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BUSINESS ANALYTICS
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What is Business Analytics

• Business analytics (BA) is the act of iterative,
  orderly investigation of an organization's data
  with accentuation on statistical analysis.
  Business analytics is utilized by organizations
  focused on data-driven decision making.

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Types of Data Analysis

• Descriptive Analysis
• Diagnostic Analysis
• Predictive Analysis
• Prescriptive Analysis

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Descriptive Analysis

• It is at the establishment of all data insight.
  It is the least difficult and most common use of
  information in business today. Descriptive
  analysis answers the "what happened" by summing
  up past data, generally as dashboards.
• The greatest utilization of Descriptive analysis
  in business is to follow Key Performance
  Indicators (KPIs). KPIs depict how a business is
  performing dependent on picked benchmarks.

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Diagnostic Analysis

• Diagnostic analysis takes the bits of knowledge
  found from descriptive analytics and penetrates
  down to discover the reasons for those results.
  organizations utilize this sort of analytics as
  it makes more associations among information and
  recognizes patterns of behavior.

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Predictive Analysis

• This sort of analysis is another progression up
  from the descriptive and diagnostic analyses.
  Predictive analysis utilizes the information we
  have summed up to make intelligent forecasts of
  the results of occasions. This analysis depends
  on measurable demonstrating, which requires added
  innovation and manpower to forecast. It is
  additionally critical to comprehend that
  determining is just a forecast the exactness of
  forecasts depends on quality and detailed data.

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Prescriptive Analysis

• Prescriptive analysis is the frontier of data
  analysis, joining the knowledge from all past
  analysis to decide the strategy to take in a
  current issue or choice.
• Prescriptive analysis uses best in class
  innovation and information rehearses. It is a
  tremendous authoritative duty and organizations
  must be certain that they are prepared and ready
  to invest the energy and assets.

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Advantages of Business Analytics

• Helps you monitor the progress of your mission
• Helps increase efficiency
• Helps you be updated
• Get insights into customer behavior
• Identify cross selling and up Selling
  opportunities

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Disadvantages of Business analytics

• Lack of alignment, availability and trust
• Lack of Commitment
• Low quality of underlying transactional data

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Users of Business analytics

1. Students
2. Business man
3. Accountants
4. Organization
5. Companies
6. Group of industries
7. Small firm
8. Auditors

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Famous software for business analytics

1. SAP Business Intelligence
2. MicroStrategy
3. SAS Business Intelligence
4. Zoho Analytics
5. Microsoft Power BI

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For more information
To learn more about Business analytics enroll in
the Business analytics course offered by Henry
Harvin. Learn from experts and be on top.
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About Henry Harvin

• Henry Harvin is a leading career and competency
  development organization with focus on value
  creation. We are into the business of training,
  skill development, assessment centers, content
  services and higher education. Our dream is to
  establish 'Henry Harvin' in line with the vision
  of Mr.Henry Dunster 400 years ago which now
  resonates in the form of a prestigious
  educational institution respected worldwide.

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