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Business analytics. Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods.
Prescriptive analytics. Prescriptive analytics is a form of business analytics which suggests decision options for how to take advantage of a future opportunity or mitigate a future risk, and shows the implication of each decision option. It enables an enterprise to consider "the best course of action to take" in the light of information ...
Social information processing theory, also known as SIP, is a psychological and sociological theory originally developed by Salancik and Pfeffer in 1978. [ 1 ] This theory explores how individuals make decisions and form attitudes in a social context, often focusing on the workplace. It suggests that people rely heavily on the social ...
v. t. e. Business analysis is a professional discipline [1] focused on identifying business needs and determining solutions to business problems. [2] Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development.
Data analysis is the process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. [1] Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science ...
Business analyst. A business analyst (BA) is a person who processes, interprets and documents business processes, products, services and software through analysis of data. [1][2][3][4] The role of a business analyst is to ensure business efficiency increases through their knowledge of both IT and business function. [5]
Predictive analytics is a form of business analytics applying machine learning to generate a predictive model for certain business applications. As such, it encompasses a variety of statistical techniques from predictive modeling and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. [1]
Behavioral analytics. Behavioral analytics is a recent [when?] advancement in business analytics that reveals new insights into the behavior of consumers on eCommerce platforms, online games, web and mobile applications, and Internet of Things ( IoT ). The rapid increase in the volume of raw event data generated by the digital world enables ...
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