The business landscape is fast changing, and businesses must to be able to take informed decisions based on data. Tools for business analytics such as forecasting and predictive modeling allow organizations to discover opportunities for growth, inform operational efficiency and more.
Business analytics is a subject that concentrates on the analysis and interpretation of current and historical data to predict the future trends. This helps inform decision-making. It involves utilizing tools like predictive modeling, data mining, and forecasting simulation, as well as creating data visualizations that display the results of research findings in an easy-to-digest format. Business analysts have excellent communication skills to convey their findings and conclusions to managers.
A report in 2020 by NewVantage Partners found that a company’s ability in implementing business-analytics methods was the most significant element in their success and future competitiveness. Many businesses are unsure how to make use of data-driven methods to boost the efficiency of their businesses and increase profit margins.
Business analytics professionals are able to help organizations streamline operations and optimize their processes by identifying inefficiencies and bottlenecks. They can also use analytics-driven information to develop marketing strategies to increase sales.
If you take a course in business analytics online, you’ll be armed with the tools needed to become a data-driven leader. This online course will teach how to extract, analyze and visualize data using interactive classes, real-world projects and case studies. You will also learn to use essential tools like Tableau, Python, SQL as well as other crucial tools. You’ll be able to connect with Harvard faculty and your peers throughout the course through live classes in virtual office hours, as well as networking events scheduled both during and after your studies.
