Business Data Analytics is a field of applying different computational methods and techniques in order to utilize the existing knowledge drawn from the business context to generate insights about current as well as to predict futuristic possible outcomes for any given organization.
Business data analytics uses data and advanced statistical technique to perform descriptive, predictive and prescriptive analysis. This domain of research is providing service to business and society by discovering, designing, implementing and evaluating different methods and techniques to generate knowledge that helps business and society generate actionable insights based on the past data.
There has been a huge advancement in this area however due to more and datasets being generated there are technological and financial challenges that need to be built with in order to fully exploit the opportunities that are provided by this change. The organization are more than ever ready to embrace such change that makes them more analytically equipped.
The organizations, all over the globe are quite successfully using the Business Analytical techniques in their day to day business however there are countries that need infrastructural and methodological support in order to take benefits of huge possibilities associated with adoption of such technologies.