ANALYTICS

Their decisions have significant economic consequences; moreover, they are difficult to make because of uncertain data and imperfect information about the future.

is the use of data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about their business operations and make better, fact-based decisions.

what are the analytics tools?

Began in the late 1940s and their development through the 1960s and beyond

This facilitated the collection, management, analysis, and reporting of data, which is often called

Allow us to gain a richer understanding of data that goes beyond business intelligence reporting by not only summarizing data succinctly but also finding unknown and interesting relationships among the data.

which one is NOT part of major components of Business analytics?

• Descriptive Analytics

• predictive analytics

• consultation analytics

• prescriptive analytics

answers the question, “What happened?”

answers the question, “What will happened ?”

answers the question, “What should we do?”