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Description
| SESSION | FEBRUARY – MARCH 2024 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | IV |
| COURSE CODE & NAME | DADS403 – BUSINESS ANALYTICS |
Assignment Set – 1
- What is Business Analytics? Discuss the role of Business Analytics in various Domains of Business.
Ans 1.
Business Analytics
Business Analytics is a methodical exploration of an organization’s data, with an emphasis on statistical analysis. It is used by companies committed to making data-driven decisions. Business analytics is used to gain insights that inform business decisions and can be used to automate and optimize business processes. Data-driven companies treat their data as a corporate asset and leverage it for a competitive advantage. Successful business analytics depends on data quality
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- Discuss any one purpose of using Conjoint analysis in detail. Explain the following terms and how are they calculated:
a.TRP
- GRP
Ans 2.
Purpose of Conjoint Analysis
Conjoint analysis is a sophisticated research method used in market research to determine how people value different attributes (feature, function, benefits) that make up an individual product or service. The primary purpose of using conjoint analysis is to identify the optimal combination of a product’s attributes that influences consumer purchasing decisions. This analysis helps in understanding how
- Discuss MDS and Perceptual Map in detail.
Ans 3.
Multidimensional Scaling (MDS) and Perceptual Mapping
Multidimensional Scaling (MDS) and Perceptual Mapping are two powerful analytical techniques used in marketing research to understand consumer perceptions and preferences. Both methods provide visual representations of data to help businesses make strategic decisions, such as product positioning, market segmentation, and competitive analyses. While both tools are used to map out consumer perceptions, they differ in their approach and application.
Multidimensional Scaling (
Assignment Set – 2
- What is Propensity Model? Briefly discuss different types of Propensity Models. 2+8
Ans 4.
Propensity Modeling
Propensity modeling is a statistical approach used in predictive analytics to forecast the likelihood that a specific event will occur in the future. It involves using data about past behaviors to make informed predictions about future actions. This technique is extensively used in various industries such as marketing, finance, healthcare, and retail to enhance decision-making processes by anticipating customer behaviors, such as the likelihood of purchasing a product, churning
- Briefly discuss any five Digital Marketing techniques.
Ans 5.
Digital Marketing Techniques
Digital marketing encompasses a broad range of strategies and technologies used for promoting products and services through digital channels. As the digital landscape evolves, so do the techniques businesses use to engage customers, build brand awareness, and drive sales. In today’s highly competitive market, understanding and implementing effective digital marketing techniques is crucial for any business aiming to thrive online. Here are five pivotal digital marketing techniques
- Elaborate RPA. Discuss 5 step implementation approach of RPA
Ans 6.
Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is a technology application that allows organizations to automate routine tasks that are typically done by humans. RPA software robots emulate and integrate human actions within digital systems to execute a business process. They use the user interface to capture data and manipulate applications just like humans do. They interpret, trigger responses, and communicate with other systems in order to perform a vast variety of repetitive tasks. An RPA software robot never sleeps and makes zero mistakes. It is especially useful for