Business Analytics refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight, discover opportunities and/or drive business planning. *https://en.wikipedia.org/wiki/Analytics
The most common form of analytics is business analytics that are generally used by senior leaders and decision-makers to investigate problems, validate assumptions and to guide strategic planning.
Business analysts are therefore the most common type of analyst. If you do a job search on the title analyst, as many as half the posting will likely be business analysts. However, analytics can be used in an almost limitless number of business functions in specific areas like HR, recruitment, marketing, finance, and so on. Each one can have its very own analyst.
I was a business analyst for a large part of my career at Wells Fargo, but even before I had analyst in my title I was heavily involved in business analysis. Why?
Because I know how to use Excel.
It’s amazing how many people are scared of Excel. To many highly educated and successful business leaders across Corporate America, making a pivot table in Excel is like magic.
If you were able to take an honest survey of managers and supervisors across the country (world actually), you would probably be quite surprised by the high percentage who would prefer to find someone else to analyze their data.
That’s one of the biggest reasons business analysts are so prevalent.
Another is time.
I had a boss at one point that grilled into me the philosophy that no matter how much data you have, and how complex the analysis, it’s all worthless if you can’t boil it down to 2–3 bullet points.
That’s all he had time for.
3 Bullet Points!
So being a successful business analyst really require 2 skills; Excel and condensing data into 3 bullet points.
If you can do that, you’ll go far.
A business needs analysts to make sense of big data, manage the storage of the data, and know when to use which of the 4 types of analytics (descriptive, diagnostic, predictive, and prescriptive). To be effective, analysts need to have business intelligence tools to create data visualizations and build business dashboards.
I will cover all these concepts in more in upcoming my training classes. For a list of training events, please visit www.sonicanalytics.com
I’ll be conducting the following business analytics trainings over the next few months:
· June 5 in Ortigas (Metro Manila, Philippines)
· July 17, in Pleasant Hlll, CA (San Francisco Bay Area, US)
· August 22, in Bonifacio Global City (Metro Manila, Philippines)
· September 4, Rancho Cucamonga (North of Los Angeles, US)
Dan Meyer heads Sonic Analytics, an analytics training, consulting and outsourcing company with offices in Manila and the San Francisco Bay Area. With over 20 years in Big Data, Dan is one of the most sought after public speakers in Asia and has recently begun offering public training seminars in the United States.
We need to look at the data (analytics), plan a course of action (strategy) and share our data-driven viewpoints (presentation). So he has started an internship program under Sonic Analytics to empower the youth the use Analytic, plan Strategy and Present their views… ASP!
Sonic Analytics(www.sonicanalytics.com) brings big data analytics solutions like business intelligence, business dashboards and data storytelling to small and medium sized business looking to enhance their data-driven decision-making capabilities.