Business analysts assist businesses in optimizing their processes, automate and analyze their processes within a swarm of data-driven decision-making. Through the use of tools for business analytics, companies can improve their decision-making capabilities and increase profits.
A common example of a business analytics tool is Google Analytics, a free online analytics software program that lets users track and monitor the performance of websites in real time. It is an efficient data visualization and reporting tool that gives metrics and key performance indicators (KPIs) and historical business reports.
The business analytics field uses statistical analysis and data visualization to make organizational changes based on the data available. This advanced approach can assist in predicting outcomes as well as identify patterns and trends in existing data, and formulate an approach to problem solving and decision-making.
This may include identifying repetitive issues in existing workflows that hinder companies from operating effectively and efficiently as they should. Also, analyzing trends in the market to help develop more targeted marketing strategies for reaching customers and increasing sales. It can also assist businesses to gain a competitive edge by providing the insight required to adjust their products and services to better match consumer needs.
It is vital to be aware of the analytics tools and technology that are changing the way businesses operate. Through the Master of Science in Business Analytics online program, students receive technical training and discuss case studies. They also participate in weekly programming projects to acquire the skills they require to master these new tools and technologies.