Nov 08, 2011

How are companies actually utilizing business analytics?

We are all familiar with the basics of business analytics solutions, but I am curious as to the most effective uses of business analytics in actual practice. How has it been put to best use as a tool whose utilization gives the most value to the organization?


The main use of business analytics is for strategy and planning.  There is such a huge flow of information out there, and businesses are finally figuring out how to use it to their advantage.  It allows decisions to be made from a more informed and rational basis instead of limited information and "gut feelings".  The trick is actually analyzing the data; poor analysis of good data can result in useless results.  Use of Business analytics is fast becoming a standard business practice in the US.   

I think perhaps it depends on the business in question. Different companies will use different kinds of software for analytics, and different managers will make use of it in their own way. It's very hard to generalize about what all companies will or won't do with the information.

You may want to browse the references and further reading in this article about it:


There's some info there that you might find interesting.
Answer this