BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Determine the needs of the business
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Collect the data
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Predict the outcome
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Analyze the data
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Detailed explanation-1: -The first stage in the business analytics process involves understanding what the business would like to improve on or the problem it wants solved. Sometimes, the goal is broken down into smaller goals.
Detailed explanation-2: -Gathering data is an important step in conducting a business process analysis. To gather data on the current state of the business process, organizations can use various tools and techniques, such as interviews, surveys, process maps, and data analysis.
Detailed explanation-3: -Step 3: Analyze the data The analyst will also carry out a straightforward regression study to determine the viability of making straightforward forecasts. In addition, the various groups are compared by making a variety of assumptions, which are then put to the test through the process of hypothesis testing.