“Information is the oil of the 21st century, and analytics is the combustion engine.” This quote by Peter Søndergaard, Chairman of the Board, 2021.AI, and one of the world’s leading technology experts, sums up the significance of analytics in business aptly. With huge amounts of data floating across all business verticals, Business Analytics has become the key area of focus in most industries. Business Analytics is the iterative exploration of past business performance to drive future business. It uses specialised technologies, skills, and statistical methods to understand past data and gain insights for the future. Organisations typically use Business Analytics to analyse data from various sources, recognise patterns from that data, monitor trends in real-time, and make informed business decisions.
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