FEATURE : BUSINESS ANALYTICS
Why business analytics matters
Business analytics ( BA ) is the iterative , methodical exploration of an organisation ’ s data , with an emphasis on statistical analysis . Successful business analytics depends on data quality , skilled analysts who understand the technologies and the business and an organisational commitment to using data to gain insights that inform business decisions . Industry experts share insights on the types of business analytics and how organisations should go about selecting the best suited type for their business , writes Manda Banda .
Data-driven companies treat their data as a corporate asset and actively look for ways to turn it into a competitive advantage . The success of business analytics largely depends on data quality and skilled analysts who understand the technologies and the business , and an organisational commitment to using data to gain insights that inform business decisions .
Once the business goal of the analysis is determined , an analysis methodology is selected and business data is acquired to support the analysis . Data acquisition often involves extraction from multiple business systems and data sources , then cleansing and integrating data into a single repository such as a data warehouse or data mart .
Compared to the West , the Middle East has been relatively slow in its widespread adoption of analytics , especially among small and medium-sized businesses ( SMBs ). While remote work has served as a catalyst to drive businesses in the SMB segment to explore analytics tools to offer better visibility and measure productivity , industry pundits expect to see a rise in the adoption of analytics solutions among SMBs in the Middle East and also increased adoption within individual departments of an organisation at enterprise level .
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