2. Why Is Business Analytics Important?

Chapter objectives:

• Explain why business analytics is important in solving business problems.

• Explain why business analytics is important in identifying new business initiatives.

• Describe the kinds of questions business analytics can help answer.

• Explain how business analytics can help an organization achieve a competitive advantage.

• Explain different types of competitive advantages and their relationship to business analytics.

• Explain the importance of business analytics for a business organization.

2.1 Introduction

Telecommunication and information systems are collecting data on every aspect of life with incredible rates of speed and comprehensiveness. In addition, businesses are running ...

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