Why Study Business Analytics Online?

The amount of data generated and consumed across the globe is growing exponentially, and businesses rely on business analytics professionals to make data-driven decisions. As the demand for business analysts rises, an online degree can prepare graduates for the growing demand in various industries.

In addition to increasing the efficiency of existing processes, businesses can leverage its data to identify new opportunities for growth. For example by determining which areas a certain group of people spend their money the most often, a company could develop services or products to appeal to those areas and strengthen the brand-consumer relationship. Business analysts gather information about consumer behavior and use it to improve strategies for marketing.

Predicting changes in performance over time, whether seasonal or annual on a larger scale is a different aspect of business analytics. With the right information companies can plan for these changes and anticipate the need for see here now more resources, for example, new marketing campaigns or an increase in staff during peak seasons. Business analysts can also forecast how much inventory a company will require from suppliers. This helps reduce the amount of waste and increase sales.

Business analytics professionals utilize various software tools for analysis reporting, data collection and reporting. Many of these tools are free to use, including popular programs such as Microsoft Excel, which is extensively used by BAs for requirements management tracking data storage, data management and data manipulation. Other tools that are popular include Balsamiq and Axure for wireframes, Visio, Tableau, PowerBI, Bokeh and LucidCharts for data visualization.