The Essence of Business Analytics: From Data to Decisions

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Rina7RS
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The Essence of Business Analytics: From Data to Decisions

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Business analytics is the process of using data, statistical analysis, and quantitative methods to uncover important insights that help make informed business decisions. In our rapidly changing world, the ability to make good decisions is becoming a critical skill.

Initially, business analytics starts with data – raw facts and figures collected through various channels: customer feedback, online transactions, social media , and more. This data then needs to be cleaned and structured. Analysts use specialized software to process the data and find patterns in it.

After data processing comes the analysis stage. At this stage, analysts try to understand cause-and-effect relationships and trends. An important tool here is data visualization – graphs, charts, heat maps, which help to easily understand complex patterns.
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