Business analytics (BA) is the practice of iterative, methodical exploration of an organizations data with emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision making. BA is used to gain insights that inform business decisions and can be used to automate and optimize business processes. Data-driven companies treat their data as a corporate asset and leverage it for competitive advantage. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business and an organizational commitment to data-driven decision making.
Business analytics is a fast growing field and there are many tools available in the market to serve the needs of organizations. The range of analytical software goes from relatively simple statistical tools in spreadsheets (MS Excel, VBA) to sophisticated business intelligence suites (SAS)