Business Analytics (BA) refers to all the methods and techniques that are used by an organization to measure performance, in other words investigation of past business performance to gain insight and drive business planning by understanding of business performance based on data and statistical methods which helps business to take make decisions.
Business Analytics helps to predict and prevent
Business Analytics is an extension of Business Intelligence; ex: BI always try to find what happened, how many, how often, where the problem is, and what actions are needed. Business analytics can answer questions like why is this happening, what if these trends continue, what will happen next, what is the best that can happen
Business Analytics is driven by business professional and try to identify why it happened
Business Analytics helps Business…:
- Improving the decision-making process.
- Speeding up the decision-making process.
- Better alignment of resources with strategies.
- Realizing cost efficiencies.
- Responding to user needs for availability of data on a timely basis