In a world where data drives decisions, business analysts help organizations to optimize, automate and analyze their processes to get the best results. By using the tools of business analytics, organizations can improve their decision-making capabilities and increase profits.
Google Analytics is a common example of an online business analytics tool. It’s an open source software that lets you observe and monitor the performance of your website in real-time. It is an effective reporting and visualization tool that can provide metrics and key performance indicators (KPIs).
The business analytics field uses statistical analysis and data visualization to make organizational changes based on data available. This advanced type of business intelligence is able to predict outcomes, detect trends and patterns in existing data and develop a more strategic approach to problem solving and decision making.
This could include the identification and elimination of recurring problems in existing workflows that keep businesses from operating as efficiently as they should, or analyzing market trends to devise more targeted strategies for reaching customers and increasing sales. It can also give businesses a competitive edge by providing them with the insights they need to make changes to their products and services that are more in line with customer demands.
It is crucial to know the analytics tools and technology that are transforming business. Students who sign up for the Master of Science in Business Analytics Online receive training in technical areas and study cases studies. They also take part in weekly programming assignments in order to develop the skills needed to understand the new tools and technology.