Description

SESSION	JUL – AUG 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DADS403 BUSINESS ANALYTICS

 

 

Assignment Set – 1

 

 

1 What is Business Analytics? Discuss the role of Business Analytics in various Domains of Business.

Ans 1.

Business Analytics and Its Role in Various Domains of Business

Definition of Business Analytics Business Analytics (BA) refers to the use of statistical methods, data mining, predictive modeling, and other quantitative approaches to analyze and interpret business data. It aids organizations in making data-driven decisions by uncovering patterns, trends, and insights from large datasets. BA integrates technology, business processes, and data to optimize performance, improve efficiency, and drive innovation.

Role of Business Analytics in Marketing In marketing, business analytics plays a pivotal role

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2A.) Discuss any one purpose of using Conjoint analysis in detail.

2.B.) Explain the following terms and how are they calculated:

TRP

GRP  

Ans 2

1. Purpose of Using Conjoint Analysis

Conjoint analysis is a statistical technique used to understand how customers value different attributes of a product or service. It is primarily used in market research to determine customer preferences and the trade-offs they are willing to make among various features.

Understanding Product Preferences The primary purpose of conjoint analysis is to assess the relative importance of different product attributes in influencing consumer choices. For instance, in the case of smartphones, conjoint analysis can help determine whether customers

 

3 Discuss MDS and Perceptual Map in detail.      

Ans 3.

Multidimensional Scaling (MDS) and Perceptual Maps

Introduction to Multidimensional Scaling (MDS) Multidimensional Scaling (MDS) is a statistical technique used to analyze and visualize the similarities or dissimilarities among a set of items or objects. It is primarily used in market research, psychology, and other fields to represent complex data in a low-dimensional space, typically two or three dimensions. The main goal of MDS is to create a spatial map where the distances between objects reflect their level of similarity or dissimilarity. The closer two points are on the map, the more similar they

 

 

Assignment Set – 2

 

 

4 What is Propensity Model?  Briefly discuss different types of Propensity Models. 2+8

Ans 4.

Propensity Model and Its Types

Definition of Propensity Model A propensity model is a predictive analytics tool used to estimate the likelihood of a particular outcome based on historical data. These models use statistical and machine learning techniques to analyze patterns and predict the probability of future events. Propensity models are widely applied in business contexts such as marketing, sales, and customer relationship management.

For instance, a propensity model might predict the likelihood of a customer purchasing a

 

 

5 Briefly discuss any five Digital Marketing techniques.

Ans 5.

Digital Marketing Techniques

Search Engine Optimization (SEO) Search Engine Optimization (SEO) is a digital marketing technique that focuses on optimizing a website’s content, structure, and backlinks to improve its ranking on search engine results pages (SERPs). The goal of SEO is to increase organic (non-paid) traffic by ensuring that the website aligns with the algorithms used by search engines like Google. SEO involves on-page optimization (such as keyword usage, meta tags, and content quality), off-page optimization (such as link-building), and technical SEO (such as

 

 

6 Elaborate RPA. Discuss 5 step implementation approach of RPA

Ans 6.

Robotic Process Automation (RPA) and Its Implementation Approach

What is RPA? Robotic Process Automation (RPA) is a technology that uses software robots or “bots” to automate repetitive, rule-based tasks in business processes. These bots mimic human interactions with digital systems, such as logging into applications, entering data, and generating reports. RPA improves efficiency, reduces errors, and frees employees to focus on higher-value tasks. It is commonly used in industries like banking, healthcare, and retail for