Business Analytics Basics: A Beginner’s Guide

Last updated on Nov 19, 20203379
  • Business Analytics Overview
  • Business Analytics Industry Applications and Key Terminologies
  • Ways to Build a Business Analytics Career

About the ebook

Whether it's a small business or a large corporation, its success depends on providing customers with what they need. Understanding what consumers want is even more important in today's business environment, and relying on assumptions is a recipe for failure. In recent years, the popularity of business analytics is growing rapidly around the world because business analytics helps organizations extract meaningful information from data that enables them to better serve their customers.

Previously, interesting concepts, productive employees, and a decent client base were all that an organization needed to flourish. But nowadays, in the age of globalization and digitalization, things are more challenging than before. Today, there is an overwhelming amount of data available, and companies are striving to take advantage of it to sharpen their competitive edge.

Raw data, anyway, is of no use. It does not add value, nor does it provide organizations with actionable insights that help them make informed decisions. To benefit from data, companies must process it, and this is where the role of business analytics comes in. Business analytics enables organizations to implement effective strategies, make the right decisions, measure performance, and gear up for changes. These days, more and more businesses are recognizing the importance of processing big data, and they realize that failing to do so carries the risk of falling behind the competition. Hence, the demand for business analysts is growing exponentially, and they are increasingly becoming the most sought-after professionals in the IT domain. 

Pursuing a career in business analytics is all the more tempting because, despite the steady rise in demand, there is a severe shortage of supply. The widening talent gap opens up great opportunities for those seeking to step into this fast-growing field. Moreover, the demand for business analysts is going to remain strong. The U.S. Department of Labor forecasts that demand for management and business analysts will surge by 14 percent between 2018 and 2028, faster than the average for any other profession.

And this business analytics beginner’s guide helps you understand the basics of business analytics, its industry applications, business analytics key terminologies. And not just that, the business analytics beginners guide also includes the best way to master the skills you need to specialize in this field and will help you understand how you can grab your dream job! 

  • Disclaimer
  • PMP, PMI, PMBOK, CAPM, PgMP, PfMP, ACP, PBA, RMP, SP, and OPM3 are registered marks of the Project Management Institute, Inc.
  • *According to Simplilearn survey conducted and subject to terms & conditions with Ernst & Young LLP (EY) as Process Advisors