Respuesta :
Business Analytics is the scientific process of transforming data into insight for making better decisions.
What is Business Analytics?
Business Analytics is the process whereby businesses use statistical methods and technologies for analyzing data to aid decision making.
The goal of business analytics are:
- To determine which datasets are useful and how they can be leveraged to solve problems.
- To increase efficiency, productivity and revenue.
Here are the three stages of business analytics:
- Descriptive Analytics: An application of a prime statistical technique that explains what a dataset contains, the main two techniques used are data aggregation and data mining that signify this method is used for understanding the elemental behavior and not to make predictions.
- Predictive Analytics: An advanced statistical application or a research method to figure out predictive variables and make predictive models determining patterns and relationships among variables.
- Prescriptive Analytics: An application of decision system, management science and operation research methodologies to conduct appropriate use of admissible resources.
Therefore, (B) business analytics is the scientific process of transforming data into insight for making better decisions.
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