https://adiuventa.de/2020/02/12/einer-erfolgreichen-unternehmensstrategie/
Data volume is increasing exponentially all over the world. Businesses rely on experts in business analytics to make data-driven decision. Online degrees can help prepare graduates to meet the rising demand for business analysts across every industry.
A company can utilize its data to identify growth opportunities, in addition to improving the efficiency of existing operations. By identifying the regions where people of a certain demographic spend money most frequently, a business could create products or services that are appealing to these areas and improve the relationship with their customers. Business analysts gather information about the habits of consumers and use it to enhance marketing strategies.
Predicting performance changes over time, whether seasonal or annual, on a larger scale is another crucial aspect of business analytics. With the proper data companies can prepare for these changes and anticipate the need for additional resources, such as new marketing campaigns or more staffing during peak seasons. Business analysts can also forecast how much inventory a company will need to order from suppliers, which allows to reduce waste in warehouses and maximize sales.
Business analysts use various software tools to analyze and report. A majority of these tools are free to use, including the most popular applications like Microsoft Excel, which is widely used by BAs to track requirements management, data storage and data manipulation. Other popular tools include Balsamiq and Axure for wireframes, Visio, Tableau, PowerBI, Bokeh and LucidCharts to display data.