Past, Present and Future of Business Analytics – A Review

The competitive corporate environment is forcing entities to adopt new methods of work control and mechanization that ensure effectiveness. These methods of business mechanization through computer applications are known today as business analytics. Analytics portfolios help organizations to better identify and meet customers’ needs while mitigating risks of managing business for better. These techniques lower the cost incurred on producing products/delivering services as well as maximize output. This study elaborates on techniques being used, their advantages and gaps therein in order to make businesses even better. The information collected is processed through Business Analytics (BA) tools to better depict results. This analysis helps in managing and anticipating the results of different problems including business outcomes. BA tools provide a better way to manage the whole business which leads to higher outcomes in terms of business growth. Purpose of the study is firstly to thoroughly understand the very concept of Business Analytics (BA) and then propose a theory based on my research and understanding of the term as to how Business Analytics (BA) lead to greater competitive advantage of the organizations