Business Analytics: A new era in data science

Nowadays, the science of data is getting more and more popular and has been developed at a very large extent. First of all, data is being used in almost every field of all sciences. There are plenty of companies which are prone to the recruitment of data scientists in order to delve more into their own data which are related to a lot of majors such as sales, employees’ performance, projections about future strategies and many more. Hence, we can safely assume that data science has become an integral part of our era.

However, what is actually data science and why is it necessary? It combines elements from plenty of disciplines such as computer science, statistics and maths. In our era when technology is evolving continuously, it is more than obvious that the volume of data is getting larger. As a result, the necessity of the presence of someone specialized in this field is urgent. A data scientist is capable of understanding and analyzing the data and by this way the results of this analysis can benefit everyone. As we mentioned previously, data science is implemented in almost every major. It is very popular in the field of health where data is used in order to identify the condition of patients and understand what treatment is appropriate. It is also extremely popular in the field of education, in the field of politics and in the field of business as well. 

At this point it is important to highlight that data science consists of a lot of branches. One of them is Business Analytics.

What we can say about Business Analytics is that it brings data science a step further. As its name indicates this field is very popular to the major of business. A business analyst uses business intelligence combined with data and statistical methods and after the extraction of those results he can help the company in decision making. For example, which company wouldn’t want to know what possibilities a product which is about to get released has? Or which are the benefits of keeping on providing a product which has already been released?

If you are still not convinced about the necessity of business analytics, a fast search in the world’s universities postgraduate programs will convince you since masters programs which are related to this major take the first place in students and employers’ preferences.

Related articles

Wow Your World: 5 Innovative Ways International Businesses Are Adding Unexpected Value

Forward-thinking corporations realize sustainability demands considering the environment and societies, not just shareholders in isolation. Industry pioneers implement programs weaving enterprises into the social fabric wherever they operate globally. Some champion artisans through ethical supply chains. Preserving cultural heritage lifts art forms from vulnerable to vibrant through respectable wages and international marketing. Cooperatives empower marginalized […]

Monopolies: an erosion of free market economy

In the modern world, the economic system that has totally prevailed is free market capitalism. Over the last centuries, no other system has been proven to be more efficient, free and just. Based on the premise of free choice and free exchange of goods and services under capitalism, the output has been maximized, unprecedented wealth […]