I think it is important to note that even with business analytics that is not the primary concern. There are many decisions we have to make to ensure our business and operations deliver the best product and services possible. Those decisions are not in business analytics but in many other areas. A good business analytics method will help you determine what those decisions are and how to apply them in your business.
Business analytics is a business tool but it isn’t a “science.” There are so many different ways to determine what a business should produce. It is important that you consider your company’s “business” goals when determining that it is a good business to use business analytics to help determine. For example, a company that produces luxury goods and services may not want to measure how many sales they have a year and how much revenue they make.
However, there are also companies that have been successful with the technology of business analytics. The biggest difference between the two is that one company is a huge winner with this technology and therefore is very profitable. However, there are many companies that are not. This is why deciding whether or not to use business analytics is so important.
The first thing to consider when using business analytics is your own role in the data. The very first question you should ask yourself is: Is my company the only one doing this? If this is the case, you will probably have to spend a lot of time and energy trying to get others to use this technology. However, if you already have a large number of competitors, you may not be the only person who uses analytics.