Business Analytics is the combination of skills, technologies, tools, applications, and processes used by organizations to gain insight into their operations based on data and statistics to drive business planning and growth.
In today’s globally competitive environment, there is an ever-increasing need for advanced information and decision support systems. The profitability and the overall business can be managed better with access to predictive tools to predict, even approximately, the market prices of raw materials used in production, for instance. Business Analytics involves among others, quantitative techniques, statistics, data and analysis tools, and econometric models.
Business Analytics is a mixture of Data Analytics, Business Intelligence, and Computer Programming. It is the science of analysing data to find out patterns that will be helpful in developing strategies. Its usage can be found in almost every industry.