Analyst in Action

Source Have you wondered how to improve organizational efficiency? There is a pool of options that can help you out in achieving it. Let's talk about one of the most important ways i.e. ERP system (Enterprise Resource Planning). Why every important thing sounds so weird? ERP is like one of your friends which acts as a gel between all friends. To be more specific ERP system is like a bridge that helps in connecting all critical departments. ERP software allows all departments to collaborate and operates on a common database. All departments have access to the dataset which signifies the performance of the company. In the modern world where every organization is getting flooded with vast data, the role of BI is very pivotal. Mainly every ERP system has a built-in BI feature but in some cases, if you receive a large number of datasets on daily basis then you need a specialized BI tool that can be integrated with the ERP system. It can help your organization to get better insights from...

Source You must be aware of various customer segmentation techniques and analyses. Let's discuss one of the most important analyses today i.e. RFM Segmentation. What is this 3 letter term can do? The answer is it can do wonders let's get to know more about it. RFM analyses are the method of separating your customers based on RFM scores which will help you in identifying your best customers and lost customers. RFM is an acronym for Recency, Frequency, and Monetary. The main idea behind this analysis is to understand your customers well because it will separate your customers based on how recently your customer made any purchase, how often they are buying, and what is the average cost of their orders. RFM analyses can be performed in various analytical and programming tools such as Python, R, and Excel. I have done it in Excel on sample data. How to do it in Excel?   Select the right data and insert a pivot table and select the pivot table field accordingly in my case I have se...

Want to retain your customers then you are at the right place. It can be achieved by Cohort Analysis but the question is how this analysis helps in achieving it. Let's get started by understanding it. Cohort Analysis is used by the analyst to determine the user engagement of customers over time. To be more precise it helps to know whether our user engagement is increasing or decreasing over a period of time. It is done to know the level of user engagement and the customer churning rate in any organization.  In marketing, the cohort is referred to as the group which possesses similar characteristics or traits, and this analysis helps us to divide customers based on their behavior. To get a better understanding of your audience you need to perform such analysis on regular basis. It can be performed in almost every analytical tool mostly organizations prefer Google Analytics but I have done it in Tableau.  This analysis is done in Tableau. Let me walk through it and explain what ...

Have you heard of EDA? Let's, deep dive into Exploratory data analysis (EDA). It is the analysis used by a data scientist to spot the patterns, trends, and hypotheses to manipulate the data for getting your questions answered. It is a vital step to get the most out of any data and also it is critical because it provides a better picture of the relationship between different variables. EDA is mainly practiced to get a better understanding of your data before making any assumptions. It answers some basic questions related to data such as the confidence interval, standard deviation, and relationship that exist between different variables. EDA is a soul for any data analysis. According to John Tukey “ Exploratory data analysis is an attitude, a state of flexibility, a willingness to look for those things that we believe are not there, as well as those we believe to be there. ” Source There are mainly 4 types of EDA- Univariate non-graphical- It only deals with a single variable so it i...

Source Want to improve your business performance? You heard it right it can be achieved by implementing Business Intelligence tools in your business operations and utilize  big data  in effective decision making. Business Intelligence is a process that can help executives and managers to make informed decisions by analyzing data and by developing actionable insights out of it. It is one of the major concepts which can help your business grow.  There are several Business Intelligence tools available it all depends on your needs. Tableau, Microsoft Power BI, SQL, QlikView, and many more. All of them perform in a similar way but there are minute differences between them when it comes to their functionality. SAS ( SAS BI ): Business Intelligence: It is a great business intelligence platform that also offers advanced predictive analytics which can help to predict future business trends. There are several APIs offered by SAS to customize your analysis and reporting. QlikSense (...