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Ba 670 Week 7 Business Analytics

1088 Words5 Pages

BA 670
Week 7
Business Analytics Research Paper
JoAnn Calderon
Brenau University

Abstract Business analytics is used by firms that are dedicated to using data when making decisions for the organization. Business analytics is primarily used to help companies obtain an understanding of information gathered to make business decisions that can be applied to the automation and optimization of its business processes. Business analytics can be placed into three categories: descriptive analytics, predictive analytics and prescriptive analytics. In this paper, business analytics will be defined. This paper will also discuss the three business analytics categories and how each type can be used. The importance of business analytics to integrated …show more content…

Business analytics is used by companies to convert collected information into practical data that is usable for optimizing performance (Griffin, 2010). It includes almost all data analysis activities a company conducts. “Business analytics includes predictive analytics and modeling, performance management, business intelligence (BI) and data management” (Griffin, 2010). The foundation of business analytics is statistical data which is used to determine or predict possible outcomes (Galleto, 2017). These potential outcomes are then used to make smarter business decisions and to plan strategy moves (Galleto, 2017)
Benefits of Business Analytics
Molly Galetto, of NG Data identifies some of the benefits a company can receive from implementing business analytics in its decision-making process. Some of these benefits includes:
• The ability to carry out data mining in order to discover new patterns and relationships.
• The capacity to conduct statistical and quantitative analyses that are capable of explaining the reasons why a particular result …show more content…

(2017). Halo Business Intelligence. Retrieved from www.halobi.com/blog/descriptive-predictive-and-prescriptive-analytics-explained
Four types of big data analytics and examples of their use. (2017). Ingram Micro Advisor. Retrieved from www.ingrammicroadvisor.com/data-center/four-types-of-data-analytics-and-examples-of-their-use
Galetto, M. (2017, June 9). What is business analytics? NG DATA. Retrieved from www.ngdata.com/what-is-business-analytics/
Ghosh, P. (2017, July 6). Fundamentals of descriptive analytics. Dataversity. Retrieved from www.dataversity.net/fundamentals-descriptive-analytics/
Griffin, J. (2010). Deep analytics: What it is, and how do I do it? Information Management, 20(5), 52. Retrieved from https://ezproxy.brenau.edu:2040/login?url=https://search-proquest-com.ezproxy.brenau.edu:2040/docuview/756038893?accountid=9708
Integrated business planning. (n. d.). TechTarget. Retrieved from www.searcherp.techtarget.com/definition/integrated-business-planning-IBP
Integrated operations. (n. d.) BusinessDictionary.com. Retrieved from

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