L3 - Analytics Framework

Analytics Framework

This framework provides a comprehensive approach to data analysis and decision-making.. This leads to better insights, improved decision making, and ultimately, better outcomes for the organization.

Business Problems/Objectives:

determine what data to be gathered, what the organization wants to achieve through data analysis, and what analysis to be done

Business Problems/Objectives:

Examples:

•improve the course success rate

•increase market share

•improve customer retention

Business Problems/Objectives:

All business or analytical solutions should be anchored firstly on the __________ __________ to be solved or fundamental market need to be addressed.

Business Problems/Objectives:

Identifying the ________ _______ is the starting point of the analytics framework.

Business Problems/Objectives:

_________ in an analytic framework is a clear and concise statement of what a company or organization wants to achieve or solve through data analysis

Business Problems/Objectives:

It provides a foundation for the data analysis process and helps to align the analysis with the overall goals and strategy of the organization.

SMART

The business objective or problem should be specific, measurable, achievable, relevant, and time-bound (________)

Data Objects

identifies the data needed to conduct the analysis

Data Objects

Examples:

•CUSTOMER FILE: customer demographics

•SALES FILE: purchase history

•ORDER FILE: volume of orders

Data Objects

This includes determining what data is available, what data needs to be collected, and how the data will be stored and organized.

Analytics/Analysis

once you have your data, you can now analyze it using techniques. skills of data scientist, business intelligence analyst or machine learning analysts will be beneficial.

Analytics/Analysis

Examples:

•Student feedback analysis

•Faculty Evaluation Ratings Analysis

•Churn Analysis

Analytics/Analysis

This component determines the type of analysis needed to address the business problems and achieve the objectives. For example, predictive analytics might be needed to identify future trends, while descriptive analytics might be used to summarize past events.

Actions

Taken in order to realize the value from insights.

Actions

Include recommending operational changes or new organizational behaviors.

Actions

Data-driven approaches must be employed by the organization and create informed business decisions to attain organizational success.

Actions

This component identifies the _______ that need to be taken based on the insights and recommendations derived from the analysis.

Actions

This could involve implementing process changes, launching new products or services, or launching marketing campaigns.

Actions

Examples:

•tutoring program

•students selection policy

•reward program

•anti-attrition campaign

Measurement

Used to track and assess the status of a specific business process.

Measurement

To be effective, business metrics should be compared to established benchmarks or business objectives.

Measurement

Examples:

•customer satisfaction levels

•sales data to determine the impact of the actions taken

Measurement

Integral to an organization's success. Must also be carefully managed to make sure that they give right answers, and that the right questions are being asked.

Analytics/Analysis

Data Analytics Scenarios:

attrition analysis

at-risk (of dropping) learners analysis

enrollment trend analysis

Business Problems/Objectives:

Data Analytics Scenarios:

improve course success rate

Actions

Data Analytics Scenarios

- Faculty Training & Development Program

- Implement Faculty

-Classification/Specialization Program

Business Problems/Objectives:

Data Analytics Scenario

improve delivery of instruction to our students

Data Objects

Data Analytics Scenario

•Faculty File

•Student File

•Course File

•Student Evaluation File

•Classroom Observation File

Business Problems/Objectives:

Data Analytics Scenario

further improve the passing rate of the University in board examinations

Analytics/Analysis

Data Analytics Scenario

Board examination results

Student Profiling Analysis

Faculty Profiling Analysis

Curriculum Analysis

Measurement

Data Analytics Scenario

Average Passing Rate

Actions

Data Analytics Scenario

Student Selection and Retention Program

Training and Development

Faculty Alignment

Curriculum revision

Data Objects

Data Analytics Scenario

•Student File

•Course File

•Teacher File

•Exam File

•Historical Board Exam Passing Rate File

•Program Evaluation File

Business Problems/Objectives:

Data Analytics Scenario

How can I retain my customers?

Analytics/Analysis

Data Analytics Scenario

Loyalty Analysis

Churn Analysis

Actions

Data Analytics Scenario

Reward Program

Anti-attrition campaing

Measurement

Data Analytics Scenario

Churn rate

Average customer tenure

Data Objects

Data Analytics Scenario

•Customer File

•Sales File

•Marketing campaign File

•Customer Service Interaction File

•Social media File

•Retention rate files