However, only 4% of these companies are using the right mix of resources (people, tools, and data), according to a Bain & Company report.įundamentally, business intelligence professionals use data analytics to seek out patterns and trends in various forms of data. Filling the GapsĬompanies investing in business intelligence as part of an overall business strategy expect to see a range of benefits, including reduced costs, decision-making insight, and increased efficiency. For example, a business can mine its data to identify what customers are buying certain products and at what times and, in turn, develop tactics to boost potential sales. As a result, businesses can find patterns in structured and unstructured data to glean key insights that may provide a competitive edge in the future. Skilled professionals combine these methods and others with artificial intelligence (AI) and machine learning capabilities. Prescriptive analysis and predictive modeling often contribute to data analytics. The data can vary - sales performance over a period of time, customer activity, or operational costs, for example. What is business intelligence, and what role does analytics play in business strategy? Business intelligence entails the analysis of past and present data to create actionable insights for informed decision-making.
Our Online Master of Business Analytics at Ohio University teaches tomorrow’s business intelligence leaders how to use data analytics to identify business trends, create data models, and solve complex problems.
A recent IBM report cites a growing need for data science and machine learning skills (40% and 17% increases, respectively).
Business intelligence can add tremendous value in these areas, which is why business intelligence and data analytics professionals are in high demand. Executive Master of Public AdministrationĬompanies implement business strategies with key goals in mind: to reduce costs, improve efficiency, and strengthen profitability.Master of Science in Nursing (blend of online & in person).Russ College of Engineering and Technology.Principal Preparation Program (blend of online & in person).Online Master’s in Early Childhood and Early Childhood Special Education.Online Master of Curriculum and Instruction.Online Master of Arts in Organizational Communication.