Business Analytics: How business analytics are applied in practice?
How business analytics are applied in practice?
Our course provides an overview of the following tools:
• Data visualization
• Text mining
• Linear regression
• Time series analysis and forecasting
• Spreadsheet models
• Python programming
In our group project, you are asked to collect some data and carry out an analytical
study in the business context. This individual essay takes another perspective. You need to select two of the tools and review some of their major applications of real-life scenarios. Through this review, you can understand the latest development in business analytics in practice and also you can have a chance to reveal the gaps between your current knowledge and the knowledge required at work. This will help you get prepared for commercial works in business analytics as appropriate.
1. Select two tools (e.g., text mining and linear regression)
2. For each tool, review some of their major applications in real-life (e.g.,
applications in business organizations and/or multinational companies)
3. For each tool, discuss the latest development (e.g., popularity, new techniques,
current applications, etc.…)
4. Identify the knowledge gap between your current knowledge and the knowledge
required to apply these tools
5. Suggest how you can close the gap