Business analytics focuses on developing new insights and
understanding of business performance based on data and statistical methods. It
helps in driving the business plan by making use of quantitative and exploratory
analysis and predictive modelling. It also plays a major role in decision
making. Many organizations now a days use analytics to differentiate them from
others, for example in case of banks to predict the credit risk, in
manufacturing industry to control inventory etc..
The major challenge
that analytics face are with that of data i.e. if the data is reliable, storage
issues, errors in data etc. one of the key characteristic that a business
analyst show have is the analytical mind-set. Analytical skills are the ability to visualize, articulate, and solve
both complex and uncomplicated problems and concepts, and make decisions that
are sensical based on available information. Such skills include demonstration
of the ability to apply logical thinking to gathering and analyzing
information, designing and testing solutions to problems, and formulating plans.
Hence an analytical mind is one of the important attribute that a business
analyst should possess.
Infographics: Pictures speak more than
words. It is easy to remember, understand and interpret pictures rather than
text or verbal format. It is easy to
connect with pictures. They make the information more appealing. It highlights
the important points and grabs the attention towards them. Infographics are
also easy to understand and they lessen the boredom. They are more persuasive ,
accessible and awakens ones interest. It
is easy to relay since there will be less misinterpretation and also it also
makes the data easy to remember because of the creative ideas used in depicting
the data.
Sai Durga
Team # 4
No comments:
Post a Comment