Business analytics is the process of using data and statistical methods to gain insights and make better business decisions. The capability of a business to perform analytics refers to its ability to collect, process, and analyze data effectively in order to gain insights and improve its decision-making. In our experience, this involves having the right tools and technology, as well as a team of skilled analysts who understand how to extract meaning from data.
Beginner competence definition
A beginner in business analytics may struggle to understand the basic concepts of data analysis and interpretation. They may lack the ability to effectively use tools and techniques for data collection, cleaning, and analysis, not being able to fully understand the importance of creating and interpreting data visualizations. They might also struggle to make data-driven decisions.
Intermediate competence definition
An intermediate-level individual in business analytics understands the basic concepts of data analysis and interpretation. They can effectively use tools and techniques for data collection, cleaning, and analysis, understanding the importance of creating and interpreting data visualizations and can use this information to make data-driven decisions.
Advanced competence definition
An advanced-level individual in business analytics not only has the ability to understand the basic concepts of data analysis and interpretation, but also proactively anticipates future data needs, taking steps to address them. They have exceptional skills in data collection, cleaning, and analysis, and effectively leading and coordinating teams to achieve common goals. They possess a deep understanding of business analytics which they can use to anticipate and adapt to the needs of different individuals and situations. They can navigate complex situations, deliver high-quality results, and exceed expectations. They have a strong sense of accountability and take ownership of their work and deliver results under pressure. They can create a culture of data-driven decision-making within the organization, increasing efficiency, productivity, and competitiveness. Their strong analytical skills enable extracting insights from large and complex data sets, which can be used to support decision-making and identify new opportunities for the organization. Advanced individuals effectively communicate and collaborate with different stakeholders, providing them with regular feedback and support.