Business Analytics Philippines is the best solutions used by many companies today for a data-driven decision making to solve certain problems both for business and its constituents. Its top purpose is to provide solutions by statistics that will help and improve its system and performance.
What is Business Analytics?
We are already in the digital era and whether we like it or not, we will always be moving forward. When did the last time you research or read any things that matter to you and to others? It is imperative that we tend to search rich information elsewhere just to solve any problems we have isn’t it?
Same in businesses in the Philippines, almost all companies spent time in research to improve their products and services! This is where Business Analytics comes in. We all know that Philippines is one of the successful countries in the world in terms of economy, security, and infrastructure. What do you think is the reason why Sg is leading today? What really helped the companies or business here to thrive? What are the tools and technology that play its role to this growth? We will find it out as we dig deeper with Business Analytics!
Business Analytics or BA is utilized to get very rich and big information in all sources to help any business to decide on what must be improved, solved, developed, and innovate. All processed information are fed to the company’s skilled data analysts that brainstorm and consolidate all data for further scrutiny.
Busines Analytics enable a data-driven company to help and solve any problems that exist using these data by automation or whatever means just to optimize any business operations.
Examples of Business Analytics Usage
The following are just some of the example of uses of BA., There might be some samples but in the meantime, we will focus on the common.
Used for data exploration to discover patterns and relationships
Statistical & Quantitative Analysis
This used statistics to explain why certain thing occurred.
Experimentation is the best use of this by testing previous actions and decisions.
This used foresight by predicting the outcome in the future.
Applications of Business Analytics
Banks are the most popular beneficial of BA. If you are going to look at any banks, they have the huge volume of data to be processed everyday. Most of the data are from customers accounts such as credits, debits, assets, and others information that need to be analyzed for future used. Banks used to analyze risks aside from their customers’ statistics.
Aside from banks, the Gaming industry is also the most common user of Business Analytics due to the enormous data from gamers, producers, developers, and many others. We all know that games are one of the most successful industry today and because of that many information or data are needed to analyze in order to innovate and grow.
We cannot deny the fact that telecommunications industry is one of the most popular and in-demand today. Billions of users or customers are utilizing the internet, SMS, and other communication technologies that resulted with big data from all customers.
BA is continuously evolving. It is very tough and cumbersome to handle all data everyday especially if you will combine all industries who use BA. It needs graveyard shifts to study all information being processed daily.
Bear in mind that the main goal of BA is to produce solutions and strategies out of the big data or processed information. Without analyzing the data all businesses can never grow and innovate their products and services.
Business Intelligence or BI is all about tools to analyze data so never confuse it with BA.