In today's rapidly changing business landscape, it is more important than ever for businesses to understand their data clearly. Business intelligence (BI) is the process of collecting, analyzing, and visualizing data to gain insights that can be used to improve decision-making. Although I know of the course from my past course, I regretted forgetting most of it. The discussion last August 17, 2023, refreshed many of my learnings. Business analytics is a modern way to transform data to be more understandable to people, especially business owners; we can improve, even automate, business decisions with these new insights. These can significantly enhance the business in terms of sales and market; a good strategy is a company's core to success. Business analytics can reduce the gap and risk for the company.
Filtering and sorting data are two of the methods used by business analysts to get a better understanding of a dataset. By filtering the data, the analyst can focus on specific values or groups of importance, while sorting the data can help organize it more meaningfully. For example, a business analyst working with a Netflix dataset could use filtering to find all movies classified as "drama" or to sort the data by release date. This would allow the analyst to quickly and easily identify the specific information they seek. Another data analysis method used by business analysts is aggregation. Aggregation is summarizing data into a smaller and more manageable set. This can be done by grouping data based on common characteristics like age, gender, or location. Aggregation is similar to a pivot table in that it allows you to view data in a more summarized and organized way. However, aggregation can summarize data in various ways, while a pivot table is typically used to summarize data by rows and columns. For example, a business analyst could use aggregation to summarize the Netflix dataset by genre. This would give them a quick overview of how many movies and TV shows are in each genre. The analyst could then use this information to decide which genres to focus on.
The benefits of BI are clear, but it is important to note that BI is not a magic bullet. It is a tool that can be used to improve decision-making, but it is still up to the business to make the right decisions. One unique thing about business analytics is that it is versatile and can be applied in every field, thanks to data.
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