Business Analytics in Today's Business Environment

Business analytics

Contents
INTRODUCTION...............................................................................................................................2
MAIN BODY.......................................................................................................................................2
Define Business Analytics and evaluate this in today’s business environment..................................2
Develop a model for Cincinnati Zoo so it can be used to gain competitive advantage......................3
REFERENCES....................................................................................................................................5

INTRODUCTION
Business analytics refers to a process of collecting, analysing and storing data as well
as information that help a business to improve its efficiency (Hofmann and Klinkenberg,
2016). On the basis of these kind of practices, an organisation can easily increase its revenue
and growth opportunities. With the help of business analytics approach, an organisation can
utilize informations that make the company more competitive in order to sustain for a long
term in target market. In this process, operational department of firm play an essential role in
order to convert available data into valuable information. Main objectives of implementing
business analytical approaches is to investigate past business performance to gain insight as
well as drive business planning for future perspectives. The business analytical approach in
this project is based on Cincinnati Zoo & Botanical Garden which is world’s top rated
zoological institution and a second oldest Zoo in the US. This report is going to determine
how business analytical approaches work as an effective tool in an organisation as well as
some identification of some methods that can assist to gain market opportunities. At last it
will also going to determine requirement of skills and employee performance in order to
manage appropriate tool that can aid to handle challenges related to big data.
MAIN BODY
Define Business Analytics and evaluate this in today’s business environment
In today’s world, each and every organisation wants to implement some evaluation
approaches that can assist in determining past working practices in order to make possible
changes to enhance future growth opportunities (Laursen and Thorlund, 2016). In this
process, business analytics play an essential role that can be used for descriptive analysis in
which data is utilized to understand past and present situation of firm. Major objective of
implementing such analysis is to assess current market position of organisation as well as
effectiveness of pervious business decisions. In respect of Cincinnati Zoo & Botanical
Garden, business analytical approach will assist in developing understanding of the available
primary and secondary data in more comprehensive manner. Major requirement of business
analytics in today’s environment is given below:
Helps in accurate decision making: Business analytics is essential for an
organisation as it helps to make business decisions process more accurate. In respect of
Cincinnati Zoo & Botanical Garden, this process will assist in data gathering of visitors, their