The business world is constantly changing, and businesses need to be able to make informed decisions based upon data. Tools for business analytics like forecasting and predictive modeling help organizations to discover opportunities for growth, improve operational efficiency, and more.
The business analytics field is focused on the analysis of historical and current data to forecast future trends and guide decision-making. It involves the use of tools like predictive modeling, data mining, and forecasting simulation, and creating data visualizations that present the results of analysis in a simple format. Business analysts also require strong communication skills to effectively communicate their results and findings to other employees and managers.
A report for 2020 by NewVantage Partners found that a company’s ability to implement business analytics techniques was the most crucial element in their success and future competitiveness. However, a lot of businesses aren’t certain how to use the methods based on data to boost the performance of their business and increase profits.
Business analytics experts can help companies streamline their operations and optimize processes by identifying bottlenecks, inefficiencies and areas to improve. They can also apply data-driven insights to improve marketing strategies and increase sales.
You’ll develop the necessary skills to become a successful manager based on data by taking an online course in business analysis. This online course will teach how to extract, analyze and visualize data through interactive lectures, real-world tasks, and case studies. You’ll also learn how to use the critical tools of the trade, such as SQL, Python and Tableau and build your expertise in key areas such as data visualization. You’ll be able to connect with Harvard faculty and other students throughout the program through live classes online office hours, virtual classes and networking events that are held in between and after your studies.
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