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Benefits of Data-Driven Decision Making with Business Analytics Companies use Business Analytics (BA) to make data-driven decisions. The insight gained by BA enables these companies to automate and optimize their business processes. In fact, data-driven companies that utilize Business Analytics achieve a competitive advantage because they are able to use the insights to: Conduct data mining (explore data to find new patterns and relationships) Complete statistical analysis and quantitative analysis to explain why certain results occur Test previous decisions using A/B testing and multivariate testing Make use of predictive modeling and predictive analytics to forecast future results Business Analytics also provides support for companies in the process of making proactive tactical decisions, and BA makes it possible for those companies to automate decision making in order to support real-time responses.
