|
Business analytics is a term that refers to the applications, practices, skills, and technologies that are necessary for a complete investigation of a company's past business performance. This discipline helps business owners and executives to obtain valuable insight about how their particular businesses are performing, on average. It also helps them to determine how to plan successfully for improvement.
Business analytics comprises a great many techniques that deal with statistics. The most commonly used of these are product tracking systems and surveys. When these techniques are applied accurately, they open up numerous avenues of opportunity for organizations to optimize and augment their business model.
Many organizations work on the principle of business analytics and take decisions on their basis. Business Analytics is an analytical method of problem-solving and decision-making that is useful in the management of organizations. It is the ability to analyze and take decisions on the basis of analytical reports generated from a huge bulk of data. |
|
It uses quantitative techniques for decision-making in business |
 |
It helps you to know where you stand in the markets
Shows rise and fall in your company
Uses a large amounts of data
We can achieve better analysis, accurate results, optimal performance, and success
Use statistical data analysis to drive fact-based decisions.
Build descriptive and predictive models and deploy over the organization.
Analyze and predict results based on historical patterns.
Apply statistical methods to economic data, problems and trends.
|
|
The science of business analytics is used to evaluate organization-wide operations. Each department, from sales to marketing and product development to customer service, can benefit from a closer look at customer behavior. Making the time to analyze data and create predictive models will yield calculable results. |
|
