In an age where data drives decisions business analysts help businesses to streamline, optimize and analyze their processes in order to achieve the best results. Utilizing tools for business analytics, companies can improve their decision-making processes and increase profits.
A typical example of a business analytics tool is Google Analytics, a free online analytics software application that lets users monitor and track website performance in real time. It is an efficient data visualization and reporting tool that provides metrics as well as key performance indicators (KPIs) and historical business reports.
Business analytics is an area that uses statistical analysis and visualisation of data to effect changes based on the information available. This advanced type of business intelligence can help predict outcomes, recognize trends and patterns in existing data and formulate a more strategic approach to solving problems and making decisions.
This could include identifying and addressing recurring issues within existing workflows that hinder companies from operating as efficiently as they should, or analyzing market trends to develop more targeted strategies to reach customers and increasing next page sales. It can also aid businesses in gaining a competitive edge by providing the information necessary to make changes to their products and services to better meet the needs of consumers.
To become a data-driven leader it is crucial to have a thorough understanding of the analytics tools and technologies that are transforming the business landscape. Through the Master of Science in Business Analytics online program, students are taught technical skills along with case studies, and take part in weekly programming projects to develop the skills they require to master the latest tools and technologies.
