What Is Business Analytics? Defined In 200 Words

  • Posted on : October 27, 2019
  • Author : SPEC INDIA
  • Category : BI

Business-Analytics

Business analytics (BA) is the iterative, systematic investigation of a company’s data, with a prominence on statistical study. It is used by organizations that are dedicated to taking data-driven choices.

BA looks interchangeable with Data Science or Business Intelligence, but it is not.

Types of Business Analytics

Business-AnalyticsDescriptive Analytics

Offers picture-perfect visual synopses and insights into business data by looking at past data through patterns, trends, matrices, reporting, score cards, clustering, dashboards and analytical reports.

Predictive Analytics

Offers a foresight into the future movements, a look into the predictive score of each element, an in-depth and real-time analysis of business information with predictive modeling and machine learning methods

BAPrescriptive Analytics

Goes a step ahead of the other two. Suggests multiple likely actionable items by taking advantage of predictions, with optimization and simulation. Prescribes variety of options for solutions and corresponding guidelines.

Business Analytics Tools Must Be

  • Instinctive, easy-to-use and customizable
  • Natural language interface and API-driven
  • Capable of finding patterns in data and recommending visualizations
  • Able to combine multiple sources of complex data
  • Supportive for large-scale data analysis techniques

Popular BA Tools

SAS business analytics, R, Python, Apache Storm, Apache Spark, Tableau, Qlikview, Dundas BI etc.

Author: SPEC INDIA

SPEC INDIA, as your single stop IT partner has been successfully implementing a bouquet of diverse solutions and services all over the globe, proving its mettle as a boutique ISO 9001:2015 certified IT solutions organization. With efficient project management practices, international standards to comply, flexible engagement models and superior infrastructure, SPEC INDIA is a customer’s delight. Our skilled technical resources are apt at putting thoughts in a perspective by offering value-added reads for all.