Welcome to Highline Class

BI 348, video number one. This class is about the

basics of business analytics using Excel, and in

this video, we’re just going to look at the

definition of business analytics. And then we’ll get busy

in video number two using Excel to do

business analytics. Slide number three. Hey, we want to remind

ourselves there’s a bunch of prerequisites

for this class. We did a lot of data analysis in

Business 216 and Business 218. This is a computer class, this

is a straight advanced Excel class. And in statistical

analysis, Business 210– those were all

the prerequisites. And guess what? The definition of data analysis

in Business 216 and 218 is right here. And it’s pretty close

to the definition we’re going to use for our BI class. Now, definition

of data analysis. Converting raw data

into useful information for decision makers. Now in these two

classes, we just learned how to use

the computer programs. In Business 210, we use

statistical methods. And our definition there of

statistics– which is really a definition of a type

of data analysis– we defined it as,

statistics is the art and science of collecting,

analyzing, presenting and interpreting raw data

to make informed decisions. Notice the essence

is the same here. We have some raw data,

and we’re converting it into useful information

for decision makers. In 210, we used basic

descriptive statistics, probability, probability

distributions, hypothesis testing,

and other methods. Hey, here is our

definition for this class. Business analytics,

straight from the textbook–

scientific process of transforming data into

insight for better decisions. So the base definition of data

analysis is still the same. We have some data and we need

to convert it into information to make decisions. Now let’s go to our

next slide, slide four. There’s the definition,

straight from our textbooks. Other ways of describing what

we’re going to do– hey– data driven decision making,

fact-based decision making. And the scientific

process just means we’re going to be using

queries, linear regression, and optimization. Now in our Business

216 and 218, we did queries to extract useful

data from our raw data. In Business 210, we did

basic linear regression. In this class, we’ll

get to learn more about linear regression. And then optimization

is something specific to this class that

we have not done so far. Now, business analytics

has three parts. Descriptive statistics, that’s

just describing the past. Predictive analytics,

building models that help us predict

the unknown future. And prescriptive

statistics build models that help predict the

best course of action. Next slide. Descriptive analytics,

here are some examples. Data queries like a

filter in Excel or Access. We did those in

Business 216 and 218. Reports like an

income statement, or regional report, or a pivot

table with multiple criteria– we did that in all of

the prerequisite classes. Descriptive statistics–

mean, median mode, standard deviation,

correlation– we did those in

210, and we’ll have a review of that in this class. Data visualization, we did that

in all the pre-req classes. Charts, tables,

conditional formatting. What if models,

we did that in all of the prerequisite classes. That just means– a what

if model– that means we build our model with some

assumptions or formula inputs. We’d change the

formula inputs and then and everything updates. And data dashboards, we have not

done that in the pre-req class. But that just is one

we collect together items, such as tables, charts,

descriptive statistics that will update as new data arrives. Next slide,

Predictive Analytics. Some examples–

linear regression. We did a little bit of

that in Business 210. Well get to do a lot

more of that here. We’ll do time series

analysis and forecasting. And a topic that is part

of predictive analytics that we will not get

to is data mining. Next slide,

prescriptive analytics. Examples– optimization,

simulation, and decision analysis.

, Now optimization, we’ll get to do some basic

optimization models in this class. Some basic simulation using

native Excel functions. And decision analysis we

will not cover in this class, although we did do a little

bit of this in Business 210. Now, let’s go back

to slide number four. Business analytics–

descriptive, predictive, prescriptive. Next video, video

number two, will start with

descriptive analytics, where we build what if models. And we’ll talk about how to

build good spreadsheet models. All right, we’ll

see you next video.

## 27 Comments

I'm pretty excited for this series.

Currently I'm working on integrated financial statements and I almost finish it but I'm not happy with the way I build it while it's correct.

it's quite complicated and I used long formula sometime using IF statement.

definitely will gain a lot of excellent performance next time after seeing your videos..

Thanks a lot…

I am looking forward to this series! I love the way you teach, keep it up.

Excited for this series.

Thank you sir

Hi there, I would like to say a big thank you as your all the videos are really very helpful. You are really genius..Just wanted to request if you also have tutorials for SQL, SAS and SPSS.. Reading through books is not that easy, I wish I f you had one of SQL tutorial too..Thanks

You are welcome +Carlos Barboza!!!! (not so much a master, as just a guy having fun with Excel!!!)

Excellsfun, I can't find the Busn216 and Busn218, where are they?

@Benny Hill,

Busn 216: https://people.highline.edu/mgirvin/AllClasses/216_2003/216/busn216.htm

Busn 218: https://people.highline.edu/mgirvin/AllClasses/214_2013/214/Busn214_2013.htm

Whats the name of the textbook?

Hi, i would like if you could tell me what videos should i watch to improve my excel skills if i am in the area of sales in a company.

Thanks, love your channel.

Amazing and fantastic series – already on #47 and finding this set of videos incredibly insightful

Hi Mike, Do you recommend I should start with 216 and 218 before starting 348 or just dive straight into 348? I just wanted to say you are classes are awesome by the way.

Mike thanks so much for this series. Useful alot!

Who are you? My H

ero. You have had some amazing videos in the past and this series is going to be exciting

The playlists you have arranged really helps. Do you have more for Business Analytics? Thanks.

This is an outstanding GREAT VIDEO! AWESOME JOB WITH THIS MIKE!!

These classes are awesome! Thanks for being here, willing to share your knowledge with so much passion and dedication. You are a hero!

Once I thought that you were a excel program developer, weren't you?

You are my great teacher.

Every time I try to download the workbook example they must be corrupted since they do not open, I keep getting a disk pace/memory error message. I checked with other files and my excel works fine.

Anybody else have the same problem?

How can I get the files.

[email protected]

Thanks a lot you are great man. God bless you and your family.

For the junior financial analyst that I am these series of videos are heaven sent. Thank you very much for sharing!

This is by far my most favourite YT chanel – I have learnt so much in such a short time. I am so greatful for this. Thank You for make all this information available to us.

These videos are very useful, thank you for sharing.

I started this because i think it has so many things that belong to my work

exciting to start this new section!!!!

Hi, a big thanks to you for all your efforts around 'Basic Excel Business Analytic'. Would it be possible for you to share the presentation slides with me on [email protected]? Thanks in advance.

Excellent Video's. Thank You.