Key Components of Business Analytics
- Descriptive Analytics
- Diagnostic Analytics
- Predictive Analytics
- Prescriptive Analytics
About Business Analytics
Business Analytics (BA) is the practice of using data, statistical analysis, and predictive modeling to drive business decisions and improve performance. It combines technology, data, and business strategy to provide actionable insights, identify trends, solve problems, and forecast future outcomes.
Why Business Analytics Matters
- Enhances decision-making with data-driven insights
- Improves operational efficiency and reduces costs
- Identifies new market trends and customer preferences
- Supports strategic planning and competitive advantage