What is Data Analytics ?
Analytics is the use of:
- 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