https://adiuventa.de/2020/08/15/business-studies-by-board-room-machen-sie-das-beste-daraus/

The volume of data that is created and consumed globally is growing exponentially and companies rely on business analysts to make data-driven choices. As the demand for business analysts rises, an online degree can help students meet the increasing demand in industries across the economy.

A company can utilize its data to find growth opportunities, while increasing the efficiency of its existing operations. By identifying the regions where a particular demographic spends money most frequently A business can then develop products or services that are appealing to these areas and strengthen their relationship with customers. Business analysts gather data on consumer habits and use this information to improve marketing strategies.

Predicting the performance changes over time, whether seasonal or annual on a more general scale, is a different aspect of business analytics. With the right data businesses can plan ahead and anticipate the need for additional resources, such as more staff or new marketing campaigns in peak seasons. Business analysts can also determine how much inventory a company will require from its suppliers. This reduces the amount of waste and increase sales.

Business analytics professionals utilize various software tools for analysis reporting, data collection and reporting. A lot of these tools can be utilized at no cost, including Microsoft Excel, which nearly all BAs utilize to keep track of requirements, record data, and manipulate data. Other popular tools include Balsamiq and Axure for wireframes, Visio, Tableau, PowerBI, Bokeh and LucidCharts for data visualization.