Business analytics is the process of transforming data into insights to improve business decisions . Data management, data visualization, predictive modeling, data mining, forecasting simulation, and optimization are some of the tools used to create insights from data. Let’s start by differentiating between data analytics and traditional analytics . The terms are often used interchangeably, but a distinction does exist. Traditional data analytics refers to the process of analyzing massive amounts of collected data to get insights and predictions. Business data analytics (sometimes called business analytics) takes that idea, but puts it in the context of business insight, often with prebuilt business content and tools that expedite the analysis process. Specifically, business analytics refers to: Taking in and processing historical business data Analyzing that data to identify trends, patterns, and root causes Making data-driven business decisions based on ...
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