Recap of Session#1:

Overview of Business Analytics in a

Business Context
By
Dr. Amit Kumar Bhardwaj
&
Dr. Ankit Mahindroo
Differences
 Case Study Discussion: "Using Analytics to Drive Business
Strategy"
• Amazon* and *Netflix* as leaders in data-driven decision-making.
• - How they leverage analytics to enhance customer experience, personalize
offerings, and improve operational efficiency.
• - Amazon :
• - Uses predictive analytics to optimize inventory and anticipate customer
demand.
• - Uses prescriptive analytics in pricing and promotions.
 Applications of Business Analytics Across Industries
• - Retail : Predicting customer preferences, optimizing supply chain.
• - Healthcare : Analyzing patient data to predict diseases, personalizing
treatment plans.
• - Finance : Credit risk analysis, fraud detection, algorithmic trading.
• - Manufacturing : Quality control, predictive maintenance, supply chain
optimization.
 Question
Can you think of any other industries
that benefit from analytics? How
might they use it?
 Challenges in Implementing Business Analytics
• - Data Quality Issues : Poor data quality leads to inaccurate insights.
• - Data Silos : Different departments storing data separately, limiting a unified
view.
• - Privacy and Security : Ensuring that analytics initiatives protect sensitive
information.
• - Lack of Skilled Personnel : Need for individuals with technical and analytical
skills.
 Key Takeaways
• Business analytics helps drive decisions with data, offering strategic advantages.
• - Three main types of analytics (descriptive, predictive, prescriptive) serve
different purposes.
• - Major companies like Amazon and Netflix effectively use analytics to remain
competitive.
 Session#2|
Data Sources in the Present Era and How
to Capture Them
- Harnessing Diverse Data

By
Dr. Amit Kumar Bhardwaj
&
Dr. Ankit Mahindroo
[Link]

Dr. Amit Kumar Bhardwaj, LMSTM, TIET University

Dr. Amit Kumar Bhardwaj, LMSTM, TIET University

3,000

2,500

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1,500

1,000

500

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Facebook YouTube WhatsApp Instagram TikTok WeChat Facebook messagnger
Number of Subscribers for Different OTT Platforms
(2024)
Source: Web 1.0 vs Web 2.0 vs Web 3.0 vs Web 4.0 vs Web 5.0 – A bird’s eye on the evolution and definition | ([Link])
Industrial Revolutions
Key technology of Industry 4.0 | SMACIT + AR+VR +
Additive Manufacturing + BCT+ Cyber Security
 Introduction to Modern Data Sources
• Definition:
Data sources refer to origins where data is generated, stored, or made available
for analysis.
• Importance in the Present Era:
• Enables informed decision-making.
• Drives innovation through diverse data streams.
 Classification of Data Sources
• Types:
• Traditional (e.g., databases, surveys).
• Modern (e.g., IoT, social media).
• Real-Time (e.g., live streams, telemetry).
 Traditional Data Sources
• Definition: Structured and static data sources from historical methods.
• Examples:
• Relational databases (e.g., SQL Server, Oracle).
• Excel sheets and CSV files.
• Surveys and official records.
• Capture Methods:
• Database queries (SQL).
• Manual input or APIs for transferring data.
 Social Media as a Data Source
• Definition: Platforms generating massive amounts of user-generated content.
• Examples:
• Twitter, Instagram, LinkedIn, Facebook.
• Capture Methods:
• APIs: Twitter API, Facebook Graph API.
• Web scraping tools: BeautifulSoup, Selenium.
• Applications: Sentiment analysis, trend identification.
 Internet of Things (IoT)
• Definition: Networked devices collecting and transmitting data in real time.
• Examples:
• Smart home devices, industrial sensors, wearables.
• Capture Methods:
• MQTT or HTTP protocols.
• IoT platforms like AWS IoT Core, Google Cloud IoT.
• Applications: Predictive maintenance, environmental monitoring.
IoT Device Growth
• 2019: There were approximately 9.5 billion IoT devices globally.
• 2020: IoT device usage surged to 11.7 billion, driven by increased adoption in smart homes and
industrial IoT applications.
• 2021: The number of IoT devices reached 13.8 billion, supported by advancements in 5G connectivity.
• 2022: Global IoT devices grew to 15.9 billion, with significant use in healthcare and logistics.
• 2023: IoT device usage exceeded 18.1 billion, as businesses embraced IoT for automation and
predictive maintenance.
 Internet of Things (IoT)
• IoT Market Growth
• The global IoT market size was valued at $381 billion in 2020 and is expected to
reach $1.85 trillion by 2028, growing at a CAGR of 24.9% (Fortune Business
Insights, 2023).
• By 2025, IoT devices are projected to generate 73.1 zettabytes of data annually
(IDC, 2023
IoT in Enterprises
• 94% of businesses use IoT to improve operational efficiency (Statista, 2023).
• 83% of companies report measurable ROI from IoT investments within 18 months (Gartner,
2023).
• Future Projections
• By 2025, there will be 75 billion connected IoT devices globally (Statista).
• IoT adoption in smart cities will contribute $2.5 trillion to GDP by 2030.
 Web and App Data
• Definition: Data generated from websites, mobile applications, and online platforms.
• Examples:
• Clickstream data, user behavior logs.
• Capture Methods:
• Google Analytics, Adobe Analytics.
• SDKs for app tracking (e.g., Firebase).
• Applications: Personalization, customer journey mapping.
Growth in Web and App Usage
• Global Internet Users: As of 2023, there are 5.18 billion internet users worldwide,
representing 64.6% of the global population (Statista, 2023).
• Mobile App Downloads: Global app downloads reached 255 billion in 2022, a 22%
increase from 2018 (Sensor Tower).
• E-commerce Traffic: Over 58% of global web traffic comes from mobile devices, with a
significant portion attributed to shopping and social media apps.
 Streaming Data
• Definition: Continuous data flow from live sources.
• Examples:
• Stock market feeds, video streams, telemetry data.
• Capture Methods:
• Kafka, Apache Flink, Amazon Kinesis.
• Applications: Real-time analytics, fraud detection.
Growth of Streaming Data Volume
• Global Expansion:
• Streaming data is expected to grow at a CAGR of 20.4%, reaching $5.5 billion by 2028 (Fortune
Business Insights, 2023).
• Data Generation:
• By 2025, IoT devices alone are projected to generate 73.1 zettabytes of data annually (IDC).
• Social media platforms contribute significantly to streaming data, with 500,000 tweets per minute
on Twitter.
 Open Data Sources
• Definition: Publicly available data shared for free or with minimal restrictions.
• Examples:
• Government datasets, open research repositories (e.g., Kaggle, UCI ML).
• Capture Methods:
• Direct download.
• APIs for accessing datasets (e.g., Census Bureau API).
• Applications: Policy analysis, academic research.
Growth:The number of publicly available datasets has grown exponentially, with
over 1.4 million datasets on [Link] as of 2023.
• International platforms like the European Data Portal and World Bank Open
Data are adding thousands of datasets yearly.
 Enterprise Systems
• Definition: Data from internal organizational systems.
• Examples:
• ERP, CRM, and HRMS systems (e.g., Salesforce, SAP).
• Capture Methods:
• ETL pipelines (Extract, Transform, Load).
• Direct database integrations.
• Applications: Business process optimization, customer relationship management.
Market Growth
• Rapid Expansion: The global enterprise software market was valued at $272
billion in 2021 and is expected to reach $430 billion by 2028, growing at a CAGR
of 7.8% (Fortune Business Insights, 2023).
• Adoption Across Industries: Industries such as manufacturing, retail, healthcare,
and finance are leading adopters of enterprise systems.
 Cloud Data Sources
• Definition: Data stored and accessed from cloud platforms.
• Examples:
• AWS S3, Google BigQuery, Azure Data Lake.
• Capture Methods:
• Cloud APIs or SDKs.
• Cloud-native ETL tools (e.g., AWS Glue).
• Applications: Scalable storage and distributed analytics.
 Sensor and Geospatial Data
• Definition: Data from sensors or geographic locations.
• Examples:
• GPS data, environmental sensors.
• Capture Methods:
• GIS tools (e.g., ArcGIS, QGIS).
• APIs for geospatial data (e.g., Google Maps API).
• Applications: Navigation, logistics optimization.
 Challenges in Data Capture
• Data Volume: Handling large-scale data (e.g., big data frameworks).
• Integration Issues: Consolidating data from diverse sources.
• Security Concerns: Ensuring data privacy and compliance (e.g., GDPR).
 Tools and Technologies
• ETL Tools: Informatica, Talend, Apache Nifi.
• APIs: RESTful APIs, GraphQL.
• Real-Time Streaming: Kafka, Spark Streaming.
• Big Data Platforms: Hadoop, Snowflake.
 Data Sources in an Organization: Context of Man-to-Man,
Man-to-Machine, and Machine-to-Machine
• Internal Communication Tools:
• Platforms: Email systems, chat applications (e.g., Slack, Microsoft Teams).
• Data Generated: Communication logs, sentiment analysis, collaboration patterns.
• Use Case: Tracking team productivity, identifying workflow bottlenecks.
• Knowledge Management Systems:
• Platforms: Wikis, document repositories, intranets.
• Data Generated: Frequently accessed resources, shared expertise.
• Use Case: Analyzing knowledge dissemination and fostering collaboration.
• Customer Support Systems:
• Platforms: CRM tools, helpdesk systems.
• Data Generated: Interaction logs between employees and customers.
• Use Case: Enhancing customer satisfaction and resolving issues effectively.
• Feedback and Surveys:
• Platforms: Employee and customer survey tools.
• Data Generated: Satisfaction scores, opinions, and suggestions.
• Use Case: Measuring organizational sentiment and identifying improvement areas.
 2. Man-to-Machine Data Sources
• Man-to-Machine data refers to data generated from interactions between humans and devices,
software, or systems.
• Examples of Man-to-Machine Data Sources:
• Web and App Data:
• Platforms: Websites, mobile applications.
• Data Generated: User behavior logs, clickstreams, session data.
• Use Case: Personalizing user experiences and mapping customer journeys.
• Marketing Automation Tools:
• Platforms: HubSpot, Google Ads.
• Data Generated: Campaign performance, customer engagement.
• Use Case: Optimizing marketing strategies and ROI tracking.
• Learning Management Systems (LMS):
• Platforms: Moodle, Blackboard, Coursera.
• Data Generated: Course completion rates, learning paths.
• Use Case: Enhancing employee training and identifying skill gaps.
• Physical Access and Security Systems:
• Platforms: RFID systems, biometric scanners.
• Data Generated: Entry/exit logs, security alerts.
• Use Case: Monitoring employee movement and enhancing security.
 3. Machine-to-Machine (M2M) Data Sources
• Machine-to-Machine data refers to automated data exchanges between devices, sensors, or systems without human intervention.
• Examples of Machine-to-Machine Data Sources:
• IoT Devices:
• Platforms: Smart home devices, industrial sensors.
• Data Generated: Telemetry data, environmental metrics.
• Use Case: Predictive maintenance, real-time monitoring.
• Machine and Equipment Logs:
• Platforms: Manufacturing equipment, industrial robots.
• Data Generated: Operational performance, error logs.
• Use Case: Optimizing production and reducing downtime.
• Streaming Data:
• Platforms: Kafka, Amazon Kinesis.
• Data Generated: Continuous data streams from sensors, servers.
• Use Case: Real-time analytics and fraud detection.
• Digital Twins:
• Platforms: Virtual replicas of physical systems.
• Data Generated: Simulated data for predictive insights.
• Use Case: Testing new strategies and improving system design.
• Enterprise Systems:
• Platforms: ERP, CRM, HRMS systems.
• Data Generated: Automated data flows for financial, customer, and employee management.
• Use Case: Streamlining operations and resource allocation.
 Comparison of Data Sources

Category Examples Data Type Applications

Emails, Surveys, Text, Sentiment, Collaboration,

Personalization,
Web Logs, LMS, Behavioral,
Man-to-Machine Training,
Marketing Tools Performance
Optimization
Predictive
Machine-to- IoT, Equipment Logs, Telemetry, Real-Time
Maintenance,
Machine Streaming Data Metrics
Automation
 Sources of data generation in an organization:
1. Internal Communication Tools
• Examples: Email systems, chat applications (e.g., Slack, Microsoft Teams).
• Data Generated:
• Communication patterns.
• Sentiment analysis of employee interactions.
• Task management data.
• Applications:
• Productivity analysis.
• Improving internal workflows.
 2. Knowledge Management Systems
• Examples: Document repositories, wikis, and intranets.
• Data Generated:
• Frequently accessed documents.
• Contributions to knowledge sharing (e.g., articles, guides).
• Applications:
• Assessing information dissemination effectiveness.
• Identifying expertise within the organization.
 3. Employee Performance and HR Systems
• Examples: HRMS platforms (e.g., Workday, BambooHR).
• Data Generated:
• Employee performance metrics.
• Training and development records.
• Attrition and recruitment trends.
• Applications:
• Workforce planning and optimization.
• Enhancing employee satisfaction.
 4. Machine and Equipment Logs
• Examples: Manufacturing equipment, industrial robots, IT hardware.
• Data Generated:
• Equipment utilization and maintenance records.
• Error logs and operational performance.
• Applications:
• Predictive maintenance.
• Optimizing resource allocation.
 5. Customer Support Systems
• Examples: CRM tools (e.g., Salesforce), helpdesk platforms (e.g., Zendesk).
• Data Generated:
• Customer interaction logs.
• Support ticket statuses and resolutions.
• Applications:
• Enhancing customer satisfaction.
• Identifying recurring issues and solutions.
 6. Physical Access and Security Systems
• Examples: RFID systems, biometric scanners, surveillance cameras.
• Data Generated:
• Entry/exit logs.
• Security breach alerts.
• Applications:
• Monitoring employee movement.
• Enhancing security protocols.
 7. Financial Systems
• Examples: Accounting tools (e.g., QuickBooks, SAP Finance).
• Data Generated:
• Transactional data (e.g., expenses, revenue).
• Budgeting and forecasting records.
• Applications:
• Financial analysis and compliance.
• Cost optimization strategies.
 8. Partner and Supplier Systems
• Examples: Supply chain platforms, vendor management systems.
• Data Generated:
• Procurement details.
• Supplier performance metrics.
• Inventory data.
• Applications:
• Streamlining the supply chain.
• Improving vendor relationships.
 9. Marketing Automation Tools
• Examples: HubSpot, Marketo, Google Ads.
• Data Generated:
• Campaign performance data.
• Customer acquisition and retention metrics.
• Applications:
• Optimizing marketing strategies.
• Tracking ROI for campaigns.
 10. Energy and Utility Systems
• Examples: Smart meters, utility billing systems.
• Data Generated:
• Energy consumption patterns.
• Carbon footprint data.
• Applications:
• Reducing operational costs.
• Implementing sustainable practices.
 11. Learning Management Systems (LMS)
• Examples: Moodle, Blackboard, Coursera.
• Data Generated:
• Employee/student course participation.
• Learning outcomes and completion rates.
• Applications:
• Improving training effectiveness.
• Identifying skill gaps.
 12. Competitive Intelligence
• Examples: Market analysis tools, competitor reports.
• Data Generated:
• Competitor pricing and performance trends.
• Customer sentiment on competitors.
• Applications:
• Strategic planning.
 13. Digital Twins
• Examples: Virtual replicas of physical systems.
• Data Generated:
• Real-time simulation data.
• Predictive insights into system behavior.
• Applications:
• Testing new strategies in virtual environments.
• Improving product design and efficiency.
 14. Legal and Compliance Systems
• Examples: Contract management tools, compliance platforms.
• Data Generated:
• Regulatory compliance records.
• Contractual obligations and updates.
• Applications:
• Mitigating legal risks.
• Ensuring adherence to regulations.
 15. Feedback and Surveys
• Examples: Employee surveys, customer feedback platforms.
• Data Generated:
• Employee satisfaction scores.
• Net Promoter Score (NPS) for customers.
• Applications:
• Measuring sentiment and areas for improvement.
• Enhancing customer and employee experience.
 Exercise: Identifying Data Sources in a Business School
• Task:
• Categorize the Data Sources:
• List at least two data sources for each of the following categories:
• Man-to-Man (e.g., faculty-student interactions).
• Man-to-Machine (e.g., LMS usage data).
• Machine-to-Machine (e.g., IoT-based energy management systems).
• Identify the Data Generated:
• For each data source, describe the type of data it generates (e.g., text, behavior logs, or
real-time metrics).
• Analyze the Use Cases:
• Explain one potential application for each data source in improving the business
school’s operations or student experience.
 Conclusion
• Key Takeaways:
• Data sources in the present era are diverse and dynamic.
• Efficient tools and methods are crucial for capturing and managing data.
• A well-structured data pipeline drives actionable insights.
• Visual: Centralized system integrating data from various sources.
 Jai Hind

Thank you