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Business Analytics

Business analytics allows executives to make data-driven decisions by evaluating long-term market trends and identifying ways to improve processes and employee productivity. Business intelligence visualizes data to gain insights into business performance, while business analysts analyze specific data segments and dashboards to forecast and formulate hypotheses. Business intelligence and analytics are interconnected, as analysts rely on intelligence data to inform decisions that help businesses make smarter choices. During the COVID-19 pandemic, business analytics provides a reliable metric for determining short- and long-term strategic responses to challenges by understanding customer needs based on integrated internal and external data. However, collecting both internal operational data and external customer feedback presents challenges for data quality and privacy concerns.

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Crizele Joy Laguda
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288 views3 pages

Business Analytics

Business analytics allows executives to make data-driven decisions by evaluating long-term market trends and identifying ways to improve processes and employee productivity. Business intelligence visualizes data to gain insights into business performance, while business analysts analyze specific data segments and dashboards to forecast and formulate hypotheses. Business intelligence and analytics are interconnected, as analysts rely on intelligence data to inform decisions that help businesses make smarter choices. During the COVID-19 pandemic, business analytics provides a reliable metric for determining short- and long-term strategic responses to challenges by understanding customer needs based on integrated internal and external data. However, collecting both internal operational data and external customer feedback presents challenges for data quality and privacy concerns.

Uploaded by

Crizele Joy Laguda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Business Analytics

What are Business Analytics:


1. Explain the relationship of the Business analytics with the organization decision-making
process
= Data analytics allows Executives to make decisions based on statistical facts. Those facts can
be used to guide choices about future company growth by evaluating a long-term view of the
market and competition. Data analytics can help Executives decide how to streamline
processes by using visualizations identifying the productivity in each area of the company,
including employee management. By identifying actionable insights, a manager can determine
the most effective strategies to improve employee productivity, streamline the recruitment
process, or reduce employee turnover. Data analytics allows Executives to funnel all of the facts
into making crucial operational decisions.

2. Explain the relationship of analytics and business intelligence to the subject of business
analytics
= Business Intelligence is all about harnessing the data that business generates in all of its
different activities. Business Intelligence visualize their data in order to clearly understand it and
gain valuable insights on how business is performing. Now this insights will allow them to
perceive the platform of a business through that certain data and they will find pattern and
trends while business Analyst is to analyze the performance of a particular segment of the given
data and dashboard that business intelligence has produced. They are engaged with the
analysis of different process. Overall consumption Business Intelligence and Business Analyst
has strong affiliation with each other. Without the data given by Business Intelligence. Business
Analyst cant forecast and formulate hypotheses in implement their finding. Therefore, they are
interconnected to each other to make corporate better and smarter decision in the success of
their business endeavors

Data Collection:
1. Do you think Business Analytics is significance today's environment? Why? and why not

= Yes, Business analytics has been useful up until now, even we are experiencing a pandemic
because. As organizations take precautions amid the COVID-19 pandemic, day-to-day work
and strategic direction are evolving rapidly. Businesses are grappling with how to respond to the
effects of the pandemic and have numerous challenges facing them including potentially
significant revenue shifts, communication issues and interaction changes, resource limitations,
possible supply chain problems, business process changes, and customer risk, just to name a
few.
While each organization will face a different set of challenges during times of crisis, the above
are some of the most prevalent during the current pandemic. It’s important that businesses
remember that their response to these challenges will leave an impression on their customers.
With the right response, your customers will see your business in a favorable light for years to
come and will feel personally valued.
Organizations need to realign their strategic direction to better understand what their customers
need to thrive and responding accordingly. Data integration tools and analysis can help
companies work smarter by making better choices with their resources using the information
they have. During the immediate impact of COVID-19, analytics can provide a reliable metric in
the midst of spinning thoughts and emotions and produce more stability in an unsteady
environment. Since the ramifications of the pandemic will have an extended impact,
organizations need to determine both their short-term and long-term business response. Both
are necessary for success.

2. Examine table 2.t1 and Identify the internal and external data and explain the importance of
those data what are the challenges in data collection
= Internal data is information generated from within the business, covering areas such as
operations, maintenance, personnel, and finance. External data comes from the market,
including customers and competitors. It’s things like statistics from surveys, questionnaires,
research, and customer feedback.
Collecting data is important, allows you to store and analyze important information about your
existing and potential customers. Collecting this information can also save your company money
by building a database of customers for future marketing and retargeting efforts. You no longer
need to cast a “wide net” to reach potential consumers within your target audience. 

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