Business analytics - Glossary

Business analytics is the practice of using data to drive informed business decisions uncovering insights that can transform how a company operates. Imagine a retail store owner navigating through racks and shelves filled with products. Instead of relying solely on instincts to decide which items to stock up on they can turn to business analytics. By analyzing sales data customer preferences and even weather patterns the owner can predict which products are likely to fly off the shelves and which ones may be left collecting dust. This powerful approach goes beyond mere number-crunching; it’s about finding meaningful patterns that can lead to better strategies enhanced customer experiences and ultimately increased profitability. At its core business analytics is about unlocking the potential of data to foster sustainable growth and smarter decision-making.