20 January 2018

Data Science: Business Analytics (Definitions)

"Meta-data that includes data definitions, report definitions, users, usage statistics, and performance statistics." (DAMA International, "The DAMA Dictionary of Data Management", 2011)

"Provides models, which are formulas or algorithms and procedures to BI." (Linda Volonino & Efraim Turban, "Information Technology for Management "8th Ed, 2011)

"The process of leveraging all forms of analytics to achieve business outcomes by requiring business relevancy, actionable insight, performance management, and value measurement." (Evan Stubbs, "Delivering Business Analytics: Practical Guidelines for Best Practice", 2013)

"Application of analytical tools to business questions. Business Analytics focuses on developing insights and understanding related to business performance using quantitative and statistical methods. Business Analytics includes Business Intelligence and Reporting." (Daniel J Power & Ciara Heavin, "Decision Support, Analytics, and Business Intelligence" 3rd Ed., 2017)

"BA is a data-driven decision making approach that uses statistical and quantitative analysis, information technology, and management science (mathematical modeling, simulation), along with data mining and fact-based data to measure past business performance to guide an organization in business planning and effective decision making." (Amar Sahay, "Business Analytics" Vol. I, 2018) 

"Use of data and quantitative and qualitative tools and techniques to improve operations and to support business decision ­making. Emphasis on using statistical and management science techniques, including data mining, to develop predictive and prescriptive models." (Daniel J. Power & Ciara Heavin, "Data-Based Decision Making and Digital Transformation", 2018)

"Aggregated information on business processes that enables managers to analyze process trends, view performance metrics, and respond to organizational change." (Appian)

"Refers to the skills, technologies, and practices for investigation of past business performance to gain insight and drive business planning. It focuses on developing new insights and understanding of business performance based on data and statistical methods. While business intelligence (BI) focuses on a consistent set of metrics to both measure past performance and guide business planning, business analytics is focused on developing new insights and understanding based on statistical methods and predictive modeling." (Insight Software)

"Business Analytics describes the skills, technologies, statistical methods and data driven approaches used to explore and investigate past business performance to gain new insights that can support business planning." (Accenture)

"Business analytics is comprised of solutions used to build analysis models and simulations to create scenarios, understand realities and predict future states. Business analytics includes data mining, predictive analytics, applied analytics and statistics, and is delivered as an application suitable for a business user." (Gartner)

"Business analytics (BA) is the iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis." (Techtarget) [source

"Business Analytics is the process by which businesses use statistical methods and technologies for analyzing historical data in order to gain new insight and improve strategic decision-making." (OmiSci) [source]

"Business analytics is the process of gathering and processing all of your business data, and applying statistical models and iterative methodologies to translate that data into business insights." (Tibco) [source]

"Describes the skills, technologies, statistical methods and data driven approaches used to explore and investigate past business performance to gain new insights that can support business planning. Examples of business analytics tools include data visualization, business intelligence reporting and big data platforms." (Accenture)

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