Business Analytics

Business analytics (BA) is the science of usefully combining skills, technology, applications and processes in use by the organizations for the purpose of gaining an insight to the business, usually based on available data and statistics for the purpose of business planning. Business analytics is used to evaluate the organisation’s operations.

It is implemented in all departments within the organisations, that is, production, sales and marketing as well as human resource departments. Business analytics can be in form of data exploration to find out new trends, data analysis to explain a certain situation, experiments purposed to test decisions e.g. A/B testing and forecasting.

Business analytics is more important in data driven companies since their value their data and it is usually the basis for their competitive advantage. The success of business analytics is dependent on the quality of data obtained, skills of the analysts as well as organisational commitment to their data driven decision making.

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