To build a successful competitive IT solution an insightful approach is required. A well knowledgeable IT Solutions provider will incorporate a consulted Business Analytic approach for the customer business need. A rightful consultant will build the strategical approach for managing the data into meaningful business insight. Data can be anything from excel, social media, spreadsheet and other. Transforming raw data into a meaningful business decision. A rightful Business analytics consultant will give the report based on the Descriptive analytics, Predictive analytics and Prescriptive analytics.
Business Analytic Process
A BA consultant will enable the business by a symmetrical approach that starts from Analyzing the problem, Estimating the effort and Building a business case. A systematic approach will save the effort and time of the consultant and IT business provider. A business intelligent approach, a big data approach will surely give some meaningful solution to the vast raw data that need to be concise into some business IT solution. One of the most sort about analytic process is Big data analytics concise huge data from varying sources into Hadoop cluster that ingest unstructured data really fast into a scrubbed structured data that will be further analyzed by various tools like Tableau, etc. The other processes may be Excel data analytics and the traditional analytic method.
Business Analytics in Action
Nowadays, a lot of unstructured data is present in the form of video, excel, and others that need to be structured and processed into a strategical scenario for the analytical approach. To deal with a lot of data in present business outlook and to give the analytical approach, the consultants has come with the solution of Big data analytics. A Big data analytics help in evaluating the huge amount of data that comprise the overview of customer behaviour, brand performance and market development into a structured analyzed data. It gives an insightful overview of customer satisfaction, turnover and profitability.
Business Analytics Tools
Effective Business Analytics Consultants analyze the wide data with the help of various tools and technologies.
Some important open source tools include:
SAS enterprise miner tool: SAS is the most sought-after tool due to its robustness, versatile ability. The latest module addition is SAS Anti-money Laundering, SAS analytics for IOT, and SAS Analytics Pro for Midsize Business.
Tableau: It is easy to learn tool with its effective capability of slicing and dicing of data and giving great visualization.
Excel: It is the most widely used analytical tool in the world. Excel is a vital tool that is known by everyone and is used by the consultants to take with the business people.
QlikView: It is also in the top slot, it is supposed to be slightly faster than Tableau and gives experienced users a bit more flexibility.
Splunk: Giving a great visualization options and having option for web interface makes it easy to use and look after.
Main Technologies for BA includes:
R analytical tool: R’s capability to integrate with various Big Data platform has added to its popularity. It is simple to learn which has added to its popularity.
Hadoop data management software: Its incorporation in big data analytics make it a popular analytical technology.
Business analytic consultant
A traditional BA consultant, Decision maker, or Data consultant has to be a deep thinkable person with the wide technological inclination. A qualitative analytic is required with the optimization of data by business analytic tools. A dedicated IT Solutions provider will optimize the business requirement into required solution with a strong BA functionality. The Business analytic consultant will follow some reachable analytic approach that is based on complexity and business value starting from low to high level. The stages start from Reporting (what happened), Analysis(why did it happen), Monitoring (what’s happening now), Forecasting (what might happen), Predictive (what likely to happen) and Prescriptive (what action should be taken).
Business Analytic vs Business Intelligence
A Business Intelligence, BI is a much wider concept, it comprises Performance Management, Analytics, Predictive Modelling and Data & Text Mining. It is actually compiling messy information into predictive data. In a broader context, Business Intelligence is an inclusive part of Business Analytic. BI finds the answer of increasing sales increment by answering the questions such as what happened, how many, how often, where exactly is the problem and finally what action needs to be taken. Business Analytic find the answer to accelerate the business performance by gaining the insight knowledge and drive business planning. It gives an answer to why is this happening, what will happen if the legacy business trend is continued and what is the outcome.
A consulting approach will provide a competitive edge to the business solution giving a standard business growth. Right information for a better decision like aligning better resource, improving inventory, identifying selling scopes, improving efficiency, realizing cost efficiency, user need, timely information, increasing financial revenue and other business aligning processes.