Business Analytics is widely used in the various industries, organizations and corporate in a number of ways. For example Business analytics is used in banks to predict and prevent credit fraud. In retail industry it is used predict the best location for stores and how to stock them. In Pharmaceutical industry business analytics is used to invent new drugs. Even in sports like cricket business analytics is used to determine the strategy of the game and analyze the performance of a player. It is also used for players’ segmentation. In steel sector business analytics can be used to invent new variety of steels and also for better Quality Control.
By this Analytical approach companies attain the following:
Business Analytics is the essence for the success of a company for the reasons-(based on the Computerworld survey of 215 IT and business professionals)