Business analytics is the process of collating, sorting, processing, studying business data, and using statistical model and iterative methodologies to transform data into business insights. The goal of business analytics is to determine which datasets are useful and how they can be leveraged to solve problems and increase efficiency, productivity, and revenue.
Business analytics is more prescriptive, devoted to the methodology by which the data can be analyzed, patterns recognized, and models developed to clarify past events, create predictions for future events, and recommend actions to maximize ideal outcomes.
Type of Analytics
1. Forecasting Modelling
2. Predictive Modelling
3. Image Classifying