CNV3-I2-1-Editorial

In today’s competitive markets, there is a great need for organisations to make a proper use of the data, which is being generated continuously. Data has become a new raw material for the business organisations. Data plays a crucial role in CRM, enhancing system efficiency, getting maximum ROI by evolving and implementing the business strategies. However, the analysed data needs deep insights to understand it and take an appropriate decision.

Hence to influence their process of decision-making the organisations are shifting their interest and focus on business data analytics. Analytics is facilitated through computer technologies, both in terms of hardware and software, to analyse massive amount of data for complex data patterns and data characteristics. In general, the application of Business analytics refers to the application and customisation of mathematical tools and computer techniques to get the positive outcomes in terms of sales, profits, costs, efficiency and effectiveness etc. The base algorithms and techniques are based on data mining and machine learning. However, business analytics focus on the practical application of these. Business analytics are built on the foundation of information systems theory wherein technology to is meaningfully contextualised and applied to solve the real-world business problem leading to the meaningful solutions. Business Analytics is basically an analysis of data using statistical which helps in design a predictive model using optimization techniques. The results are then communicated to customers, business partners, and college executives to take appropriate decisions which facilitate business growth. The fundamental requirement Business Analytics is evidence-based data which is processed through quantitative techniques for decision making. Business Analytics also provides support the organisation in proactive tactical decisions making process and helps to automate decision making in in real time environment.

In this issue, we have articles from business professional and academicians covering a broad spectrum of business analytics as an emerging discipline.

We like to end this editorial by mentioning the contribution from authors, who worked to the timeframes of this issue. We are deeply appreciative of their contributions and they are formerly acknowledged here.

We hope readers will enjoy reading this issue.

Dr Vinod Sople,

Chief Editor,

Dean Research, ITM Group