Business Analytics
Business analytics is the practice of iterative, systematic assessment of an organization’s functions – be it sales, marketing, operations, financial risks or any other forecasting – from the perspective of data analysis and statistics. Effective business analytics depends on expert analysts understanding the business, Gathering quality data [using the right technologies] as well as finding trends [using statistics and computing acumen] among various business variables which finally results in efficient data-driven decision making. In today’s competitive and global business environment, it is the organization which is dedicated to data driven decision making that can survive and beat their competition via understanding their customers better and delivering timely cost effective solutions.
Where can one use Business Analytics?
- Enterprise Analytics
- Customer Analytics
- Financial Analytics
- Public Sector Analytics
- Social Media Analytics
What are some examples of Business Analytics?
- Data Mining – Scrutinizing data to discover new patterns and relationships
- Quantitative analysis – Finding the reason for any certain result ensued
- Multivariate testing – Experimenting to test previous decisions
- Predictive analytics – Anticipating future results
Business analytics is a very useful tool for gaining insights of any business, as it assists in automating as well as optimizing the business process. Data-driven enterprises consider their data as a company asset and control it for viable advantage.
Contact us for details of our Business Analytics & BI services, and experience how we can help you be an efficient data-driven enterprise.
