Business Analytics
Data Collection: Gathering relevant data from various sources, both internal and external to the organization. This data can include sales figures, customer feedback, market trends, and more.
Data Processing: Cleaning and transforming raw data into a usable format. This may involve dealing with missing values, standardizing formats, and ensuring data quality.
Descriptive Analytics: Examining historical data to understand what has happened in the past. This often involves creating reports and dashboards to summarize key performance indicators (KPIs) and trends.
Predictive Analytics: Using statistical algorithms and machine learning models to identify patterns and make predictions about future events. This can help organizations forecast sales, predict customer behavior, and anticipate market trends.
Prescriptive Analytics: Recommending actions to optimize business processes based on the insights gained from descriptive and predictive analytics. This involves suggesting strategies to improve efficiency, reduce costs, or increase revenue.
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