Business AnalyticsBusiness analytics (BA) refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods.
Business analytics makes extensive useofdata, statistical and quantitative analysis,explanatory and predictive modeling, andfact-based management to drive decisionmaking. Analytics may be used as inputfor human decisions or may drive fullyautomated decisions.
It can answers questions like :how do we get more insights about ourcustomers?what if we change the price or service of theproducts ?what will be the impact on our customers ?How do we target our most profitable customers?How do we detect frauds ?which of the customers are likely to leave us infuture?
Types of analytics Exploring data to find new patterns and relationships (data mining) Explaining why a certain result occurred (statistical analysis, quantitative analysis) Experimenting to test previous decisions (A/B testing, multivariate testing) Forecasting future results (predictive modeling, predictive analytics)
Requirements for Business Analyst : You should understand the various characteristic features of the software and then attempts to solve the problems faced in the current working or you may try to better the current working whatever the client wants to be done You should be able to fulfill the clients needs and specifications from the project You should be aware of the norms, laws, working, competitors, software, technical know-how, rules, procedures of the industry and the clients business in particular You must be able to draft the clients specifications in a format that is feasible to work upon You must be able to understand and envision how the clients project can be embarked upon by the technical team of software developers and programmers You must also have the technical know-how that is necessary to understand how your technical team will go about working on the project You must understand the technical teams problems and help in solving them You must explain the client specifications in a format the technical team will understand Once the client specifications are properly drafted, and the technical team is briefed about the project, then they can start working on the technical part of the project. You must play a lead role to help them and to supervise the project to check if the timelines assigned to the project are being adhered to You must work as a bridge between the developers and the end user. Kindly bring in the copies of certificates and testimonials regarding the qualification and experience, projects handled, etc.