Analytics – also known as “business analytics” or “data analysis” – refers to the software and methods that organizations use to understand data. Organizations generate and collect large amounts of data in many forms (for example: text, statistical data, qualitative data, big data) and from many internal and external sources including social media.
Organizations use predictive analytics and other kinds of analytics software to gain insights into their financial and operational performance and from their customer behaviors. With these insights, they can make accurate predictions and better-informed decisions about emerging opportunities, competitive threats and shifts in their markets to increase competitive advantage.
Studies show that organizations that apply analytics outperform their peers. Further, those with a broad-based, analytics-driven culture perform, on average, three times better. Not only do they drive more top-line growth and control costs, they take timely corrective action to reduce risks that derail their plans.
With 9,000 global consultants and the largest math department in private industry, IBM is the world’s analytics leader. Learn more at bit.ly/NGOxwA
rajsrinidhi, CiscoGambo, ash10000, and JayaprakashMG added this photo to their favorites.
Jayaprakash M Ganesh(Jp) 8 months ago | reply
Business Analysis software helps you to become analytics-driven and achieve breakthrough results to your business organization. To learn more click here Business Analytics Solutions
bogrady1 8 months ago | reply
I recently had a chat about the difference between Analysis and Analytics. We concluded that analysis - from the business intelligence and OLAP world - tends to happen more in the back office while analytics happens more in the front office. I think this image does a good job of demonstrating why you should care about business analytics if you're in the executive suite!