Analytics Introduction

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Business analysis or say analytics raised to the skills, technology, practices for exploring and investigating past enterprise performance to gain insight and power enterprise planning. Based on data and statistical methods it focuses on developing new insights and understanding of business performance. On the contrary business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning. Also based on data and statistical methods.

To drive decision making BA makes considerable use of statistical analysis, comprising explanatory and predictive modeling, and fact-based management. Analytics may be utilized as statistics for human decisions or may drive fully automated decisions.

Simply, analytics convert data into useful information. Analytics is an older term commonly applied to all disciplines, and not just business. A quintessential example of the use of analytics is the weather measurements collected and converted into statistics, which in turn predict weather patterns.

Business analytics is the scientific process of transforming data into insight for improvising decision making. It’s utilized for data-driven or fact-based decision making, which is often seen as more objective than other alternatives for decision making.


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