[Ebook PDF] Business Analytics, 3rd Edition

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Authors: James R. Evans (Author)

For undergraduate or graduate business students.

A balanced and holistic approach to business analytics

Business Analytics  teaches the fundamental concepts of modern business analytics and provides vital tools in understanding how data analysis works in today’s organizations. Author James Evans takes a fair and comprehensive, approach, examining business analytics from both descriptive and predictive perspectives. Students learn how to apply basic principles, communicate with analytics professionals, and effectively use and interpret analytic models to make better business decisions. And included access to commercial grade analytics software gives students real-world experience and career-focused value. As such, the 3rd Edition has gone through an extensive revision and now relies solely on Excel, enhancing students’ skills in the program and basic understanding of fundamental concepts. Additionally, Analytic Solver can now be found in online supplements to accommodate any new software updates, so students are prepared to use these same tools when they graduate.

BRIEF CONTENT
Part 1 Foundations of Business Analytics
Chapter 1 Introduction to Business Analytics 1
Chapter 2 Database Analytics 47
Part 2 Descriptive Analytics
Chapter 3 Data Visualization 85
Chapter 4 Descriptive Statistics 115
Chapter 5 Probability Distributions and Data Modeling 173
Chapter 6 Sampling and Estimation 219
Chapter 7 Statistical Inference 247
Part 3 Predictive Analytics
Chapter 8 Trendlines and Regression Analysis 283
Chapter 9 Forecasting Techniques 325
Chapter 10 Introduction to Data Mining 355
Chapter 11 Spreadsheet Modeling and Analysis 377
Chapter 12 Simulation and Risk Analysis 423
Part 4 Prescriptive Analytics
Chapter 13 Linear Optimization 465
Chapter 14 Integer and Nonlinear Optimization 523
Chapter 15 Optimization Analytics 565
Part 5 Making Decisions
Chapter 16 Decision Analysis 603
Appendix A 633
Glossary 657
Index 665

PREFACE
In 2007, Thomas H. Davenport and Jeanne G. Harris wrote a groundbreaking book, Competing on Analytics: The New Science of Winning (Boston: Harvard Business School Press). They described how many organizations are using analytics strategically to make better decisions and improve customer and shareholder value. Over the past several years, we have seen remarkable growth in analytics among all types of organizations. The Institute for Operations Research and the Management Sciences (INFORMS) noted that analytics software as a service is predicted to grow at three times the rate of other business segments in upcoming years.1 In addition, the MIT Sloan Management Review in collaboration with the IBM Institute for Business Value surveyed a global sample of nearly 3,000 executives, managers, and analysts.2 This study concluded that top-performing organizations use analytics five times more than lower performers, that improvement of information and analytics was a top priority in these organizations, and that many organizations felt they were under significant pressure to adopt advanced information and analytics approaches. Since these reports were published, the interest in and the use of
analytics has grown dramatically.
In reality, business analytics has been around for more than a half-century. Business schools have long taught many of the core topics in business analytics—statistics, data analysis, information and decision support systems, and management science. However, these topics have traditionally been presented in separate and independent courses and supported by textbooks with little topical integration. This book is uniquely designed to present the emerging discipline of business analytics in a unified fashion consistent with the contemporary definition of the field.