Preface

This book deals with business analytics (BA)—an emerging area in modern business decision making.

BA is a data-driven decision-making approach that uses statistical and quantitative analysis, information technology, management science (mathematical modeling and simulation), along with data mining and fact-based data to measure past business performance to guide an organization in business planning, predicting the future outcomes, and effective decision making.

BA tools are also used to visualize and explore the patterns and trends in the data to predict future business outcomes with the help of forecasting and predictive modeling.

In this age of technology, companies collect massive amounts of data. Successful companies view their data ...

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