Business Analytics

The word analytics has come into the foreground in the last decade or so. The increase of the internet and information technology has made analytics very relevant in the current age. Analytics is a field which combines data, information technology, statistical analysis, quantitative methods, and computer-based models into one. This all is combined to provide decision makers with all the possible scenarios to make a well thought out and researched decision. The computer-based model ensures that decision makers can see the performance of a decision under various scenarios. Business Analytics is a field of study and practice that involves the use of data analysis, statistical methods, and predictive modeling to drive business decision making and improve overall performance. It leverages data driven insights to help organizations make informed choices, optimize processes, and achieve strategic goals. Business Analytics is a dynamic and evolving field, continually influenced by advancements in technology and methodologies. Organizations that effectively leverage business analytics can gain a competitive advantage by making more informed, data driven decisions.