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BUSINESS ANALYTICS PROCESS

Business analytics is the process in which gigantic datasets, are inspected or analysed to generate a meaningful result that can aid organizations to make better business decisions. Here are the steps followed in the business analytics process. Here are the steps followed in the business analytics process. Learn the Business analytics process from the best business analytics institute in Bangalore.<br>https://www.learnbay.co/data-science-course/business-analytics-course-in-bangalore/

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BUSINESS ANALYTICS PROCESS

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  1. BUSINESS ANALYTICS Process https://www.learnbay.co/data-science-course/business-analytics-course-in-bangalore/

  2. MEANING Business analytics is the process in which gigantic datasets, are inspected or analysed to generate a meaningful result that can aid organizations to make better business decisions. https://www.learnbay.co/data-science-course/business-analytics-course-in-bangalore/

  3. Process of Business Analytics

  4. Steps of Business Analytics Address the Business Problems Identify Sources Having Similar Interest from Data Analyzing the data Interpretation and Evaluation by Experts Optimization of Best Possible Solution Decision Making and Estimate conclusions Upgrade performance system

  5. Address the Business Problems Initially, we have to analyse business problems, which need to be solved. So, relevant data is collected which define these business problems and are related to business goals.

  6. Identify Sources Having Similar Interest from Data All sources of data having similar interests are identified. The crucial asset in this step is the more the data, the better it is. This stage involves drawing the data, making calculations for missing data, removing outliers, and transubstantiating combinations of variables to form new variables. Once the data has been gutted, the critic will try to make better sense of the data.

  7. Analyzing the data At this stage that the data is cut, sliced and minced and different comparisons are made while trying to decide practicable perceptivity from the data.

  8. Interpretation and Evaluation of Data At this stage, the analyst/Expert will interpret and evaluate the data using predictive techniques that include decision trees, neural networks, etc. These techniques will uncover insights and patterns and analysts will then compare the predictive values with the actual values and compute the predictive errors.

  9. Optimization of Best Possible Solution After the interpretation and evaluation of data, the expert will find the optimal solution. The analyst finds the best solutions by applying various predictive model.

  10. Decision Making and Estimate conclusions Analysts conclusions from optimal solutions and relevant steps based on the conclusions are derived from the model in accordance with the predefined business problems. would make decisions after estimating

  11. Update the performance system At last, the database is updated and documented from the outcome of decision, action and the conclusion conducted from the model. This helps in upgrading the performance of the existing system.

  12. Thank You https://www.learnbay.co/data-science-course/business-analytics-course-in-bangalore/

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