Initially developed for analysing statistics in the 1960s, SAS programming has come a long way since then. From statistical analysis to the graphical representation of data, you can learn SAS to customise it to your field.
Whether you’re into business analysis or medicinal research, SAS can handle huge sets of data and display it in a readable format. So, should you learn SAS?
Check these fifteen stats about SAS programming to find out –
1) SAS is a programming language
While SAS offers a GUI (short for – Graphical User Interface), at its core, it’s a fourth-generation programming language. But it’s designed to reduce the time and efforts you need in analytics.
2) SAS programs only have two kinds of steps
The SAS programs have a combination of only two types of steps – DATA (to manage the data) and PROC (to process and present the data).
3) SAS is the most used tool
It’s the most used tool when it comes to data analysis and business decision making. In fact, SAS programming platform holds about 30.5 per cent of the market share of advanced and predictive analytics. It’s more than double the market share of its nearest competitor.
4) The fifth largest player in Business Intelligence software
SAS is the largest independent software vendor for Business Intelligence software products. With 6.9% market share, the SAS programming language is the fifth largest.
5) 42.6 market share in Health Research
As per a 2011 study, 42.6 per cent of data analysis in health was done with the SAS programming software.
6) SAS reinvests 26% of revenue
Investment in R&D by SAS is more than double the industry average of 12.5%. It invests 26% of its revenue. One of the reasons why you should learn SAS and keep yourself updated.
7) $60 million donations to non-profits
In the US, the company donated more than $59 million worth of software, hardware and training among other things in 2017. And then, there was $1.3 million in cash.
8) Joined 30,000 organisations for volunteering
In 2017, SAS employees in 16 countries volunteered for almost 30,000 organisations as the #GivingTuesday initiative. They raised $300 million in the process.
9) SAS programming software can read other statistical files
If you learn SAS, you can also handle data files created by other packages like SPSS, Excel, Systat and incorporate those in the present system.
10) More than 200 components present
From basic procedures to graphics, data mining, quality control, the SAS software suite has over 200 components.
11) Free learning resources in more than 120 countries
More than 3 million teachers and students access online resources to get prepared for a technology-driven workforce.
12) 65 Analytics Degree Programs worldwide
With the aim to help people learn SAS and other analytical skills, the company has helped to launch 72 masters and undergraduate courses. There also are 172 certification programs.
13) 4000+ people got trained in using analytics
During the guest lectures to universities and various colleges in 2017, more than 4000 students and professors learnt their way into analytics.
14) SAS is more than 40 years old
From its initial release in 1976, SAS programming has been present in the market for 42 years now. One more reason to learn SAS and trust its analysis.
15) Free educational software
By 2017, there were 1.45 million registrations on its free SAS University Edition and SAS OnDemand for Academics software.
16) SAS is easy-to-use
The point-and-click interface of SAS – the SAS Enterprise Guide generates codes to analyse data without the need of programming experience.
Even though with so many features, it’s easy to learn SAS and then, use it for various analysis.
Tag: Business Analytics
How to make Business Analytics Intervention A Success
The era of top-down information flow or Intuition Driven decision making is a thing of the past. Business leaders and professionals, on the whole, are beginning to favor the data-driven or analytics-driven decision-making techniques. People from across the organisation are making business intelligence and business analytics a part of their daily lives. Of course, their expectations with an analytics-driven approach is that the solution will be quick and will work on any kind of data. However, we know that might not be the case always, there are a few challenges, like building a vast interconnected analytics ecosystem. There is a great amount of refining and recognising the right data links between different departments of a business. One also has to ensure that the data focused resource is effectively and efficiently used.
Almost every organisation is using data analytics or business analytics in some capacity. The big question is, ‘How Effectively?’ It is evident that every business head acknowledges how business analytics if used accurately and effectively can impact two areas positively. i.e.
(1) Revenue Increase &
(2) Reduction in the Cost.
According to a survey conducted by Deloitte, a majority of respondents are said to have commented, that in the market-place related areas, the most significant use of data analytics was in identifying methods of increasing sales, by understanding customer behaviour, and hence targeting products and services to segmented audience.
One notices that the awareness is there amongst professionals on the benefits associated with Business Analytics, however the impact on application is not always optimum, every organisation is unable to get as much out of analytics application as it could, let us read on to understand how can we maximise the impact of application, let us uncover the unknown facts of business analytics solution.
Goal –
Have a clear strategy on why and How you are going to initiate an Analytics Solution. Have the What, Why and How in place, along with the Stakeholders.
Data –
Use an analytics tool to find anomalies in the data, and engage people who own that data to fix the process. You can never wait for the perfect data set.
Visualization–
Most of the times the story is nice but not presented well, hence is not impactful. It is the same with data, the way users visualize the data, also influences the way they understand, data should be engaging and visually appealing. Hence a good designer who can create effective dashboards should be engaged.
Promote Analytics –
While software project is mandatory, adoption of analytics is usually voluntary, hence promote and sell analytics, be the pioneer of business analytics across the organisation. Find a success story within the organisation and promote the same within.
Beyond Reports –
Most business analytics or business intelligence arrangements speak through the age-old reports. On the other hand, diagnostics discovery that is finding the why and not just the what rebalances, the focus on exploration capabilities.
Value the Data –
It could be possible that the data present could hold immense potential, it is always good to think of creative uses of monetising the data already available.
While business analytics holds answers and insights that could benefit the organisation, there are certain barriers that need to be worked. Engaging analytics to decision making, Acquiring the right talent, Strategizing accurately, Creating a more central co-ordination for analytics, and Building a smart and modern analytics foundation are steps that can be adapted to plan for this evolution in advance.
What is the Scope of Analytics?
The word analytics has come into focus over the last couple of years. Analytics is considered to be pivotal especially in an era where internet and technology have taken centre stage in our daily lives. Analytics is essentially a field which brings together, Data, Information Technology, Statistical Analysis, Quantitative Methods and Computer-Based Models to one platform.
All this put together to form data, that is accumulated through various ever growing channels, due to the integration of technology in our daily lives, from phones to applications to online movement, any traction on the internet creates data. Analytics done on this data gives decision makers information on which to base their informed decisions.
In recent times, with changing business dynamics, organisations are looking for innovative methods through which they can enhance productivity and cut costs. Companies have large volumes of data being created from almost every area of function.
Performing Descriptive, Predictive or Prescriptive Analytics on this data will assist the organization to identify potential risk areas, understand which areas need intervention and strategy reformation, and with the application of Computer-Based Models also run a simulation, on performance based on the said strategy, and gauge application based on the results.
Hence, the application of analytics in businesses is very vast, if applied with the right vision and strategy, the possibilities are limitless. Analytics can be applied to Customer Service, Acquisition and Retention, Financial Management of an Institution, Supply Chain Management, Human Resource, Government functions, Sports, Marketing, to name a few.
The scope and use of data analytics is not only a global phenomenon, but as it is turning out, India is being considered as a big market for data analytical skill sets. A career in business analytics is very fulfilling and is one of the fastest-paced developments in the current market scenario. India is hence fast becoming the most preferred destination for offshoring data analytics capabilities.
In India, the development or the use and scope of analytics is massive and noteworthy mainly in Media Communications, Outsourcing Companies, Internet business Companies, etc…,
Looking at these trends it is only obvious that the future of analytics will only continue to grow upward.
Outlined below are a few future opportunities in Analytics,
- Since data is expected to grow exponentially in the future, the application of analytics will only increase in businesses.
- Nevertheless, there will be a development of the tools used for data analysis, an example could be ‘Spark’
- One will see an integration of Prescriptive Analytics in the Business Analytics Tool.
- Going forward people will be able to see real-time insights in data and will be able to make real-time decisions.
- Moving forward, Machine Learning will be a necessary element for data preparation and Predictive Analysis for businesses.
- There will be Big Data staffing shortages, but the crunch might ease when companies start using internal training and innovative recruitment approach, Chief Data Officer will be a position that will open up in most organizations.
Whatever the debate on the future application of data analytics might be, one thing is clear, analytics has the capability of impacting the profitability and productivity of a business colossally. Hence, there is no doubt in stating that the ‘Future is in Analytics’.
A List of Great Non-fiction Books That Reveal The Power of Data
Here at Imarticus we believe in continuous learning and this is reflected in the profile of the students in our BAP (R) program, is a comprehensive, short-term business analytics training program in Mumbai that provides aspirants with a thorough understanding of R programming language for effective and efficient data analytics. But it’s not all about textbooks in Business Analytics Professional, as our reading list also focuses on the great non-fiction books that reveal the power of data.
Moneyball –The Art of Winning an Unfair Game
A classic book by Micheal Lewis, the book is the story of how a football manager turned around the fortunes of bleeding Baseball team by using Big Data. Using analytics he identifies underrated and hence, undervalued players in the league to bring them together and build a great team on a budget.
Freakonomics- A Rogue Economist Explores the Hidden Side of Everything
Which is more dangerous, a gun or a swimming pool? What do schoolteachers and sumo wrestlers have in common? How much do parents really matter? These may not sound like typical questions for an economist to ask. But Steven D. Levitt is not a typical economist. He studies the riddles of everyday life—from cheating and crime to parenting and sports—and reaches conclusions that turn conventional wisdom on its head.
Our Business Analytics training program helps you acquire the renowned Business Analytics certification, EMC certification in Data Science and Big Data Analytics.
Credit Card Basics:- Common Types of Credit Cards
I am often asked to lecture on credit card analytics. Invariably, it becomes difficult to figure out where to begin talking on this subject. If I spend time on common lingo used, I lose out on time to focus on the analytics. But then, without understanding the building blocks,it is impossible to understand the complex world of business analytics!! This is primarily because credit cards are the most complicated retail lending product.
So, what are the common types of cards that a bank can issue?
Technically a ‘bank card’ is a card issues by a bank which can perform any one or more of these functions – ATM / Cash card, Debit card or Credit card.
- If you have a Cash Card, you can only take out money from a cash machine, and only as much as you have in your Bank Account.
- If you have a Debit Card, you can take out money from a cash machine and you can use your card to pay for things such as shopping at the supermarket.
- If you have a Credit Card, you can pay for items from shops and, at the end of the month, you will be sent a bill. You then have to pay this bill – if you do not do so, you will be charged interest.
Which are the common Credit cards that the bank issues?
Credit cards can be slotted into three broad categories :-
Private Label Credit Cards (PLCCs) :-
Retailers prefer to have their own card because it offers customers another way to shop with them, there by increase sales. Private label credit cards are cards branded for a specific retailer, independent dealer or manufacturer. Generally, the retailer does not manage the private label card and a third-party (ie, a bank or financial institution) issues the cards and collects the payments from cardholders. Terms and conditions for private label credit cards are made by contracts between the retailer and the third party. Eg:- Walmart credit card, Target credit card etc.
When a third party, such as a bank, manages a private-label credit program for a retailer or manufacturer, it will perform several functions:-
- The issuance of cards
- Funding of credit
- Collection of payments from customers
The criteria for credit are jointly established by the service provider and the retailer and can include, depending on the agreement , the following clauses:
- Reward points and its management
- Underwriter liability with a downside protection clause (to protect bank against loss)
- Upside profit sharing clause (to benefit the retailer for good performance of portfolio)
- Minimum approval rate SLA (to help retailer drive sales)
- Bounty for acquisition -per customer (to benefit the retailer as the sourcing cost for bank becomes low)
Co-brand / Affinity cards:–
A Co-brand or Affinity card is a credit card that is offered by a credit card company which is jointly sponsored by both—a bank and a retail merchant. This type of card can generally be issued more cheaply than private label retail cards. This type of card is designed to give the issuing bank access to the retailer’s customer base. Co-branded cards often come with a variety of incentives, such as discounts or rebates of various types. Cards of this genre are affiliated with specific merchants, and not general professional groups or other types of associations.Thus, the rewards are linked to spend on the brands which are a part of the branding / mentioned in the rules related to the card. However, co-branded cards can also be used with other merchants.
In India, the ICICI Bank Big Bazaar Shakti Credit Card is a co-brand card.
Note :- Co-branding is an arrangement that:
- associates a single product or service with more than one brand name, or
- associates a product with someone other than the principal producer.
The typical co-branding agreement involves two or more companies acting in cooperation to associate any of various logos, colour schemes, or brand identifiers to a specific product that is contractually designated for this purpose.
The object for this is to combine the strength of two brands, in order to increase the premium consumers are willing to pay, make the product or service more resistant to copying by private label manufacturers, or to combine the different perceived properties associated with these brands with a single product. )
Bankcard Credit Card:-
This is the common credit card that all of us know. The terms and conditions are decided by the issuing bank / financial institution, which is the issuer.
Common terms- Credit Cards:-
- Cardholder: The holder of the card used to make a purchase; the consumer.
- Card-issuing bank: The financial institution or other organization that issued the credit card to the cardholder.
- Merchant: The individual or business accepting credit card payments for products or services sold to the cardholder.
- Acquiring bank: The financial institution accepting payment for the products or services on behalf of the merchant.
- Independent sales organization: Resellers (to merchants) of the services of the acquiring bank.
- Merchant account: This could refer to the acquiring bank or the independent sales organization, but in general, it is the organization that the merchant deals with.
- Credit Card association: An association of card-issuing banks such as Discover, Visa, MasterCard, American Express, etc. that set transaction terms for merchants, card-issuing banks, and acquiring banks.
- Transaction network: The system that implements the mechanics of the electronic transactions. May be operated by an independent company, and one company may operate multiple networks.
- Affinity partner: Some institutions lend their names to an issuer to attract customers that have a strong relationship with that institution, and get paid a fee or a percentage of the balance for each card issued using their name.
- Insurance providers: Insurers underwriting various insurance protections offered as credit card perks
- APR/ Nominal APR: Annual percentage rate (APR), is the interest rate (finance charges) for the whole year (annual).. Also called IRR in the Indian market, the nominal APR is the simple-interest rate (for a year).
- EAR /Effective APR: Effective / actual interest rate for a whole year (annualized). The effective APR is the fee+ compound interest rate (calculated across a year).
These are commonly used terms and you can view detailed descriptions of each term at https://en.wikipedia.org/wiki/Credit_card /
https://www.investopedia.com/university/credit-cards/.
Coming up next: In the next post we will explore more about metrics that are used to track credit card portfolios.