Analytics is a study of collected data through statistical and operational methods to form predictive flow models, optimized application techniques to communicate with customers, business partners, clients, and stakeholders. Business Analytics works on big data by applying quantitative methods to enhance business decisions and future planning for fruitful business growth. In general, both business analytics and business Intelligence terms sound similar, but they both are quite different. Business Intelligence works on gathering data from multiple sources and processing it for analysis. Whereas Business Analytics analyzes the processed data provided by BI to give fast data-driven decisions.

What is Business Analytics?
Business analytics is the process of measuring business performance through gathered data using various statistical methods and techniques to give valuable resolutions that help business growth.

Business Analyst is responsible to bridge the gap between IT and business with good analytics, managing and decision-making skills.

Why is Business analytics required for any organization?

In the 21st century global economy is rapidly changing, many business organizations are transforming quickly into the digital world. This made current business firms work smartly to meet challenges in the business and IT market. In this competitive world, it is a very challenging task to impress customers with traditional solutions. So, business enterprises need to upgrade with new technology to be a strong competitor to others in this global business market.

Hence, Business analytics is indispensable for the fast development of the industries. Business analysis is one of the most effective and innovative business insights and methods to give smart resolutions for business growth.
How Business Analytics makes company growth?
Business Analytics blends business intelligence, data science, and programming to gain business insights based on data and statistics to drive business planning.

1. Empowers business to make an impact:
Business Analysts analyze the data and understand the business environment and industrial operations that enable clarity, competitiveness strategy, and timeliness for the company growth. By knowing company standards business analysts can give clarity about future planning with better methods and techniques. To sustain in this competitive industrial market, the company has to analyze all customer, service and product data to stay behind the competition. BA gives clear insights and fast decisions to yield good results in a short time.

2. Keeps up-to-date in a changing environment:
To stay in a competitive business market, a company should require constant change with trending technology and growth with the latest industry trends and best practice methods. Business Analyst needs to update the company environment with new trends.
Making a change in the business environment with the updated technical things not only makes company growth but also provides knowledge to all other employees for personal growth and development.

3. Boost operational efficiency:
The business analyst finds operational inefficiencies and gives proper directions to the company for the fruitful business operations. Analytics helps business future planning to make the business more agile. Business Analysts will make efficient and important decisions to handle risks and future consequences.

4. Gives the best Planning for growth
Business Analyst research with business intelligence reports and gives insights into visualizations and dashboards. With this knowledge, business analysts can able to create plans with fast important decisions. With predictive insights, business analyst enables influencing outcomes and future expansion.

5. Builds strong customer relationships:
Analytics gives business insights into customer reviews, requirements, and behavior. It makes to understand the public opinion of the business brand products or services. Strategize how to create better marketing campaigns to maintain longtime relations with customers.
Why you should pursue a career in BA?

The business industry is reaching new heights with increasing globalization. In a business-oriented world, becoming a business analyst will be a great choice. Let us see in detail how Business analytics will be a good career path.

1. Demand is huge in the job market:
More and more business enterprises are realizing the importance of diligent business analysts relative to their competitiveness and success. Pursuing a career in the BA field is more tempting as the demand is steadily rising each year around the world. The supply of dedicated BA is still low as the requirement of business analysts is huge in the business and IT job market. As of today, 22,823 Business analyst jobs are available in the US and 8% job growth since last year- indeed. Hence, the Business Analyst job market is expected to grow exponentially each year, Business Analyst career is the right choice to start your career.

2. Wide opportunities with great pay:
There are many opportunities with better payment through business analytics. Different jobs through business analytics are Business System Analyst, Data Analyst, Senior Business Analyst, Entry level Business Analyst, IT Business Analyst, etc. Average salaries of Business analyst and related different roles in the US and India are given below - from Glassdoor.

Average base Pay for a Business Analyst in the US is $68,346/ year

Average base Pay for a Business Analyst in India is 666K per year - Glassdoor

3. Easy switch from other careers:
Candidates who want to start a career in the Business Analytics domain, professional background and past experience do not matter. Your immense interest and business analyzing skills will be good potential to become a Business analyst. Hence anyone can easily swift to BA position from other professions.

4. Challenging responsibilities:
Business Analyst is generally used, but the roles and responsibilities of that title may vary from company to company. Some Business Analysts work on the technical side and some other business analysts work on the business side. Some works interpreting and customize processes, while others work to deliberate technical resolutions to meet organization needs.

5. Dynamic and Flexible:
No automation replaces the Business Analytics position because in the end humans have to analyze the data and need to predict resolutions for the betterment of business growth. Hence, BA job security will be high and flexible. BA employee has greater freedom and creative skills to meet higher heights in the business market.

6. Continuous scope of professional growth:
Business Analysts continuously face many challenges as they exposed to work in different environments and management to meet client requirements. So, they can easily learn new methods and techniques continuously and find more effective and innovative resolutions to complex problems.

Applications of Business Analytics:
Significant growth in IT made applications of business analytics much more than earlier. It's becoming a huge aspect in the present technical industry market as they solve problems before an issue arises. Let us see in detail how business analytics can be applied to many industries such as healthcare, manufacturing, marketing, education, banking, sports, insurance, automotive, sports and etc.

In healthcare, business analysis helps in operating and managing clinical information systems. Analysis can be used to generate reports which can include the patient’s latest key indicators, historical trends and reference values. It transforms all medical data easily into useful information through different analytical techniques to better understand the data and to make a change in the healthcare environment for better growth of the organization.

Business Analytics is a major thing in the finance sector. Nowadays many companies deal with a large amount of financial information. BA tools process the large amounts of data in financial companies and reveal valuable insights on investment, financial planning, budgeting, and management. Through analytical reports, business analysts can predict the performance of the stock market and advise the client to hold or sell it.

Business analytics provides effective strategies to gain customers’ attraction in the marketing domain. Analytics helps in relieving consumer behavior and market trends. It will strategize how to attract innumerable customers and gain significant growth in the marketing field.

Human Resource:
HR professionals also using Business analytics tools to perform relevant background checking of candidates. With the help of the analytics, HR can find detailed information about candidate attrition rate, performance details, experience, and other basic details. This information makes easy selection procedure for HR professionals

Business analytics plays a major role in the manufacturing sector. This analysis helps to know insights into inventory management, a performance measure of machinery, supply chain management, and risk mitigation plans. The historical data of products will help to evaluate the cost of machinery and improve operational efficiency.

Developments in Information technology have further accentuated the need for creating various tools and methods to organize and understand the vast amounts of data a company is exposed to. But the development of useful practices is not enough. Not even the best methodologies have any value unless there is someone able to work with them.

For all of these tools and algorithms to find practical use, the market needs individuals who are able to implement them in the corporate environment, transforming the inputs of raw data into conclusions that empower fast and rational decision-making, increased efficiency, and maximized profits.

Finally, business analytics is not only rewarding for companies; it also provides a great chance for professional development for the analysts. It is dynamic and exciting, especially in a market where the supply has still not even closely matched the growing demand, making it an excellent choice for career-changers seeking a new role.

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