05 March 2018

🔬Data Science: Business Analysis (Definitions)

 "(1) The study of business processes, practices and business systems requirements. (2) The application of information to better understand business opportunities and challenges." (DAMA International, "The DAMA Dictionary of Data Management", 2011)

"A set of tools and methods used for execrating business insight making from the available data or system structure. It provide meaningful information with dynamic and sophisticate methods of problem solving such as optimization." (Shokoufeh Mirzaei, Defining a Business-Driven Optimization Problem, 2014)

"Business analytics is the combination of skills, technologies, applications, and processes used by organizations to gain insight into their business-based data and statistics to drive business planning." (K Hariharanath, "BIG Data: An Enabler in Developing Business Models in Cloud Computing Environments", 2019)

"It is the process of working with factual information in organizations, using suitable tools and techniques to identify the nuggets of wisdom (insights) from them that can have direct impact on influencing good decision making." (Tanushri Banerjee & Arindam Banerjee, "Designing a Business Analytics Culture in Organizations in India", 2021)

"Business analysis is the means through which operational problems and issues are systematically identified and investigated, different approaches are evaluated, and optimal solutions are determined." (Qlik) [source]

"The set of tasks, knowledge, tools and techniques required to identify business needs and determine solutions to business problems" (Business Analysis BOK) 

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