Analytics (TBA)

Strategic Analytics

AI can process large datasets quickly and accurately, providing actionable insights that drive business growth.Machine learning algorithms can uncover hidden patterns and correlations, helping businesses make data-driven decisions.AI can also enhance customer segmentation, sales forecasting, and performance analysis.

Business analytics is the process of using data to help businesses make better decisions. It involves analyzing data to understand what happened in the past, predicting what might happen in the future, and determining the best actions to take.

How is Business Analytics Used?

Improve operations:

Identify inefficiencies and bottlenecks, and streamline operations.

Understand customers:

Gain insights into customer preferences, purchasing patterns, and behaviors.

Predict the future:

Use historical data to predict future outcomes.

Make strategic decisions:

Use data-driven forecasts to make decisions based on insights rather than intuition.

Evaluate performance:

Monitor and measure key performance indicators (KPIs).

Gain a competitive advantage:

Use advanced data analysis to uncover patterns, correlations, and trends.

What Tools are Used in Business Analytics?

  • Data management
  • Data visualization
  • Predictive modeling
  • Data mining
  • Forecasting simulation
  • Optimization
  • Integrated dashboards

What is the Process for Business Analytics?

1. Data preparation

Remove duplicate or irrelevant data, fill in missing data, and transform data into a format suitable for analysis.

2. Data analysis

Apply statistical and analytical techniques to identify patterns, relationships, and trends.

3. Data visualization

Use charts, graphs, and other visualization techniques to communicate the insights.

4. Business intelligence reporting

Compile the insights into reports that are distributed to decision-makers.