Can you respond to these peoples answers? Business analytics is a relatively new

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Can you respond to these peoples answers?

Business analytics is a relatively new term in both professional and academic business literature. Use the Topic Materials and your own research to trace the historical underpinnings of business analytics and explain its foundation.

“Business analytics is when a set of skills and knowledge is run against data to determine future trends and outcomes based on past and present data recorded. The analysis of the data is considered the correlation to trends based of the data given without outside persuasion. Within the limits of recovering data the way analytics approach their reports comes from a 5 step spectrum. Reporting is initial in analytics, it is like counting all your eggs before they hatch. Detective analysis is next when they see why things happened the way they did. Once they look back and collect this data then can focus on the present data and trends, dashboards. Based on this knowledge of past and present we can likely predict what will happen in the future. Big data for analytics is what they strive for in the end. From here they can manipulate the data in many different environments for businesses.”

Reply:

Based on an article I read, business analytics means being able to define business needs, exploring data, analyzing it, predicting what is likely to come, optimizing, making a decision based on the predictions derived, and lastly updating the structure with the results of the decision (The 7-Step Business Analytics Process, 2013). Through reading an article provided by Cyfe, I learned that analytics have been around for quite some time. This article references the way Henry Ford and his consultant Frederick Taylor once kept track of their time measurements and thought of ways of improving the production based on stats and analytics. How the way they traced information then evolved to being printed through reports and eventually made its way to Excel

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I started this assignment by simply googling "business analytics" and was disappointed when the first 10+ pages of results were full of adds, schools, software and random blogs which offered little insight. I then searched for "history of business analytic" which contained another batch of ads, and other offerings. I finally came across what seemed like a reliable article from the Harvard Business Review.

The article summarizes business analytics as starting in the mid 50's with the introduction of computers and their ability to see patterns in data that was previously missed by humans. The author, Thomas Davenport, breaks analytics down into three categories; Analytics 1.0, 2.0 and 3.0 and distinguishes that there is a differences in data before there was big data and after there is big data. The evolution and direction of data analytics according to Davenport have and will continue to move from reporting past data and predicting future data based on past data to modeling future data based on live data using predictive analysis.

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Explanation / Answer

Business analytics is a technology that studies the past data and records of the performance of a business to predict the future trends in the business.

Business analytics involves use statistical analysis,predictive modelling and management techniques for studying the data and stats about the business trends in order to predict the future trends and do an effective decision making.It answer to question like why it happened? will this trend continue further? what will happen in the future?

Business analytics is a new and emerging technology which is used in various sectors of business,banking and education to do proper business planning.

History of Business Analytics:

Business analytics has been used in the business practices since Frederick Winslow Taylor implemented management practise in business since the late 19's.Henry Ford started using business analytics to measure the time of each component in his new assembly line. With the usage of decision support systems in computers ,ERP and data warehouse business analytics has been flourishing day by day.

Advantages of business analytics:

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