Business Analytics - School of Data Science and Business Intelligence

Overview

What is Business Analysis?

Business Analytics is a framework designed to support decision-making processes. This framework combines architecture, database, analytical tools and applications. The main objective of business analytics is to bridge the gap between organization current status and its desired position. It helps organizations achieve commercial success along with sound financial management. Business analytics solutions use statistical and quantitative analysis and fact-based data to measure past performance to guide an organization’s business planning.

Data Science in businesses

Business Intelligence for making smarter decisions
Making Better Products by analysis of customer reviews
Managing Businesses Efficiently by predicting the success rate of their strategies
Predictive Analytics to Predict Outcomes
Leveraging Data to make calculated data-driven decisions
Assesing how decisions affect their performance and growth
Automating Recruitment Processes by use of analytical algorithms like clustering and classification

Any Business that has data can leverage the power of Data Science

Business Analyst

Business analysis has less to do with data and instead focuses on analysing and optimizing the processes and functions that make up a business. Business analysts analyse what a business needs to function optimally and what it needs to improve, and then work to implement solutions. This may include improving processes, changing policies or introducing new technology.

For example, a business analyst may work with both the client, who has a particular requirement in their business and the development team, which either builds a product or delivers a service to fulfil that requirement.