University of Eastern Pangasinan

1st Semester 2021-2022

Business Analytics
Assignment 1

Name: BERMUDEZ, Jelyn

Section: BSAIS – II A 08-21-2021

Introduction to Business Analytics: Insights and Learnings

Business analytics is the process by which businesses use statistical methods and technologies for
analyzing historical data to gain new insight, expectations and improve strategic decision-making. It
offers a unique perspective on how world class organizations use data-driven decision making as a tool
for success.
In today’s business environment, every CEO or Company is looking for a way to make their
decision making more efficient and business analytics gives them the advantage. What makes business
analytics standout in the fact that it can be applied in several areas. One of the apparent importance of
business analytics is the fact that it helps to gain essential business insights. It does this by presenting
the right data to work it. Companies employ Business Analytics so they can make data-driven decision.
Business analytics gives business an excellent overview and insight on how companies become more
efficient, and this insight will enable such business to optimize and automate their process. It is no
surprise that data-driven companies and make use of business analytics usually outperform their
contemporaries. The reason for this is that the insights gain via business analytics enable them to;
understand why specific results are achieved, explore more effective business process, and even
predict the likelihood of certain result. Efficiency is one area of business analytics helps any
organization to achieve immediately. Since its inception, business analytics have played a key role in
helping business improve their efficiency. Business analytics collates a considerable volume of data in a
timely manner, and in a way that it can easily be analyzed. This allows businesses to make the right
decisions faster.
Based on the video material that I watched, business analytics focus on objectives expectations.
Given that a company has multiple stakeholder groups with different and sometimes conflicting
expectation, it is up to the CEO and the Board of Directors to set the expectations. The CEO with his or
her management team is responsible for the daily operation, while the board of directors is focused on
the longer term, the strategy and vision for the company. There is no denying it that business analytics
have come to change the dynamics of businesses and how they operate. Its importance cannot be
overestimated, and with more and more companies relying on it for their decision-making process, it is
something your business should consider incorporating if it hasn’t done so already.