Whether you know it or not, big data and analytics is being used around you every day. From customized website ads and suggested products for you to buy, to your insurance premiums changes or medical diagnostic test results, organizations are using the cumulation of massive data to better predict future outcomes and make business decisions based on them.
It is commonplace in today’s business world for organizations to use analytics to help guide their core strategies. One study showed that over 90% of these organizations are using business analytics (SAS and Bloomberg Businessweek, 2012). For most information systems, reports represent a small portion of the functionality implemented. However, on business analytics projects, complex reports and the ability to manipulate their contents constitute the core functionality.
While there are many applications commercially available to implement business analytics solutions, there is still a need for sound business analysis skills to ensure the right applications are selected and implemented. Well-defined requirements can make or break the overall productivity of using analytical software upon which business decisions are based.