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Introduction
An internal consultancy role responsible for
investigating business situations, identifying and
evaluating options for implementation business
systems, defining requirements and ensuring the
effective use of information systems in meeting
the needs of the business.
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Definition
Business analytics (BA) is the practice of iterative,
methodical exploration of an organization’s data with
emphasis on statistical analysis. Business analytics
is used by companies committed to data-driven
decision making.
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1. Decisive analytics: supports human decisions with
visual analytics the user models to reflect
reasoning.
2. Descriptive Analytics: Gain insight from historical
data with reporting, scorecards, clustering etc.
3. Predictive analytics (predictive modelling using
statistical and machine learning techniques)
4. Prescriptive analytics: recommend decisions using
optimization, simulation etc.
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Users of Business Analytics
1. Students
2. Business man
3. Accountants
4. Organization
5. Companies
6. Group of industries
7. Small firm
8. Auditors
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Benefits of Business Analytics
1. Better Decision Making
2. Better Enablement of key strategic
initiatives
3. Better Relationship with Customers
4. Better sense of Risk
5. Better Financial Performance
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Conclusion
Study of Business Analytics is best way to
analyzed pervious and present data of a particular
firm and forcesting the future. With the help of data
and some tools and techniques. Not only Analyzed
also give the best solution of a problem.