The importance of Business Analytics can be understood from the fact that all the major business decisions come from it. Business Analytics helps businesses to understand what has happened in the past along with the predictions of what will happen in the future. Business analytics makes these predictions with the help of historical and present data of Business. Businesses use analytics tools to gain insights into important business trends and use them to take big business decisions. Financial companies use Business analytics to predict frauds and risks involved while food giant like McDonald uses Business Analytics to customize services. The uses of Business Analytics are wide that every sector today uses Business Analytics to take the business to the next level. Looking at the number of benefits provided by Business Analytics, companies today are actively searching for Professionals who can work with complex business data and find relevant insights out of those. In this article, we will be looking at some of the most amazing books on Business Analytics which will give you enough understanding about the techniques and tactics to explore big datasets and find meaningful insights out of it.
But before diving in that let us differentiate the two terms- "Business Analytics" and "Business Intelligence" which are confused with each other by most of the learners today. "Business Analytics" and "Business Intelligence" are so interlinked with each other that often a novice gets confused between these two terms and take these as similar.
Let us understand the difference between the two terms with this statement by Mark van Rijmenam.
"BI is looking in the rear-view mirror and using historical data. Business Analytics is looking in front of you to see what is going to happen."Mark van Rijmenam, CEO / Founder at BigData-Startups
While Business Intelligence uses past and present business data to find trends in businesses, Business Analytics uses historical and present data to predict future events, which is very important from the business' perspective.
Some Amazing Business Analytics Books:
This book by Bernard Marr is very effective in creating the best data strategy to find the most meaningful insights for improved business decision-making and performance. The book is provided with best case studies and real-world examples which will advise you on how to build data competencies in an organization. Explaining from how to identify your strategic data needs to the methods to use to collect the data the book focuses on how o translate your data into organizational insights which are very helpful for taking big business decisions. The book will be very helpful to you and I personally recommend it to every learner.
Graphics play a very important role in Business analytics when with the use of graphics complex datasets can easily be interpreted to find insights. The use of graphics makes the data easier to visualize, so it becomes essential for any learner to know the techniques for good graphics. You will learn in the book:
- How to choose the best chart that fits your data;
- the most effective way to communicate with decision makers when you have five minutes of their time;
- how to chart currency fluctuations that affect global business;
- how to use color effectively;
- how to make a graphic "colorful" even if only black and white are available.
In this book you will learn:
- The Importance of Data in Business
- How to Handle and Manage Big Data
- Real World Examples of Data Science Benefiting Businesses
- Ways Data Can Be Used to Mitigate Risks
- The Entire Process of Data Analytics
The teachings provided in the book are simple and understandable by any reader. Real world examples are put in the book to help you learn the best through practical examples. A lot of analytics concepts you will learn in the book that is relevant in business.
The book will take you to the real world examples by exemplifying companies which use Business Analytics to take the most successful business decisions. You will learn in the book:
- how predictive analytics helps Amazon, Target, John Deere and Apple understand their customers
- Discover how big data is behind the success of Walmart, LinkedIn, Microsoft and more
- how big data is changing medicine, law enforcement, hospitality, fashion, science, and banking
- Develop your own big data strategy by accessing additional reading materials at the end of each chapter