BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Data
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Analyze
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Generate Reports
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Smarter Decisions
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Detailed explanation-1: -Data analytics, if used properly, provides a competitive advantage over other companies in the industry by enabling organizations to identify new opportunities and leverage their insights to make strategic decisions. Data analytics programs are evolving as the digital transformation of companies progresses.
Detailed explanation-2: -Data analysis plays a vital role internally within a company by providing insight into decision-based on improvements in efficiency. The idea is to streamline these business operations so that they are more time-efficient. Some examples include operational costs, product development, and workforce planning.
Detailed explanation-3: -Digital analytics helps companies to provide a better online experience to its clients as well as potential customers, which gradually results in the achievement of desired goals. Digital analytics is a tool used by organizations for collecting, measuring, and analyzing the qualitative and quantitative data.
Detailed explanation-4: -HR Analytics is defined as a specialized form of data analytics that involves usage of employee-related data and analytical processes to improve HR performance level and employee retention. The data collected is used to help the management make informed decisions with respect to attrition rates and employee retention.