Business Analytics: Challenges and Innovations for the Modern Enterprise

Abstract

Business analytics has significantly improved in recent years, providing better insights from operational data stored in transactional systems. Recent years have witnessed significant advancements in business analytics, particularly in extracting insights from operational data stored in transactional systems. E-commerce data analysis stands out as a prime example, integrating clickstream records with demographic and behavioural data to offer valuable insights. However, despite these advances, business users encounter challenges in leveraging data for decision-making. These include reducing the cycle time of data collection and analysis, minimizing the expertise needed for analysis, defining clear business goals, collecting relevant data, disseminating analysis results, integrating data from diverse sources, and optimizing applications for specific industries. Emerging trends focus on virtualization, incorporating industry-specific knowledge, and utilizing wireless devices for accessing analytical information.