Business Analytics: A Brief Overview


“The study of data through statistical and operations analysis, the formation of predictive models, application of optimization techniques, and the communication of these results to customers, business partners, and college executives,” is termed as business analytics. It uses both quantitative techniques and evidence-based data for smooth decision-making, with big data in the heart of the things.

The most important thing to keep in mind about big data is that the quantity of data is not as significant as the analytics that comes with it - the companies analyze big data to gain significant insights that bolster better business decisions and poise strategic moves.

Data-Driven Decision Making

Importantly, companies require business analytics for data-driven decisions. It gives them a strong competitive advantage and keeps them on the edge against its tailing competitors. The insights generated through business analytics helps companies in automating and optimizing their business processes, and here’s how:

  • Through data mining
  • A thorough understanding of why certain results occur with a comprehensive statistical and quantitative analysis
  • By running a detailed analysis on previous data using multivariate testing and A/B testing
  • By using predictive analytics to forecast future events
Difference between BI and BA

Apparently, business intelligence and business analytics look similar, but has subtle differences. BI refers to the process of collecting data from all sources and developing it for BA. While it’s the first step of analytics decision-making, business analytics is a collection of answers provided through business intelligence. Where Business Intelligence answers what happened, analytics look into why it happened.

So are you interested in the field of business analytics but don’t know the nitty gritty of the subject matter – Techtree India’s business analytics certification is here. Check out the course module now.

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