Business analytics (BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods.
Business Analytics is a process on transforming data into insights that support, improve, and/or automate business decisions. In this course you will learn the basics from the definition of Business Analytics through some of the statistical methods used to build models that drive business insights
Introduction to Business Analytics - 1
Introduction to Business Analytics - 2
Selecting, Filtering, and Sorting
Formulas
Unions and Joins
Aggregation
Contingency Tables
Measures of Distribution
Measures of Variation
Distribution Visualizations
Sampling Basics
Bivariate Data and Correlation
Information Theory and Entropy
Analytical Reports
Automation
Regression
Storytelling With Data
Business analytics takes a data-driven approach to the world of business, using statistics and data modeling to develop new business insights. This blend of technology and business makes it an ideal study option for anyone with an interest in programming or working with big data.
With BI getting more prominent, there has been a rise in confusion between business intelligence (BI) and business analytics (BA). Business Intelligence uses past and present to drive current business needs. Business Analytics analyses only the past data to drive current needs. Business Intelligence runs current business operations. Business Analytics changes business operations and improves productivity.
Business Analytics is generally implemented with the goal of identifying actionable data. Business intelligence is typically descriptive, focusing on the strategies and tools utilized to acquire, identify, and categorize raw data and report on past or current events. Business analytics is more prescriptive, devoted to the methodology by which the data can be analyzed, patterns recognized, and models developed to clarify past events, create predictions for future events, and recommend actions to maximize ideal outcomes.
You don't actually need IT skills to become a business analyst. You need the following skills: communication, problem-solving, critical thinking, documentation and specification, analysis, facilitation and elicitation, relationship building and self-managing skills. However, if you want to be a business analyst on an IT project, you will need to have a technical understanding.
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