search engines, email, and mobile apps. With the rapid growth of online users, digital marketing has become a crucial component of every business strategy. Effective digital marketing relies on techniques that improve visibility, engagement, and conversion

 

 

 

Q6. Elaborate RPA. Discuss the 5-step implementation approach of RPA         2 + 8   

Ans 6.

RPA

Robotic Process Automation (RPA) refers to the use of software robots or “bots” to automate repetitive, rule-based tasks that were previously performed by humans. RPA technologies are designed to mimic human actions in interacting with digital systems. These bots can log into applications, enter data, perform calculations, and process transactions, thereby improving operational efficiency and reducing human error.

Benefits of RPA

RPA offers several advantages, including reduced operational costs, increased speed and accuracy,