Data first – Business analytics turns data into actionable steps and results

Do you often hear how important it is to work with data? Consistently collecting quality data and continuously processing it are essential for business success—something we can all agree on. But how can you avoid getting lost in the sea of information and instead use it smartly?

The answer lies in advanced business analytics. This approach enables an understanding of the company as a whole: optimizing operations, forecasting developments, and helping leadership make well-informed strategic decisions based on data. The result? A company that operates efficiently, cuts costs, leverages strengths, and strengthens its long-term market position. Sounds great, right?

What is advanced analytics?

Advanced analytics goes beyond simply describing past data. Modern advanced analytics allows businesses to predict future trends, identify hidden patterns, and turn data into actionable steps. In practice, this means it focuses not only on what has happened but also on what will happen. And that’s exactly what companies need for strategic planning.

TIP! According to Gartner, by 2025, up to 75% of analytical reports will be generated by AI, allowing companies to process data much faster and reduce human error.

The tip above is known as augmented analytics, which automates complex analytical processes, saving time and enhancing decision-making accuracy.

Is Business analytics essential for strategic planning? We think so.

Most of us want to make informed decisions, and advanced analytics helps make that possible. It should be an indispensable part of your business strategy. Here are five reasons to integrate it into your strategic planning:

1. We need to understand how the company works

Intellicus defines a good business analyst as someone who doesn’t just work with data but sees the business as a system. An analyst understands what parts make up the business, how these parts interact, and the impact of the surrounding environment. With this perspective, an analyst can easily identify business problems and their causes, uncover hidden opportunities, and recognize a company’s core strengths.

2. We want to make informed decisions

Understanding how something works enables better and more relevant decisions. This approach moves away from subjective intuition and relies on facts. By combining an understanding of the business’s operations with quality data, you gain a tool that helps identify opportunities for optimization and growth. A great example is Coca-Cola, which uses advanced analytics to optimize its supply chain, lowering costs and boosting efficiency.

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3. Identifying trends easily

Trends may not be obvious at first glance, but advanced analytics can reveal hidden patterns. For instance, Netflix uses predictive analytics to personalize content for its users—a win-win, as viewers engage more and Netflix retains their loyalty.

4. Risk management

Advanced analytics allows you to spot potential problems before they arise, reducing risks to a minimum. GE Healthcare uses prescriptive analytics to streamline operations in hospital facilities, improving care quality and reducing material waste.

5. Streamlining processes within the company

How to save time and money? Amazon knows this well; by adjusting its pricing strategy using prescriptive analytics, it boosts profits and can quickly adapt to market changes.

TIP! According to Harvard Business Review, Microsoft reduced travel time for meetings by 46% by relocating frequently meeting employees to the same building, saving 100 hours of human time per week through offline collaboration data analysis.

Advanced techniques in business analytics

What skills do you need to fully harness data? Let’s look at three advanced types of business analytics: predictive, prescriptive, and big data analytics.

Predictive Analytics = uses historical data to predict future events and trends. Nike, for example, uses it to optimize logistics and forecast demand, streamlining its supply chain.
Prescriptive Analytics = goes one step beyond predictive analytics. Not only does it tell you what might happen, but it also recommends the best action to take. For instance, Amazon uses prescriptive analytics to optimize real-time pricing.
Big Data Analytics = As the amount of data grows, you need tools to process it efficiently. Starbucks uses big data analytics to determine optimal locations for new stores based on demographic data.

Essential tools you’ll need

Advanced business analytics isn’t possible without quality tools. Here are some of the most popular platforms among analysts:

Tableau = a tool focused on data visualization and interactive dashboard creation, enabling clear and concise data presentation.
SAS = a platform for statistical modeling and predictive analytics, suitable for companies working with large data sets.
SAP Business Objects = a powerful tool for reporting and analysis, allowing deep integration with company ERP systems.
IBM Watson Analytics = an AI-powered platform using machine learning to identify hidden trends.

TIP! When using Google Analytics, focus on advanced features like user journey analysis, multi-channel paths, or attribution modeling to easily optimize your marketing campaigns.

Does an Effective MBA in Business analytics really prepare you for strategic roles?

This program teaches you how to apply techniques and tools effectively in practice. You won’t just learn to work with data—you’ll also learn how to interpret it correctly, influencing the company’s course and making data-driven strategic decisions.

The program is 100% online and uses microlearning. It consists of 10 modules, each studied over a month, with thirty daily lessons in each module. The curriculum includes modules like Data analysis, business analytics foundations, management, marketing, data science, and more, with practical case studies and up-to-date information that you can apply immediately.

TIP! Want to learn data skills? Study Effective MBA in Business analytics.

Interested in other business topics? We currently offer over 17 MBA specializations, including online marketing, HR management, executive management, and AI. See the complete list of specializations and study programs at edueffective.online.

Do you have questions about studying at EDU Effective? Write to us or call us. Also, check out our FAQ section!

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