Why is data analytics getting more preference over business analytics in these troubled times?

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Analytics is a tool with immense power and possibilities. After the emergence of COVID19, businesses, both small and big alike leaned towards analytics. The reason for this sudden-found preference is the blessing of efficiency. With the help of analytics businesses and commercial entities can run internal and external affairs with more finesse. This heightened performance is achieved by reforming the internal coordination and strategic market decisions.

This can only be achieved by the analysis of a massive amount of data. All kinds of data are related to a region or people. Trained analysts are expected to possess the skill of handling this massive amount of data and put it to good use. Both business analytics and data analytics concentrate on the utilization of massive amounts of different kinds of data sets. And derive a plan for better operations both for internal and external agendas. Over the past few years, data analytics is gaining more popularity than business analytics. And the times we are going through have propelled data analytics high up in the sky as a discipline. But business analt\ytics is still in preference by many commercial bodies. This article will try to elaborate on why the discrepancy of preference is evident among different businesses. And enlighten the reader enough before they set out to build a career in analytics.

In order to understand the scenario better, we must dive into the expected roles of business and data analysts.

The role of a business analyst

A business analyst is an important asset to a company. A business analyst is expected to be a good manager, able to coordinate different divisions of a business in order to introduce significant changes in the reliability of an organization. A business analyst deals with past business data. This data is huge and it is humanly impossible to extract relevant information from it. Thus a business analyst is also expected to possess some data science skills along with the ability to deploy analytics tools. Once the extract is available for analysis. A business analyst makes sense of the information and derives strategies for commerce and management.

The different stages of business analytics are in chronological order are – descriptive analytics, diagnostic analytics, predictive analytics and prescriptive analytics. As the name suggests, the first stage concerns the description of extracts gathered by mining loads of business data. The second step involves identifying the problem and reaching the origin of the inconvenience. Predictive and prescriptive analytics involves the prediction of the future market and internal scenario and planning the actions according to the prescriptions.

This exclusive dependence on business data renders business analytics somewhat narrow. And the deployment of business analysts is restricted to hard-core commercial entities. The role of a business analyst is of responsibility and delivery of better results. This particular role is expensive to maintain, thus small and new businesses do not prefer to hire a business analyst.

The role of a data analyst

A data analyst is expected to be concerned with all kinds of data. Different kinds of data such as population, health and geographical data can be utilized even before the commencement of any business. Data analysis can also suggest the kind of business required to earn profit from a region. Business analysts can not suggest any modifications to the product before the product is on sale for a while. But data analysts can predict the needs of consumers and help in designing a product accordingly. Hence, the chances of failure can be reduced by data analytics significantly. Small startups and businesses are already on the verge of extinction in the face of the pandemic. And the scenario demands more careful steps. Thus leaning towards data analytics is no coincidence.

Author’s words

Given the situation humanity is going through, getting started with business is more difficult than ever. Businesses are realising the need for deploying data analysts in order to save the endeavours. Perhaps the time is ripe for seeking an analytics certification and of course top-notch training. Alongside having industry-ready training one must seek opportunities for hands-on work experience. Among the job seekers in data analytics, a candidate with experience is always preferred over the freshmen. Because a data analyst is expected to drive the business in the right direction while making information available for every division. This important role is given to the wrong person, new businesses can go extinct within a very short time.

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