Business Analytics is a data-driven approachto decision-making and problem-solving. This field of study combines data,information technology, statistical analysis, quantitative methods, andcomputer-based models into one to provide decision-makers with all the possiblescenarios to make a well-thought-out and researched decision. Thecomputer-based model ensures that decision-makers are able to see theperformance of decisions under various scenarios. Thus, business analytics hasevolved as a methodology or tool to make a sound commercial decision thatimpacts the functioning of the whole organization. Business Analysis acts likea pin that holds the business together. Research by McKinsey shows, thatorganizations that invest in big data yield a six percent average increase inprofits, which jumps to nine percent for investments spanning five years.
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