| gen. |
business analysis and analytics (Alexander Demidov); business analysis (A means by which the current performance of a firm is evaluated as part of the strategic planning process. It should include an analysis of its current market performance in terms of market share, by product or service category, a SWOT analysis of the firm (including major competitors), and a PESTLE analysis of the environmental factors most likely to affect the firm's performance over the future planning period. OB&M. Business analysis is a research discipline[1] of identifying business needs and determining solutions to business problems. Solutions often include a systems development component, but may also consist of process improvement, organizational change or strategic planning and policy development. The person who carries out this task is called a business analyst or BA.[2] Business analysts who work solely on developing software systems may be called IT business analysts, technical business analysts, online business analysts, business systems analysts, or systems analysts. WAD Alexander Demidov); business analytics (Business analytics (BA) refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.[1] Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning, which is also based on data and statistical methods. Business analytics makes extensive use of data, statistical and quantitative analysis, explanatory and predictive modeling,[2] and fact-based management to drive decision making. Analytics may be used as input for human decisions or may drive fully automated decisions. Business intelligence is querying, reporting, OLAP, and "alerts". In other words, querying, reporting, OLAP, and alert tools can answer questions such as what happened, how many, how often, where the problem is, and what actions are needed. Business analytics can answer questions like why is this happening, what if these trends continue, what will happen next (that is, predict), what is the best that can happen (that is, optimize). WAD Alexander Demidov) |
