Analytics have been a key tool in improving the company’s decision making process. Business analytics is used by managers to analyze historical data, identify opportunities and predict future developments, thereby enhancing company operations. Business analytics is becoming increasingly valuable as companies seek to gain a competitive edge in their market. To achieve their specific goals of giving managers consistent, accurate and reliable information to help them make decisions (Viaene & Bunder 2011, 2011). The purpose of this article is to provide corporate managers with the reasons for using business analytics to achieve the desired competitive level. Business analytics should use these methods to improve the process and keep producing accurate results.
This article focuses on the failure of most firms to adapt their business analytics to meet their organization’s needs. Companies must attain the rank of their analytical competitors. It means they have to be able use available data in order to reach the right levels of market competition. Organizations have rarely achieved this rank (Viaene, Bunder 2011). Another topic that the paper plans to explore is technology’s evolving nature. There are many ways for companies to make use of their business data to help them create plans that address current and future problems. It concludes with a discussion on the importance of execution and planning (Viaene, Bunder 2011, 2011). This paper aims at educating corporate managers about the importance and benefits of execution rather than project planning.
Here are some tips that business managers can use to help their companies achieve desired results. Execution must be prioritized over planning. Business analytics projects should prioritise implementation rather than planning. Many project components may change as the project progresses and is completed. Second, business analytics must focus on gaining support from multiple stakeholders in order to make it effective (Viaene & Bunder 2011, 2011). It is possible to be sure that all stakeholders support this initiative and contribute to its success. It concludes by highlighting the necessity of experimentation to improve the learning process. Managers can identify improvements and stabilize projects via analytics through experimentation.