Business Analytics, Volume I

This book deals with Business Analytics (BA) an emerging area in modern business decision making. Business analytics is a data driven decision making approach that uses statistical and quantitative analysis along with data mining, management science, and fact-based data to measure past business performance to guide an organization in business planning and effective decision making. Business Analytics tools are also used to predict future business outcomes with the help of forecasting and predictive modeling. In this age of technology, massive amount of data are collected by companies. Successful companies use their data as an asset and use them for competitive advantage. Business Analytics is helping businesses in making informed business decisions and automating and optimizing business processes. Successful business analytics depends on the quality of data. Skilled analysts, who understand the technologies and their business, use business analytics tools as an organizational commitment to data-driven decision making.