The Four Types of Business Analytics: Driving Better Business Decisions
In this regard, data has played a catalytic role in shaping business strategies, operational efficiencies, and fostering innovation in the digital age. However, there are four types of business analytics, each having its own idiosyncratic insights and value proposition. In this expansive look, we unearth details of inextricable underpinnings of descriptive, diagnostic, predictive, and prescriptive analytics in driving better business decisions and organizational performance.
Introduction to Business Analytics
Business analytics is a continuous, methodical exploration of data to gain valuable intelligence and drive decision-making in a business in the pursuit of organizational success. The use of advanced analytics techniques, statistical models, and data visualization tools guides b...