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BUSINESS ANALYTICS Business analytics (BA) is the practice of iterative, methodical exploration of an organization’s data with emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision making. BA is used to gain insights that inform business decisions and can be used to automate and optimize business processes. Data-driven companies treat their data as a corporate asset and leverage it for competitive advantage. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business and an organizational commitment to data-driven decision making. Examples of BA uses include: * Exploring data to find new patterns and relationships…show more content…
The upgrade will allow Best Buy staff to access Insight Analytics through Microsoft Sharepoint. METHODS OF ANALYSIS IN BUSINESS DECISION * Descriptive Analytics: Gain insight from historical data with reporting, scorecards, clustering etc. * Predictive analytics predictive modeling using statistical and machine learning techniques. * Prescriptive analytics: recommend decisions using optimization, simulation etc. These methods help in business decision making. Business Analytics Framework You have data everywhere. You have business problems that you know you could solve with that data. But you don’t know where to start. The beauty of a framework is that it helps you focus. It encourages you to find the most pressing – yet fixable – problems, solve them first and build from there. Once you’ve used SAS to solve your most critical problems, you can build on that success and add more functionality over time. As new capabilities are added, your benefits continue to multiply and your total cost of ownership is reduced. Data Integration Always access and process the data you need. Improve data integrity at the source with automatic processes that consolidate, cleanse and standardize your data directly in your operational environments. Offer a collaborative environment with a common set of tools that promote the reuse and sharing of data to achieve faster results and lower costs. Deliver consistent, trusted and verifiable
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