DBB3102 BUSINESS ANALYTICS BBA 5

Description

 

SESSION	june/july 2023
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	V
course CODE & NAME	DBB3102 – bUSINESS ANALYTICS
CREDITS	4
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

 

Assignment Set – 1

 

1. Describe how Business Analytics can help an organization improve its operational efficiency. 10

Ans 1.

Business Analytics plays a critical role in helping organizations enhance their operational efficiency by leveraging data-driven insights to optimize processes, identify bottlenecks, and make informed decisions. In today’s competitive business landscape, organizations are constantly seeking ways to improve their operational efficiency to reduce costs, enhance customer satisfaction, and stay ahead of their competitors. Business Analytics provides the

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2. How can data updating ensure the accuracy and reliability of data?

Ans 2.

Data updating is a crucial process that helps ensure the accuracy and reliability of data within an organization’s systems. As data is constantly generated, modified, and used in various business processes, it’s essential to have mechanisms in place to keep the data accurate and up-to-date. Data updating involves both proactive measures to maintain data quality and reactive measures to correct errors and inconsistencies. Here’s how data updating contributes to data accuracy and reliability:

 

 

3. Discuss how mobile and location-based Market Basket Analysis could be used in the future. 10

Ans 3.

Mobile and Location-Based Market Basket Analysis: Unveiling Future Possibilities

In today’s technologically driven world, businesses are constantly seeking innovative ways to gather insights and enhance their decision-making processes. One of the emerging trends in this arena is the utilization of mobile and location-based Market Basket Analysis (MBA). MBA is a technique used to identify associations between products that are frequently purchased together, enabling businesses to optimize their marketing strategies and improve

 

 

Assignment Set – 2

1. Discuss in detail how decision trees work in classification problems.

Ans 1.

Decision trees are powerful machine learning algorithms used for both classification and regression tasks. They work by partitioning the input data into subsets based on certain features, ultimately creating a tree-like structure of decisions that lead to predicted outcomes. In classification problems, decision trees are used to classify input instances into different classes or categories.

Here’s a detailed explanation of how decision trees work in classification problems:

 

 

2. Explain Data Mining Process.

Ans 2.

Data mining is a crucial component of the field of business analytics, which involves extracting valuable insights and knowledge from large and complex datasets to aid in informed decision-making. The data mining process encompasses a series of well-defined steps that help analysts discover hidden patterns, relationships, and trends within the data. This process involves various techniques and methodologies to uncover valuable information

 

 

3. Discuss some of the challenges that organizations may face in managing data.

Ans 3.

Managing data has become a critical aspect of modern business operations, as organizations increasingly rely on data-driven decision-making to gain competitive advantages and enhance their overall performance. However, the process of managing data is not without its challenges. In this discussion, we will explore some of the significant challenges that organizations may face in managing data.

Data Quality and Integrity: One of the foremost challenges in data management is ensuring