Business analytics defines questions and provides answers.
What is business analytics?
The term ‘business analytics’ is now considered by many to have superseded the term ‘Business Intelligence’ because it provides a more meaningful description of both what we offer and what business and government require which at the most fundamental level is systematic analysis. Business analytics focuses on unlocking insights in data to improve operational efficiency, financial performance and strategic management.
In the case of Government, there is a need for solutions and tools that provide access to these hidden data insights. Government agencies and departments work within budgetary constraints to provide evidenced based policies to support Australia’s economy, social wellbeing and physical environment. Consequently there is an essential requirement and responsibility for Government to draw value from their data, which is precisely what we can establish for our clients.
Business analytics tools come in several different guises:
- Data visualisation tools
- Business intelligence reporting software
- Self service analytics platforms
- Statistical analysis tools
- Big data platforms
Several key capabilities when implementing solutions leveraging off these tools is to remember:
- Data quality