BUSINESS ANALYTICS: ANALYZING BUSINESS DATA IN AN EFFECTIVE WAY
Keywords:Analytics, big data analytics, management analytics, business intelligence, marketing analytics
Business analytics (BA) is a combination of disciplines and technology for solving business challenges using data analysis, statistical models and other quantitative methods. It involves an iterative, rigorous investigation of an organization's data, with an emphasis on statistical analysis, to drive decision-making. Big data and business analytics have gained prominence in the recent decade, and firms must learn how to use them to create value. Despite the relevance of these concerns, little research has been done from an organization's perspective. An organization must integrate analytics to improve decision-making. Data analysis gives organizations practical insights from daily data. These insights help companies make decisions, solve problems, understand client demands, and identify trends. Business intelligence solutions link data sources, do extensive data analysis, develop interactive dashboards, generate actionable insights, and streamline decision-making. This paper discusses implementing analytics via developing a team and leadership, involving stakeholders, and using Business Intelligence tools.
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