As a broad definition, business data analytics is a practice by which a specific set of techniques, competencies, and procedures are applied to perform continuous exploration and investigation of past and current business data for the purposes of obtaining insights about a business that can lead to improved decision-making.
The role of business analysis in business data analytics is rapidly on the rise. Find out about how IIBA's Corporate Program helps organizations upskill their teams and develop Business Data Analytics capability. Get started today and reach out to a corporate program manager.
The business data analytics cycle represents the research aspects of business data analytics. It is an iterative cycle initiated through the development of a well-formed research question and then explored through targeted, but thorough data analysis.
For any data-driven engagement to succeed, there needs to be a partnership between those providing the business experience (business stakeholders and business analyst) and those with the technical skills: the data analysts and scientists. These roles work collaboratively to ensure the business context is properly translated to guide the analytics activities appropriately and to find the best ways to obtain value from available data.
Strategy for business data analytics includes the activities to build the capacity and capability for data analytics within an organization. This includes building a business data analytics team, establishing best practices, curating data, performing ongoing data management functions, and developing a data strategy.
The biggest challenges organizations face in rolling out their data initiatives is data driven problem solving skills. This is where Business Data Analytics can help. The idea is not to convert Business Analysis Professionals into Data Scientists, but rather...