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Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods .
A business analyst should have knowledge in IT and/or business, but the combination of both of these fields is what makes a business analyst such a valuable asset to the business environment. As a minimum standard, a business analyst should have a "general understanding of how systems, products and tools work" in the business environment.
Business analysis is a professional discipline [1] focused on identifying business needs and determining solutions to business problems. [2] Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development.
Text analysis is the discovery and understanding of valuable information in unstructured or large data. [47] It is a method to transform raw data into business information, allowing for strategic business decisions by offering a method to extract and examine data, derive patterns and finally interpret the data. [48]
The situation, task, action, result (STAR) format is a technique [1] used by interviewers to gather all the relevant information about a specific capability that the job requires.
Context analysis is a method to analyze the environment in which a business operates. Environmental scanning mainly focuses on the macro environment of a business. But context analysis considers the entire environment of a business, its internal and external environment. This is an important aspect of business planning.
Business proposals are often a key step in a complex sales process, where a buyer considers more than price in a purchase. [1] A proposal puts the buyer's requirements in a context that favors the seller's products and services, and educates the buyer about the seller's capability to satisfy their needs. [2]
A business plan is a formal written document containing the goals of a business, ... competitor analysis; market analysis; marketing plan; operations plan; management ...