The Strategic Role of ‘Business Analytics’
Modern day data science and analytics serve as one of the best decision-support tools for top management by creating predictive models that help management focus on ‘precise targets’. Precision is the key to competitive edge. People are diverse, and their needs are best catered specifically. Marketers need to customize their messages and promotions for target audiences; management wants to pick the best candidates for jobs; public authorities need to prioritize services to the most needed. With limited resources, precise targeting is the most cost-effective and profitable way of doing business. This is where data and analytics play a crucial role. Several world best companies have acquired their current positions through strategic business analytics.