Whenever we take any decision in our life, very first thing we do is- an analysis of situation and analysis of alternatives available to us, also analysis of risk associated with it. It means everywhere and in every phase of our life may be personal or professional all the success depends on our analytical skills.
In our personal life we improve this skill with the experience but in business there are so many tools and techniques available through which we can take right decisions at the right time. These techniques are known as Business Analytics. These techniques are a part of the curriculum of Bachelor of Business Administration (BBA). This course is offered by many Top BBA colleges in Greater Noida.
Mangalmay Institute of Management &Technology also belongs to the category of Best BBA Colleges in Greater Noida and here we do have this subject as an additional subject along with the other traditional management subjects. Various visiting faculties comes from the other well reputed universities and corporate houses to give hands on practical as well as theoretical knowledge on the various topics related with business analytics.
What is Business Analytics, its applications and relation with various business domains?
Business analytics (BA) is the practice is iterative methodical exploration of an organization’s data, with an emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision-making.
TYPES OF ANALYTICS
- Decision Analytics
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
While the two components of business analytics — business intelligence and advanced analytics are sometimes used interchangeably, there are some key differences between these two business analytics techniques.
BUSINESS ANALYTICS APPLICATIONS
- Business analytics tools come in several different varieties
- Data visualization tools
- Business intelligence reporting software
- Self-service analytics platforms
- Statistical analysis tools
- Big data platforms
ASSOCIATION WITH BUSINESS DOMAIN
- Financial Service Analytics
- Marketing Analytics
- Pricing Analytics
- Retail sales Analytics
- Risk and Credit analytics
- Supply Chain Analytics
- Transportation analytics
- Cyber Analytics
- Enterprise optimization
Business Analytics is critical for remaining competitive and achieving success. When you get BA best practices in place and get buy-in from all stakeholders, your organization will benefit from data-driven decision making.
For More Information
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