Business Analysis Process
Visibility
Discovery
Analyzing Business Insights
Analytics Insights
Systematic Analysis
Comparing Performance Across Business Units
Value Analysis
Comprehensive Overview of Customer Analysis 
Customer
analysis is a crucial component of
business analytics, particularly within the realm of descriptive analytics
...Definition of Customer Analysis Customer analysis refers to the
process of collecting, analyzing, and interpreting data related to customers
...
Visibility In the context of
business, visibility refers to the degree to which an organization can track and understand its operations, performance, and market presence
...business management, including: Operational Efficiency: Improved visibility leads to better resource allocation and
process optimization
...Data
Analysis Applying analytical techniques to interpret data and extract actionable insights
...
Discovery In the context of
business analytics and data visualization, "discovery" refers to the
process of uncovering insights, patterns, and trends from data
...Preparation Cleaning, transforming, and organizing the collected data to ensure its quality and usability for
analysis ...
Analyzing Business Insights Analyzing
business insights is a critical aspect of business analytics that focuses on understanding historical data to inform decision-making
processes
...Overview of Descriptive Analytics Descriptive analytics is the first step in the data
analysis process, providing a summary of historical data to understand what has happened in the past
...
Analytics Insights Analytics Insights refer to the actionable information derived from data
analysis, which helps
businesses make informed decisions
...Description Applications Data Mining The
process of discovering patterns and knowledge from large amounts of data
...
Systematic Analysis Systematic
Analysis is a structured approach used in the field of
business analytics to evaluate data and extract meaningful insights
...It encompasses a variety of techniques and methodologies aimed at improving decision-making
processes within organizations
...
Comparing Performance Across Business Units Comparing performance across
business units is a critical aspect of business analytics that enables organizations to evaluate their operational effectiveness and make data-driven decisions
...This
process involves the use of descriptive analytics techniques to analyze historical data and derive insights that can inform strategic planning and resource allocation
...Analysis Techniques Once data is collected, organizations can apply various analysis techniques to derive insights: Descriptive Statistics: Summarizing data using measures such as mean, median, and standard deviation to understand overall trends
...
Value Analysis Value
Analysis (VA) is a systematic approach to improving the value of a product or service by analyzing its functions and costs
...Process of Value Analysis The Value Analysis process typically involves several steps, which are outlined below: Information Gathering: Collect data on the product, its functions, and associated costs
...Future Trends As
businesses continue to seek efficiencies and cost savings, the importance of Value Analysis is likely to grow
...
Findings In the domain of
business, business analytics, and data mining, findings refer to the insights and conclusions drawn from the
analysis of data
...These findings play a crucial role in decision-making
processes, helping organizations to enhance their performance, optimize operations, and understand market trends
...
Risk Assessment Risk assessment is a systematic
process used in
business analytics to identify, evaluate, and prioritize risks associated with various business activities
...Risks Operational Risks Compliance Risks Market Risks Reputational Risks Risk
Analysis: Once risks have been identified, they are analyzed to understand their potential impact and likelihood of occurrence
...
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