Business Analytics and Tools
- (Harvard University - Joyce Yang)
- Overview
Business analytics (BA) is the process of using data to help businesses make better decisions. Companies can use BA to solve problems, monitor their business, identify growth opportunities, and improve customer service.
Some tools used in BA include:
- Data visualization: Helps people understand data by representing it visually, such as in a graph or pie chart
- Predictive analytics: Uses statistical models and machine learning to analyze data and predict future outcomes
- Descriptive analytics: Analyzes historical data to identify patterns and relationships, and is often presented in reports or dashboards
- Data mining: Searches and analyzes large amounts of raw data to identify patterns and extract useful information
Other types of BA include diagnostic analytics, prescriptive analytics, and cognitive analytics. When used together, these different types of analytics can be very powerful.
[More to come ...]
