Practical Business Analytics Using R and Python: Solve Business Problems Using a Data-driven Approach

© Umesh R. Hodeghatta, Ph.D and Umesha Nayak 2023

U. R. Hodeghatta, U. NayakPractical Business Analytics Using R and Pythonhttps://doi.org/10.1007/978-1-4842-8754-5_4

4. Business Analytics Process

Umesh R. Hodeghatta¹   and Umesha Nayak²

(1)

South Portland, ME, USA

(2)

Bangalore, Karnataka, India

 

This chapter covers the process and life cycle of business analytics projects. We discuss various steps in the analytic process, from understanding requirements to deploying a model in production. We also discuss the challenges at each stage of the process and how to overcome those challenges.

4.1 Business Analytics Life Cycle

The purpose of business analytics is to derive information from data in order to make appropriate business decisions. Data can be real ...