What is Business Analytics?
It can be termed as the study of business data using statistical techniques and programming for creating decision support and insights for achieving business goals. We use statistical techniques and programming by using only business data and not the entire data for Business Analytics. It’s based on analytical tools like R, SAS, SPSS data. Business Analytics is an important activity in an organization in order to create decision support and get an insight. It will help businesses to achieve their goals. It typically enhances the marketing team to channelize their efforts.
Business Analytics solution typically uses statistical and quantitative analysis, with knowledge of statistical concepts, programming, coding and domain knowledge. Programming is not too significant in this case. If there is no domain knowledge from the user side while using analytics, it will become synonymous to machine learning. For Example, if we are calculating the price of a house and the machine says that pollution is not an important factor for evaluating price, then the user steps in and makes sure that the factor is taken into consideration.
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