Top 10 Benefits of Business Analytics (Advantages)

 

Top 10 Benefits of Business Analytics (Advantages)

• Introduction
• Three methods of business analysis
• Why Is Business Analytics Important?
• Business Analytics Popularity
• Top 10 Benefits of Business Analytics
• Takeaway

Introduction:

Data is an invaluable asset that can be leveraged to grow your business, but only if you have the right expertise. There are software and easy-to-use tools, but turning data into something meaningful and purposeful is not easy- even for those who are not numbers-savvy.

MicroStrategy (Source) reveals that most organisations that are using business analytics tools reap these benefits:

• 60% improvement in cost-efficiency and processes
• 57% improvement in strategy
• 52% improvement in monitoring and financial performance

The latest research also suggests that 71% of businesses will enhance investment in business analytics over the next couple of years. Therefore, business analytics is a field that is growing by leaps and bounds with no signs of slowing down. This opens doors to job opportunities for professionals who want to get into this niche. (Source)

In this blog, we give you the top 10 benefits of business analytics in this ever-evolving digital era. But first, let us give you a little insight into what business analytics is and why it is important for businesses that want to succeed in a competitive world.

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