Investing in Business Analytics training will allow professionals to obtain more attractive salaries and greater career progression.

Currently, Business Analytics is an area with increasing demand, as it allows companies to make decisions that are more aligned with their objectives based on factual information.

In other words, a Business Analyst must have in-depth knowledge of the company they work for and understand its needs, in order to help find the most appropriate strategic solutions to its objectives.

To do this, they will use different knowledge, such as mathematics and statistical analysis, to collect and interpret data with essential information, evaluating the company's performance, with the aim of making future decisions that are the most beneficial, at various levels.

Basically, a company that invests in Business Analytics specialists can take advantage of the most relevant information to be able to make strategic and effective decisions that contribute to business improvement.

Related article: Data Science: what does it consist of and what career paths does it lead to?

Different fields of Business Analytics analysis:

1. Descriptive analytics
   Interpretation of historical data to identify trends and consumption patterns;
2. Predictive analysis
   Use of information to make predictions and forecast the company’s future performance, based on statistical algorithms;
3. Diagnostic analysis
   Use and analysis of different data to identify the causes of a problem;
4. Prescriptive analysis
   Performing tests and other techniques to determine which process will have the best result in a given scenario.

Benefits for companies

Overall, organizations can benefit from integrating Business Analytics related services into their business strategies, and this happens on several levels:

1. Thanks to data analysis, complete profiles of the company's customers can be created, which make it possible to personalize the consumer experience and increase their loyalty - this area includes, for example, the analysis of data taken from social networks to predict "the feelings" of specific customers;
   
   
2. The speed and efficiency of operations is increased, as these professionals help to create solutions to improve the company's strategy, applying data analysis to projects and the control of various current processes;
   
   

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3. These specialists help quantify the company's data. Through the use of quantifiable data and, consequently, the interpretation of its values, it is possible for companies to choose the processes and strategies that make the most sense for them;
   
   
4. Business security is improved. As organizations increasingly face attacks that can jeopardize data security, and which can lead to high costs for them, using Business Analytics experts helps them protect themselves from the misuse of that data by internal or external threats, providing an optimal level of fraud prevention;
   
   
5. It is possible, for companies to use data for informed and non-intuitive decision-making through this area, through predictive analytics for example;
   
   
6. At the same time, risk is minimized, as these experts inform about possible future problems through predictive models that foresee scenarios that have not yet happened.

In short, the success of a Business Analytics strategy will depend on the quality of the data, qualified analysts and an organizational commitment to data-driven decision making converted into relevant information. Therefore, it is important that professionals in this area opt for the most complete training and with more professional opportunities.

Business Analytics training

Today, there are several educational institutions in the country that integrate this training in their courses, between postgraduate and master's degrees. For example, the Master's in Data Science and Advanced Analytics, with specialization in Business Analytics, offered by NOVA IMS, is aimed at people who want to implement the most appropriate analytical models for different business problems, interpret the results of the analysis and their implications for business, with the aim of making data-based decisions to optimize the business process.
 

More specifically, NOVA IMS' Postgraduate Program in Business Intelligence and Analytics for Hospitality & Tourism responds to the need for higher education in an area that is fundamental to the development of the national economy. It aims to prepare professionals capable of actively participating in the development and application of analytical models for Tourism, combining various areas of knowledge and adopting a transversal data science approach, in order to drive progress in this field.

About NOVA IMS

NOVA IMS is committed to a personalized teaching strategy that enables opportunities and constant evolution in an increasingly competitive job market in the areas of data science, management and information systems and technologies.

The courses offered aim to train senior employees prepared to respond to the challenges of a globalized and constantly evolving market.