Business Analytics Course is based on text and video learning materials by Academy Europe.
Before understanding Business Analytics; let’s understand the term analytics first.
Analytics refers to analysing collected organisations’ data to find business insights and predictions. The results of data analytics are used by the business authorities to frame potential business strategies and make fruitful decisions to grow the business.
What is Business Analytics?
The term business analytics also referred to as business data analytics is a process of analysing historical business data using statistical methods and computing technologies to find out business trends, data patterns, correlations and root causes that enable business organisations to frame data-driven decision-making.
Business analytics involves companies that use data created by their operations or publicly available data to solve business problems, monitor their business fundamentals, identify new growth opportunities, and better serve their customers.
Business analytics uses data exploration, data visualization, integrated dashboards, and more to provide users with access to actionable data and business insights.
Process of Business Data Analytics
The process of business data analytics involves some set of steps; these are as follows −
- Data collection − Data collection: Business data is collected from organisations’ internal departments and external boundaries like IoT devices, apps, spreadsheets, or social media. The collected data is pooled and centralized for access and processing as and when required.
- Data mining − Collected data stored in Data Lake and then processed using advanced tools and techniques like Machine learning algorithms, data visualisation techniques, statistical methods etc.
- Descriptive analytics − Descriptive analytics answers like what is happening and why is it happening. Its analytical results give a better understanding of the story behind the data.
- Predictive analytics − Predictive analytics predicts the future like what can be in future. Its analytical results include forecasting. Predictive analytics supports making future decisions regarding business and organizational choices.
- Prescriptive Analytics − Recommending actions based on data analysis.
- Visualization and reporting − Visualization and reporting present data visually in an attractive manner. It includes a graphical form of data using reports and dashboards.
Business analytics can be used in different fields, including marketing, finance, supply chain management, and human resources, to optimize operations, improve customer experiences, and improve overall corporate performance.
Dear Students,
The text and video based courses by Academy Europe are targeted at providing the students with the most important aspects of the theoretical and methodical materials. In addition, these courses will also focus on the philosophical background for the development and use of the theoretical background and are thus to be understood as partly complementary to the material of the course notes. It is assumed and strongly suggested that the students study and become familiar with the course notes.
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– An area for students including, for example, useful spreadsheets to accompany case studies in the course, multiple choice questions, discussion questions spreadsheets and useful weblinks.
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Requirements
- Ideal candidates for the course would typically possess below:
- Discipline and attentiveness
- Ability to conduct research
- Ability to perform tasks with speed, efficiency, and accuracy
- Analytical judgment
- Patience to interpret technical/scientific data
- A willingness to learn, roll up your sleeves and work toward your dream!
- A computer, tablet or smartphone and an internet connection
- Basic computer skills
Features
- Before you start proceeding with this course on Academy Europe, we are assuming that you have a good aptitude and can think logically. You should want to try something different.
Target audiences
- This course by Academy Europe aims at imparting quality education and training to students.
- Academy Europe is dedicated to its students, their specific learning requirements, and their overall learning success.
- This course is directed toward a student-centered, independent study, asynchronous learning approach.
- After completing this course on Academy Europe, students will get self improvement and promotion in their careers.
- This course is based on at least two learning skills which are provided to the users through audio & visuals, videos, verbal presentations and articles, all of which are asynchronized with distance education approach.