What is the main goal of business analytics?

The main goal of business analytics is to enhance decision-making and business performance. This approach involves using data analysis and statistical methods to gain insights that drive strategic decisions within an organization. By translating complex data into actionable information, businesses can identify trends, forecast future outcomes, and make informed choices that optimize operations and improve overall performance.

Business analytics focuses not just on understanding what has happened in the past (descriptive analytics), but also on predicting future trends (predictive analytics) and suggesting actions to achieve desired outcomes (prescriptive analytics). This broad focus on data-driven decision-making allows organizations to be proactive, rather than reactive, leading to sustained competitive advantages and improved outcomes across various operational facets.

While creating marketing strategies and improving software development processes are important applications of business analytics, they are not its overarching goal. Similarly, developing new technology can be a part of a company's strategy but does not encapsulate the fundamental purpose of business analytics in driving overall decision-making and performance improvements.