Describe your interest in business analytics area
Describe your interest in business analytics area
Interest in Business Analytics Area
Business has ruled the world in one way or another and will continue domineering in the centuries to come. Business is booming globally, and those who are well-versed with its concepts are better positioned to succeed in this area. I am interested in business analytics (BA) since it involves using data to identify where companies could improve in terms of business and ways to achieve that (Bedeley et al., 2018). BA employs tools in statistical and operations analysis using a specific dataset. Implementation of BA entails using internal and external data to improve operational efficiency and business performance (Yin & Fernandez, 2020). For a business to boom, it needs to solve a particular problem (s) effectively. Therefore, more business professionals with skills in business analytics are needed to make informed decisions that promote organizational success.
Business analytics offers evidence to guide decision-making. According to Yin and Fernandez (2020), business analytics helps organizations substantiate the decision-making process instead of making decisions grounded on experience and assumptions. BA also speeds up the decision-making process. Wang and Byrd (2017) further explain that applying BA helps organizations develop a better understanding of markets and customers to enhance customer services and the quality of customer marketing.
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My interest in BA is also due to the high demand for individuals with analytic skills. Power et al. (2018) assert that most employers want to hire employees who can employ tools to analyze data and understand the analyses needed and the meaning of results. People with BA skills understand an organization’s external environment, including customers and principal stakeholders (Yin & Fernandez, 2020). The Master’s in Business Analytics program will offer opportunities for hands-on and real-world experiences. It will equip me with knowledge and skills in various areas, including customer preference management, customer acquisition targeting, credit risk analysis, utilizing real-time location data to target customer offers, and cross-selling/upselling.
Describe your interest in business analytics area References
Bedeley, R. T., Ghoshal, T., Iyer, L. S., & Bhadury, J. (2018). Business analytics and organizational value chains: a relational mapping. Journal of computer information systems, 58(2), 151-161. https://doi.org/10.1080/08874417.2016.1220238
Power, D. J., Heavin, C., McDermott, J., & Daly, M. (2018). Defining business analytics: An empirical approach. Journal of Business Analytics, 1(1), 40-53. https://doi.org/10.1080/2573234X.2018.1507605
Wang, Y., & Byrd, T. A. (2017). Business analytics-enabled decision-making effectiveness through knowledge absorptive capacity in health care. Journal of Knowledge Management. https://doi.org/10.1108/JKM-08-2015-0301
Yin, J., & Fernandez, V. (2020). A systematic review on business analytics. Journal of Industrial Engineering and Management, 13(2), 283-295. http://dx.doi.org/10.3926/jiem.3030
