Business Analytics Professional
The process of gathering, analyzing, and processing data in order to make wise business decisions is known as business analytics. To analyze data and find trends or insights, it combines data mining, statistical analysis, and predictive modeling. Assisting businesses in making data-driven decisions that can boost productivity, boost profits, and lower risks is the aim.
Important Business Analytics Elements:
1. Descriptive analytics: Offers information about historical events that have occurred within the company. To identify trends and patterns, it involves reporting, summarizing, and aggregating data.
2. Diagnostic analytics: This approach aims to determine the cause of an event. It entails more in-depth data analysis, frequently with correlations, data discovery, and drill-down methods.
3. Predictive analytics: Based on past data, this approach forecasts future events using statistical models and machine learning methods. This aids companies in projecting future trends, consumer behavior, and possible hazards.
4. Prescriptive analytics: Makes suggestions for how to achieve desired results. To recommend the optimum course of action, optimization techniques and simulation are frequently used.
5. Data visualization: The process of displaying data in a graphical manner to facilitate fast understanding of insights by stakeholders. Dashboards, charts, and graphs are examples of frequently used tools.
GRAStech a division of GRAS Education and Training Services Pvt. Ltd (popularly known as GRAS Academy) recognized as one of India’s premier institutions for vocational training and skill development having more than 35 operating training centers across 10 states and is one of the National Skill Development Corporation’s funded training partner.
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