3.2 Business Analytics

Business analytics (BA) is a set of disciplines and technologies for solving business problems using data analysis, statistical models and other quantitative methods. It involves an iterative, methodical exploration of an organization’s data, with an emphasis on statistical analysis, to drive decision-making.

3.2.1 Market Analysis

A market analysis can help you identify how to better position your business to be competitive and serve your customers.

And you can find more instructions here

Common analysis pattern you may use:

3.2.2 Business Model

The term business model refers to a company’s plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. Business models are important for both new and established businesses.

Useful website for you to see some examples of business model. There are 9 components in a business model:

  • Key Partners
  • Key Activities
  • Key Resources
  • Value Propositions
  • Customer Relationship
  • Channels
  • Customer Segments
  • Cost Structure
  • Revenue Streams

3.2.3 CBAP

CBAP stands for Certified Business Analysis Professional. This certification is the title given to professionals who sit for and pass the CBAP exam.

You can obtain more information here.

3.2.4 Consultant

A consultant is a professional (also known as expert, specialist, see variations of meaning below) who provides advice and other purposeful activities in an area of specialization.

Consulting services generally fall under the domain of professional services.

The role of consultant outside the medical sphere (where the term is used specifically for a grade of doctor) can fall under one of two general categories:

  • Internal consultant: Someone who is either employed by or contracted by a client organization, and operates within a client-organization (maybe as part of an internal consultancy unit); or
  • External consultant: Someone who is employed externally to the client (either by a consulting firm, some other agency or as an independent freelancer), whose expertise is provided as part of a contract for a fee or rate.

3.2.5 Power BI

Power BI is an interactive data visualization software product developed by Microsoft with a primary focus on business intelligence.[1] It is part of the Microsoft Power Platform. Power BI is a collection of software services, apps, and connectors that work together to turn unrelated sources of data into coherent, visually immersive, and interactive insights. Data may be input by reading directly from a database, webpage, or structured files such as spreadsheets, CSV, XML, and JSON.

Power BI Online Platform and Installation:

BI

3.2.6 Exploratory Data Analysis (EDA)

In statistics, exploratory data analysis is an approach of analyzing data sets to summarize their main characteristics, often using statistical graphics and other data visualization methods. A statistical model can be used or not, but primarily EDA is for seeing what the data can tell us beyond the formal modeling and thereby contrasts traditional hypothesis testing.