Business Analytics refers to the practice of using data analysis, statistical techniques, and business intelligence tools to understand and interpret business performance data. It involves collecting and analyzing past business performance metrics to inform decision-making, optimize processes, and predict future outcomes. Business Analytics encompasses a range of activities, including descriptive analytics (what happened), diagnostic analytics (why it happened), predictive analytics (what is likely to happen), and prescriptive analytics (what should be done). The goal is to leverage data-driven insights to enhance operational efficiency, drive strategic planning, improve customer satisfaction, and ultimately increase profitability. It is utilized across various industries to support data-informed decisions and strategies, often involving software and technology platforms that facilitate data visualization and reporting.
Transforming payment data into a strategic goldmine for businesses. In the quest for increasing sales and acquiring new customers, many companies primarily focus on advertising and attracting clients. However, one…