Business Analytics is the practice of using data and statistical methods to drive informed decision-making in businesses. It involves analysing past performance (descriptive analytics), predicting future trends (predictive analytics), and recommending actions for optimization (prescriptive analytics).
Business Analytics is the practice of using data and statistical methods to drive informed decision-making in businesses. It involves analysing past performance (descriptive analytics), predicting future trends (predictive analytics), and recommending actions for optimization (prescriptive analytics). By leveraging tools like Excel, SQL, and Tableau, business analysts help organizations enhance operations, improve customer experiences, and boost profitability. Business analytics is used across various functions, including marketing, finance, and operations, to uncover insights that improve strategic decisions. As businesses rely more on data-driven strategies, the demand for skilled business analysts continues to grow.
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Use historical sales data to analyze past performance and forecast future sales, providing actionable insights for business planning.
Segment customers based on their behavior and characteristics to optimize marketing efforts and improve customer targeting.
Use simulation techniques to optimize business processes, improve efficiency, and reduce costs.
Analyze the relationship between marketing spend across different channels and sales, and optimize marketing allocation for maximum ROI.
Build a predictive model to identify customers at risk of leaving the business, and recommend retention strategies.
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