Business Analytics: Opportunities for Small and Medium Enterprises

Abstract

Business Analytics is a most trendy technology for business organization. In information technological world organizations used to predict the future events or decision making based on the past records or existing information. For that, Business Analytical Tools are very essential to guide and support for the executives. Not only large scale or multi-national companies, even small and medium size enterprises also can utilize these business analytics tools for their performance improvement. In this conceptual article discusses the different types of business analytics models which can be utilized for taking decision and it brief about the difference between business intelligence and business analytics. Also, this paper discusses about the various types of business analytics in the different domains. The overall purpose of the organization is to attain the goals and objectives and to make profit. It can be achieved if the company is used to analyze their business process through business analytics.

Keywords: Business Intelligence, Business Analytics, SMEs, Big Data, Analytics, Decision Making

JEL Classification: M15