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What is business analytics? Using data to improve business outcomes
1. What is business analytics? Business analytics is the practical application of statistical analysis and technologies on business data to identify and anticipate trends and predict business outcomes. Research firm Gartner defines business analytics as “solutions used to build analysis models and simulations to create scenarios, understand realities, and predict future states.” While quantitative analysis, operational analysis, and data visualizations are key components of business analytics, the goal is to use the insights gained to…
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