Business analysts help companies optimize the way they automate, analyze, and optimize their processes within a swarm of data-driven decisions. By leveraging tools for business analytics, businesses 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 application that lets users observe and track the performance of websites in real-time. It is an extremely powerful reporting and visualization tool that offers metrics and key performance indicators (KPIs).
Business analytics is an area that employs statistical analysis and visualization of data to make change based on information available. This advanced method can assist in predicting outcomes by identifying patterns and trends in existing data, and devise a strategy for problem solving and decision making.
This may include identifying repetitive problems in workflows that are present, which prevent companies from operating as efficiently and effectively as they should. Or analyzing market trends in order to create more targeted marketing strategies for reaching out to customers and increasing sales. It can also give businesses an competitive edge by giving them the information they need to make changes to products and services that are more in line with customer demands.
To become a data-driven leader it is essential to have a thorough understanding of the tools and technologies that are changing the business landscape. Students who take part in the Master of Science in Business Analytics Online receive technical instruction and are able to discuss case studies. They also participate in weekly programming assignments to develop the skills needed to understand the new tools and technology.
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