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What is Data Analytics ?

 

Analytics is the use of:

  •   data,
  •   information technology,
  •   statistical analysis,
  •   quantitative methods, and
  •   mathematical or computer-based models

to help managers gain improved insight about their business operations and make better, fact-based decisions.

 

 

What is Business Analytics ?

 

 

Business analytics is used to evaluate and optimize business operations. Computer science, math, and business skills are required to provide a well-rounded look at a company and the data behind it.

Importance of Business Analytics

  • There is a strong relationship of BA with:

  – profitability of businesses

  – revenue of businesses

  – shareholder return

  • BA enhances understanding of data
  • BA is vital for businesses to remain competitive
  • BA enables creation of informative reports