Business Analytics uses techniques that judge the performance of a business entity over a period of time. It makes the use of statistical analysis and explores the organizational data. It helps in making important decisions in a firm on the basis of data and information. It helps in business planning by identifying new insights and understanding performance of business. Business Analytics integrates management science and is related to it. It includes Data Mining, Multivariate Testing and Predictive Modeling. Its motive is to aid companies to efficiently compete in the market scenario. It has gained importance and will become one of the main functions in business processes. In Business Analytics, Analytical reasoning is used by companies to support their decisions. The main problem which comes in applying Business Analytics is the lack of information and knowledge about its functioning to improve the performance of the business. When there is high competition in the market, business analytics helps the managers to find the right customer which will give them maximum profit for their marketing efforts.
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