What does "data analytics" involve in business decision-making? 🔊
"Data analytics" in business decision-making involves the systematic analysis of data to extract insights, identify trends, and support strategic planning. This process includes various techniques such as descriptive analytics, which provides historical insights, and predictive analytics, which forecasts future outcomes. By leveraging data analytics, businesses can make informed decisions, enhance operational efficiencies, optimize marketing strategies, and improve customer experiences. Data-driven decision-making is increasingly seen as a critical factor for competitive advantage in today’s data-centric landscape, driving innovation and growth.
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