SRM TRP ENGINEERING COLLEGE

DEPARTMENT OF COMPUTER SCIENCE AND ENGINEERING &

DEPARTMENT OF ARTIFICIAL INTELLIGENCE AND DATA SCIENCE

Two Marks Questions With Answers

UNIT I-INTRODUCTION TO BUSINESS ANALYTICS

1. Define Data Analytics.
Data Analytics is used to get conclusions by processing the raw data.
Data analytics is the use of tools and processes to combine and examine datasets to identify patterns
and develop actionable insights.

2. What is Data Science?

 Data Science is a field that deals with extracting meaningful information and insights by
applying various algorithms preprocessing and scientific methods on structured and unstructured
data..
 Data Science is the application of tools, processes, and techniques such as programming,
statistics, machine learning and algorithms towards combining, preparing and examining large
datasets.

3. Give the difference between data analytics and data science.

Feature Data Science Data Analytics
Python is the most commonly used
The Knowledge of Python
language for data science along with
Coding Language and R Language is essential
the use of other languages such as
for Data Analytics.
C++, Java, Perl, etc.
Programming In-depth knowledge of programming Basic Programming skills are
Skills is required for data science. necessary for data analytics.
Data Analytics does not use
Use of Machine Data Science makes use of machine
machine learning to get the
Learning learning algorithms to get insights.
insight of data.
Data Science makes use of Data Hadoop Based analysis is
Other Skills mining activities for getting used for getting conclusions
meaningful insights. from raw data.
The Scope of data analysis is
Scope The scope of data science is large.
micro i.e., small.
Data science deals with explorations Data Analysis makes use of
Goals
and new innovations. existing resources.
Data Science mostly deals with Data Analytics deals with
Data Type
unstructured data. structured data.
The statistical skills are of
Statistical skills are necessary in the
Statistical Skills minimal or no use in data
field of Data Science..
analytics.
4. What are the steps in data analytics lifecycle?
The data science life-cycle thus looks somewhat like:
1. Data acquisition
2. Data preparation
3. Hypothesis and modeling
4. Evaluation and Interpretation
5. Deployment
6. Operations
7. Optimization

5. What are the types of analytics?

1.Descriptive Analytics
2. Diagnostic Analytics
3. Predictive Analytics
4. Prescriptive Analytics
5. Cognitive Analytics

6. Define Business problem.

Business problems are obstacles that a business might encounter as they continue to conduct
operations.
 Creating and automating financial forecasting models.
 Cleaning up and capturing accurate financial data points.
 Developing more accurate business planning models.
 Identifying realistic data-driven objectives along with ways to monitor achievement and to
trouble-shoot shortfalls.

7. What are the different ways to collect the data?

There are different information sources which could be logs from web servers, web-based life
information, data from online repositories like Census datasets, data streamed from online sources via
APIs, web scraping, or data that could be present in an excel or can come from any other source.

8. List out the steps for data preparation.

i).Data collection
ii). Data discovery and profiling
iii). Data cleansing
iv). Data structuring
v). Data transformation and enrichment
vi). Data validation and publishing.

9. How the hypotheses for the problem are generated?

Hypothesis generation phase is about finding out what could be done to find the solution or pinpoint
the root cause of the problem. There could be hundreds of hypothesis for a single problem.
There is a null hypothesis and an alternate hypothesis, one of which is proved right using data and
statistics.
10. What are necessity for create modeling?
In this phase, various machine learning or statistical models are selected, trained, and evaluated on
the prepared dataset. It includes splitting the data into training and testing sets, selecting appropriate
algorithms, tuning hyper parameters, and assessing model performance using suitable evaluation
metrics.

11. Define validation.

Machine learning model performances should be measured and compared using validation and test
sets to identify the best model based on model accuracy and over-fitting.

12. What are the evaluation metrics?

Model evaluation involves assessing the performance of the trained models using evaluation metrics
such as accuracy, precision, recall, F1-score, or area under the ROC curve (AUC-ROC).

13. What is the importance of interpretation in the data analytics lifecycle?

Data interpretation refers to the process of using diverse analytical methods to review data and arrive
at relevant conclusions. The interpretation of data helps researchers to categorize, manipulate, and
summarize the information in order to answer critical questions.

14. How the deployment and iteration done?

Machine learning models might have to be recoded before deployment because data scientists might
favour Python programming language but the production environment supports Java. After this, the
machine learning models are first deployed in a pre-production or test environment before actually
deploying them into production.

15. What is Business Analytics?

Business analytics, or simply analytics, is the use of data, information technology, statistical analysis,
quantitative methods, and mathematical or computer-based models to help managers gain improved
insight about their business operations and make better, fact-based decisions.
 UNIT II-BUSINESS INTELLIGENCE
1. What is data warehouse?
 A data warehouse collects and stores data from various sources. Having a place to store your
data makes it easier to use and provides more insights, but on a larger scale.
 A data warehouse is a central repository for businesses to store and analyze massive amounts of
data from multiple sources.

2. Define Data mart.

● A Data Mart is a subset of a directorial information store, generally oriented to a specific
purpose or primary data subject which may be distributed to provide business needs.
● Data Marts are analytical record stores designed to focus on particular business functions for a
specific community within an organization.

3. List out the types datawarehouse?

● Enterprise Data Warehouse (EDW): As its name suggests, an EDW provides a centralized
system for enterprises to store and manage information from a wide number of sources. It assists
decision-making from a tactical and strategic point of view.
● Operational Data Store (ODS): An ODS complements the EDW we just described above. It is
a central database that updates in real-time, and it is used for operational reporting when the EDW
doesn‟t cover the business‟s reporting requirements.
● Data Mart: It is a subset of a DWH designed especially for a specific business area or team,
such as sales, HR, or marketing. It is subject-oriented, meaning users can find the insights they need
very quickly.

4. Difference between database and datawarehouse.

Database Data Warehouse
1. It is used for Online Transactional 1. It is used for Online Analytical
Processing (OLTP) but can be used for other Processing (OLAP). This reads the historical
objectives such as Data Warehousing. This information for the customers for business
records the data from the clients for history. decisions.
2. The tables and joins are complicated since 2. The tables and joins are accessible since
they are normalized for RDBMS. This is done they are de-normalized. This is done to
to reduce redundant files and to save storage minimize the response time for analytical
space. queries.
3. Data is dynamic 3. Data is largely static
4. Entity: Relational modeling procedures are 4. Data: Modeling approach are used for the
used for RDBMS database design. Data Warehouse design.
5. Optimized for write operations. 5. Optimized for read operations.
6. Performance is low for analysis queries. 6. High performance for analytical queries.
7. The database is the place where the data is 7. Data Warehouse is the place where the
taken as a base and managed to get available application data is handled for analysis and
fast and efficient access. reporting objectives.
5. What is Business Intelligence?
Business intelligence is the collection, methodology, organization, and analysis of data. When most
people use the term business intelligence or BI, they are referring to the platforms and practices for
the collection, integration, analysis, and presentation of business information.
BI is more than that—it allows for better business decision-making by ensuring decisions are
strategic.

6. What are the functions of OLAP?

1. Data collection: Data is collected from various sources.
2. Data integration: The collected data is then integrated and stored in a data warehouse.
3. Creation of OLAP cubes: The data from the data warehouse is organized into an OLAP cube.
4. OLAP server: There are OLAP servers available for nearly all the major database systems.
5. Data manipulation: Users can perform complex calculations, trend analyses, and data modeling.
6. Data analysis and reporting: Users can then analyze the processed data and generate reports.

7. What are the analytical operations in OLAP?

i)Roll-up operation- It is also called „aggregation.
ii)Drill-down operation- Increasing of dimension
iii)Slice and dice operation- a slice method, one dimension is chosen, and a subcube is generated.
A dice operation selects two or more dimensions, and subcubes are generated.
iv)Pivot operation-To provide a substitute presentation of data, you need to rotate the data axes in
this operation.

8. What are the types of OLAP?

1.Relational OLAP (ROLAP): This type of data is stored in a relational database.
2.Multidimensional OLAP (MOLAP) is a cube-based, multidimensional array of structured data
storage.
3.Hybrid OLAP (HOLAP): This is a combination of relational and multidimensional.
Three main types, some other types are below.
Web (WOLAP): This is based on a web browser.
Desktop (DOLAP): This is installed on the user‟s desktop.
Mobile (MOLAP): It is used to process data on a mobile device.
Spatial (SOLAP): This is used to process spatial data.

9. Give the difference between OLAP and OLTP.

OLAP OLTP
It is the system used for data analysis. It is the system used for data transactions.
A large number of small amounts of data
A large amount of data identifies it.
identify it.
It is large, basically ranging from 1Tb to It is small in size ranging from 1Mb to 10
100Pb. Gb.
It operates with a traditional database
It operates with a data warehouse.
management system.
Its processing speed is less. It has a faster processing speed.
Its reply time is more, and it usually takes It responds quickly and takes only
seconds to minutes to respond. milliseconds.
It needs only read operations. It needs both read and write operations.
 Its objective is to make decisions with the help Its objective is day-to-day operations.
of significant data sources.
Queries are complex. Queries are simple.
User strength is low (Its database allows only User strength is high (Its database allows
hundreds of users). thousands of users).
It helps to improve the productivity of business It helps to improve the productivity and
analysts. self-service of users.
It is created for real-time business
It is created for business analysis.
operations.

10. What is mean by knowledge management?

Knowledge management (KM) is the process of identifying, organizing, storing and disseminating
information within an organization.
A knowledge management system (KMS) harnesses the collective knowledge of the organization,
leading to better operational efficiencies. These systems are supported by the use of a knowledge
base. They are usually critical to successful knowledge management, providing a centralized place to
store information and access it readily.

11. What are the types of decisions?

According to their nature, decisions can be classified as
• Structured
• Unstructured and
• Semi-structured
According to their scope, decisions can be classified as
• Operational
• Tactical and
• Strategic

12. List out the steps involved in decision making process.

Step 1: 1.Identification of the Purpose of the Decision
Step 2: Information Gathering
Step 3: Principles for Judging the Alternatives
Step 4: Brainstorm and Analyze the Choices
Step 5: Evaluation of Alternatives
Step 6: Select the Best Alternative
Step 7: Execute the decision
Step 8: Evaluate the Results

13. What is Decision Support System? List out the elements of DSS.
A decision support system (DSS) is an interactive computer-based application that combines data and
mathematical models to help decision makers solve complex problems faced in managing the public
and private enterprises and organizations.
A decision is a choice from multiple alternatives, usually made with a fair degree of rationality. Each
individual faces on a continual basis decisions that can be more or less important, both in their
personal and professional life.
14.What is metadata?
Metadata means "data about data". Metadata is defined as the data providing information about one or
more aspects of the data; it is used to summarize basic information about data that can make tracking
and working with specific data easier. Some examples include: Means of creation of the data.

15.List out various data warehouse architecture.

a) Data Warehouse Architecture: Basic
b) Data Warehouse Architecture: With Staging Area
c) Data Warehouse Architecture: With Staging Area and Data Marts
 UNIT III - BUSINESS FORECASTING
1.What is Business Forecasting?
 Business forecasting is a projection of future developments of a business or industry based
on trends and patterns of past and present data.
 This business practice helps determine how to allocate resources and plan strategically for
upcoming projects, activities, and costs.
 Forecasting enables organizations to manage resources, align their goals with present trends,
and increase their chances of surviving and staying competitive.

2.Define Predictive Analytics.

 The term predictive analytics refers to the use of statistics and modeling techniques to make
predictions about future outcomes and performance. Predictive analytics looks at current and
historical data patterns to determine if those patterns are likely to emerge again.
 This allows businesses and investors to adjust where they use their resources to take advantage
of possible future events.

3.How the Predictive analytics helpful for Business forecasting?

 Predictive Analytics useful for businesses to help them manage inventory, develop
marketing strategies, and forecast sales.4 It also helps businesses survive, especially those in highly
competitive industries, such as health care and retail.5 Investors and financial professionals can
draw on this technology to help craft investment portfolios and reduce the potential for risk.
 These models determine relationships, patterns, and structures in data that can be used to draw
conclusions about how changes in the underlying processes that generate the data will change the
results.

4.Give the types of Predictive analytics model.

1.Decision Trees
2.Neural Networks
3. Regression

5.What are the uses of Predictive analytics techniques?

1. Fraud detection
2. Marketing campaigns optimization
3. Minimization in risks
4. Customer Service
5. Higher Education
6. Supply Chain
7. Insurance
8. Software Testing

6. How the logic driven model processing?

 Logic driven model based on experience, knowledge and logical relationships of variables and
constants connected to the desired business performance outcome situation.
 Depending on definitional boundaries, predictive modeling is synonymous with, or largely
overlapping with, the field of machine learning, as it is more commonly referred to in academic or
research and development contexts.
7. What is the purpose of data driven model?
 Data Driven Modeling (DDM) is a technique using which the configurator model
components are dynamically injected into the model based on the data derived from external systems
such as catalog system, Customer Relationship Management (CRM), Watson, and so on.
 It reduces the time to market since the model is dynamically updated with changes in the
catalog system.

8. What are types of data driven models?

Static
 Each time a new item gets added to the catalog, the modeler had to manually update the
model for making the new option items available in the UI.
 Multiple data sources are not supported. Model can receive data from a single data source
only.
Dynamic
 There is no need to manually update the model. Modeler creates the DDM- based model with
placeholders for dynamic options. Therefore, whenever a new item gets added to the catalog,
the application dynamically updates the model and displays the new option items in the UI.
Multiple data sources are supported. Data from multiple data sources can be injected into a
DDM- based model.

9. What is the importance of data mining in predictive analytics?

Data mining is an analytic process used to explore a large amount of data in regards to consistent
patterns and systematic relationships between variables. Businesses prefer data mining because it
aims to predict. Predictive analyses, on the other hand, refine data resources, in particular, to extract
hidden value from those newly discovered patterns.

10. What is the role of machine learning models in predictive analytics?

 The main similarity between predictive analytics and machine learning can be called a reference
to the past to unravel the future. But the significance, approaches, and functions in this process are
somewhat different.
 The use of an extensive array of data that a person cannot cope with analysis of patterns to
determine future results application in the same business sectors: security, finance, retail, medicine,
etc.

11. List out the use cases for Machine Learning Based Predictive Analytics.
 E-commerce
 Customer service
 Medical Diagnosis
 Sales and Marketing
 Financial Services
12.Differentiate Predictive analytics and Machine learning.
Predictive Analytics Machine Learning
Statistical Process Computational Process
An approach to understanding data A tool that can be used within this approach
It has a target audience It has no target audience
Exists Longer, well-defined scope of use Exists less,more flexible approach to the
problem
Accurate and complete historical data to Works best with very large datasets and can
build future models be applied to messy data
Makes informed predictions based only on Trained to learn from past mistakes how to
historical data about future events improve the future productivity

13.What is classification and regression?

Classification:
Classification is a process of finding a function which helps in dividing the dataset into classes based
on different parameters. In Classification, a computer program is trained on the training dataset and
based on that training, it categorizes the data into different classes.
Regression:
Regression is a process of finding the correlations between dependent and independent variables. It
helps in predicting the continuous variables such as prediction of Market Trends, prediction of House
prices, etc.

14. Differentiate Data mining and predictive analytics.

Predictive Analytics Data Mining
Predictive analytics refers to the use of both new data mining refers to the computational
and historical data, statistical algorithms, and technique of discovering patterns in huge
machine learning techniques to forecast future data sets involving methods at the
activity, patterns, and trends intersection of AI.
It helps to make predictions based on future It helps to understand the gathered
events. information better.
Business analysts and other SMEs perform it. Statisticians and engineers perform it.
It applies business knowledge to find patterns to It applies algorithms such as classification
get valid business predictions. and regression on gathered information to
find hidden patterns.

15. What are the analysis in Predictive Data mining and Descriptive Data mining?
Predictive Data Mining
Predictive Data-Mining analysis works on the data that may help to know what may happen later (or
in the future) in business.
 Classification Analysis,Regression Analysis
 Time Series Analysis,Prediction Analysis
Descriptive Data Mining
The main goal of the Descriptive Data Mining tasks is to summarize or turn given data into relevant
information.
 Clustering Analysis
 Summarization Analysis
 Association Rules Analysis
 Sequence Discovery Analysis
 UNIT IV-HR & SUPPLY CHAIN ANALYTICS

1. What is HR Analytics?
HR analytics is a methodology for creating insights on how investments in human capital assets
contribute to the success of four principal outcomes:
(a) generating revenue,
(b) minimizing expenses,
(c) mitigating risks, and
(d) executing strategic plans.

2. What is Supply chain analytics?

Supply chain analytics refers to the process by which organizations seek to understand and optimize
their supply chains — the set of activities involved in delivering goods and services to customers.

3. What is mean by human resources?

Human Resources (HR) is the department within a business or organization responsible for managing
its employees. HR is responsible for hiring, firing, and managing employee benefits, payroll, and
other staffing needs.

4. Define Human Resource Management.

Human resource management (HRM) is the process of employing people, training them,
compensating them, developing policies relating to them, and developing strategies to retain them.

5. What is Human Resource Planning?

Human resource planning allows companies to plan ahead so they can maintain a steady supply of
skilled employees. The process is used to help companies evaluate their needs and to plan ahead to
meet those needs.
Human resource planning needs to be flexible enough to meet short-term staffing challenges while
adapting to changing conditions in the business environment over the longer term. HRP starts by
assessing and auditing the current capacity of human resources.

6. What is recruitment in HRM?

The Recruitment is the process of identifying and analyzing the job requirements, and then finding
the prospective candidates, who are then encouraged and stimulated to apply for the job in the
organization.

7. What are the types of training in HRM?

(a) Induction or orientation training
(b) Job training
(c) Refresher training or retraining
(d) Internship training

8. Define Supply chain network.

A supply chain network is a network between a company and its suppliers to produce and distribute a
specific product or service. It involves a higher level of interdependence and connectivity between
more organizations than a basic supply chain. A supply chain network shows the links between
organizations and how information and materials flow between these links.
9. What is planning Demand?
Demand planning is a supply chain management process of forecasting, or predicting, the demand for
products to ensure they can be delivered and satisfy customers. The goal is to strike a balance
between having sufficient inventory levels to meet customer needs without having a surplus.

10. How the inventory and supply managed?

Inventory is the goods or materials a business intends to sell to customers for profit. Inventory
management, a critical element of the supply chain, is the tracking of inventory from manufacturers
to warehouses and from these facilities to a point of sale.

11. What are the steps to process logistics?

Supply management is the act of identifying, acquiring, and managing resources and suppliers that
are essential to the operations of an organization. It includes the purchase of physical goods,
information, services, and any other necessary resources that enable a company to continue operating
and growing.

12. List out the analytics applications in HR & supplychain .

1. Revenue per Employee
2. Time To Fill
3. Voluntary and Involuntary Turnover Rates
4. Offer Acceptance Rate
5. Retention Rate
6. Absence Rate
7.demand forecasting
8.Inventory management
9.Network optimization.
14. What are the sources of recruitment?
Internal Sources External Sources
1. Present Employees 1. Direct Recruitment
2. Past Employees 2. Employment Exchanges
3. Employee Referrals 3. Employment Agencies/ Professional
4. Previous Applicants Associations/Consultants
4. Advertisements
5. Walk ins
6. Campus Recruitment
7. Word of mouth advertising
8. Labour Contractors
9. Job Fairs
10. Outsourcing
11. Poaching/Raiding
12. E- Recruitment
15. What are the differences between logistics and supply chain management?
BASIS FOR
LOGISTICS MANAGEMENT SUPPLY CHAIN MANAGEMENT
COMPARISON
Meaning The process of integrating the The coordination and management of the
movement and maintenance of supply chain activities are known as
goods in and out the organization Supply Chain Management.
is Logistics.
Objective Customer Satisfaction Competitive Advantage
Evolution The concept of Logistics has Supply Chain Management is a modern
been evolved earlier. concept.

How many Single Multiple

organizations are
involved?
One in another Logistics Management is a Supply Chain Management is the new
fraction of Supply Chain version of Logistics Management.
Management.

13. How to apply HR Analytics to make a prediction of Preventing Employee Turnover?

Example 1: HP Predicting and Preventing Employee Turnover

In 2008, Hewlett Packard discovered that its employees were leaving the company at an alarming
rate. At first, the company thought that the problem was due to poor management or employee
dissatisfaction. But after conducting research, HP realized that either of these factors didn‟t cause the
pain. Instead, the issue was that HP had no way of predicting when employees would leave the
company.

To solve this problem, HP developed a predictive analytics program called “Project Insight. ” Project
Insight uses a combination of statistical modeling and text mining techniques to predict future
outcomes including telling which employees will quit within the next six months. HP then sends out
emails to warn employees who are most likely to leave based on this data analysis.

This program has helped HP significantly decrease employee turnover rates. For example, between
2009 and 2011, the number of employees quitting per month decreased from 20% to less than 10%.

Example 2: Google’s Prediction Engine To Predict Future Outcomes

Google is known for hiring top talent. The search engine giant employs thousands of new employees
every year, but only about 30% of them stay with the company for longer than two years. It means
that Google loses millions of dollars each year because it doesn‟t know which candidates will
succeed until too late.

To address this problem, Google created a predictive analytics program called Google Prediction
Engine. It analyzes job history, education, skills, and personality traits to determine how successful
the applicants will become at Google. This information is vital to other HR leaders as well.
Based on this information, the system generates predictions about whether an applicant will become a
great employee. If the forecast is favorable, Google then offers the candidate a position. However, if
the prediction is pessimistic, Google does not provide the person with a job.

This program has been very effective at reducing the number of unsuccessful applications. In fact,
since 2007, Google has hired over 100,000 new employees using the Google Prediction Engine.
 UNIT V-MARKETING & SALES ANALYTICS
1. Define Marketing Analytics.
Marketing analytics is the process of tracking and analyzing data from marketing efforts, often to
reach a quantitative goal. Insights gleaned from marketing analytics can enable organizations to
improve their customer experiences, increase the return on investment (ROI) of marketing efforts,
and craft future marketing strategies.

2. What is sales analytics?

Sales analytics refers to the technology and processes used to gather sales data and gauge sales
performance. Sales leaders use these metrics to set goals, improve internal processes, and forecast
future sales and revenue more accurately.

3. What are the different ways to collect data for marketing analytics?
 First-party data is collected directly from your users by your organization. It‟s considered the
most valuable data type because you receive information about how your audience behaves, thinks,
and feels.
 Second-party data is data that‟s shared by another organization about its customers (or its first-
party data). It can be useful if your audience types are the same or have similar demographics, if your
companies are running a promotion together, or if you have a partnership.
 Third-party data is data that‟s been collected and rented or sold by organizations that don‟t
have a connection to your company or users. Although it‟s gathered in large volumes and can provide
information about users similar to yours, third-party data isn‟t the most reliable because it doesn‟t
come from your customers or a trusted second-party source.

4. How the marketing strategy used for analytics?

A marketing strategy is a long-term plan for achieving a company's goals by understanding the needs
of customers and creating a distinct and sustainable competitive advantage.With a marketing strategy,
you can define how your company positions itself in the marketplace, the types of products you
produce, the strategic partners you make, and the type of advertising and promotion you undertake

5. List the P’s of Marketing Mix.

 Marketing mix is a selection of marketing tools that include several areas of focus that can be
combined to create a comprehensive plan..
 The term refers to a classification that began as the 4 P‟s: product, price, placement, and
promotion, and has been expanded to Product, Price, Promotion, Place, People, Packaging, and
Process.

6. What is customer behaviour?

 Consumer behavior is the study of consumers and the processes they use to choose, use
(consume), and dispose of products and services, including consumers‟ emotional, mental, and
behavioral responses.
 To create effective marketing strategies that can influence consumers‟ decision-making
processes.
7. Give steps for selling process.
SELLING PROCESS
The selling process is the interaction between a seller and a potential buyer or client. It's generally a
method businesses can replicate for consistent performance among salespeople.
Here are seven steps that are typically involved in making a sale:
1. Prospecting
2. Preparation or pre-approach
3. Approach
4. Presentation
5. Handling objections
6. Closing
7. Follow-up

8. What is role of sales planning?

 A sales plan is a business plan that features the development of the company‟s sales activity with
set objectives within a particular time frame.

9. What are the application in marketing and sales?

 Sales forecasting
 Sales force management
 Sizing Geo-distribution
 Predictive/prescriptive lead scoring
 Customer contact analytics

10. How the predictive analytics applied for customer behaviour in marketing?
 Goes beyond passive customer analytics by allowing marketers and retention experts to make
decisions based on expected future results.
 Allows you to dive deep into customer data and identify trends in user behavior.
 Can be used to identify at-risk customer segments and proactively avoid churn.
 Can provide valuable insights into customer behavior by collecting data on customer interactions
with a business‟s products or services.
 Can be used to create targeted campaigns based on these findings.

12. What is the importance for predictive analytics in sales?

Predictive analytics in sales helps salespeople turn an otherwise overwhelming amount of data into
clear, easy-to-understand actionable insights that can:
 Help salespeople anticipate how to best reach and connect with future customers
 Predict business and market trends
 Drive the goal-setting process for sales teams
 Help sales teams know exactly what offer to propose, when to suggest it, and even what to say in
their sales script to help increase the likelihood of conversion. Predictive sales analytics uses
predictive algorithms and patterns in historical data to create forecasts, anticipate prospects'
behavior, and inform better campaign designs for both B2B B2C companies.

13. What is marketing?

Marketing is about connecting your company with potential customers and connecting those
customers with your products. It involves understanding customer needs, translating those needs into
products and services, packing and pricing those products and services, and then convincing
customers that they need to buy those products and services.
14.What are the types of sales?

There are two primary types of sales: business-to-business (B2B) and business-to-consumer (B2C).
i)B2B sales
B2B sales involve selling products or services to other businesses. When you work in B2B sales, you
often work with a professional buyer who is very familiar with the selling process.
Examples of B2B sales include:
Wholesale: A coffee bean manufacturer sells large quantities of coffee beans to a cafe that then sells
those coffee beans in smaller quantities to consumers.
Supply: A paper goods company sells paper cups and napkins to restaurants.
Service: A marketing firm works with businesses to increase their presence online.
ii)B2C sales
B2C sales involve selling products or services to consumers. The selling process for B2C sales is
usually much shorter, with many customers making a purchase soon after the prospecting stage.

One example of B2C sales is a representative selling a laptop to a customer at a tech store. Another
example that usually involves more research and prospecting is an insurance salesperson selling a life
insurance policy to an individual.