The purpose of this study was to demonstrate some parts of business analysis,
more specifically, to show the application of knowledge in business management and
real-life situation. The research explores some aspects of business analysis, including
enterprise management, foundations of business analysts, planning and monitoring,
and data science statistics. Business analysis is a crucial discipline in the growth
and development of business through implementing change. This paper covers the overview
of business analysis and the application of knowledge in real life and business
management. This brief demonstrates a summary of the business analysis programme,
including the business analysis foundations and statistics for data science. The
primary concepts outlined in business analysis foundations include business competencies,
enterprise analysis, requirements, and solutions. Similarly, the paper covers statistics
for data science, where vital concepts such as regression analysis, numerical and
categorical variables, fundamentals, distribution, and hypothesis testing are presented.
In addition, the analysis presents the most exciting discovery during the course
elaborating on the birth and development of business analysis from the 1940s until
today. Additionally, the paper covers the most crucial information presented in
the course: business analysis application and its benefits in organizations. Also,
it presents the application of business knowledge in daily life to define needs
and solve problems. Furthermore, business analytics knowledge is applied during
doctoral research and personal healthcare management. The brief covers the practical
application of business analysis skills in large corporations such as Apple Inc.,
including big data analysis, HR management, communication, and manufacturing. Besides
large corporations, business analytics skills apply in small companies in mitigating
risks, operation analysis, and market analysis. Lastly, the paper demonstrates the
practical application of knowledge in individual entrepreneurship, such as innovation
analysis, revenue generation, system analysis, and mind mapping.
References
[1]
Ajah, I. A., & Nweke, H. F. (2019). Big Data and Business Analytics: Trends, Platforms, Success Factors and Applications. Big Data and Cognitive Computing, 3, Article No. 32. https://doi.org/10.3390/bdcc3020032
[2]
Albright, S. C., & Winston, W. L. (2014). Business Analytics: Data Analysis & Decision Making. Cengage Learning.
[3]
Ashrafi, A., Ravasan, A. Z., Trkman, P., & Afshari, S. (2019). The Role of Business Analytics Capabilities in Bolstering Firms’ Agility and Performance. International Journal of Information Management, 47, 1-15. https://doi.org/10.1016/j.ijinfomgt.2018.12.005
[4]
Aydiner, A. S., Tatoglu, E., Bayraktar, E., Zaim, S., & Delen, D. (2019). Business Analytics and Firm Performance: The Mediating Role of Business Process Performance. Journal of Business Research, 96, 228-237. https://doi.org/10.1016/j.jbusres.2018.11.028
[5]
Chiang, R. H., Grover, V., Liang, T.-P., & Zhang, D. (2018). Strategic Value of Big Data and Business Analytics. Journal of Management Information Systems, 35, 383-387. https://doi.org/10.1080/07421222.2018.1451950
[6]
Globaldata (2022). Apple Inc: Overview. https://www.globaldata.com/company-profile/apple-inc/
[7]
Jeong, K.-S., Park, S.-J., Chun, S.-H., & Kim, J.-B. (2016). A Study on the Big Data Log Analysis for Security. International Journal of Security and Its Applications, 10, 13-20. https://doi.org/10.14257/ijsia.2016.10.1.02
[8]
Jin, D.-H., & Kim, H.-J. (2018). Integrated Understanding of Big Data, Big Data Analysis, and Business Intelligence: A Case Study of Logistics. Sustainability, 10, Article No. 3778. https://doi.org/10.3390/su10103778
[9]
Kraus, M., Feuerriegel, S., & Oztekin, A. (2020). Deep Learning in Business Analytics and Operations Research: Models, Applications and Managerial Implications. European Journal of Operational Research, 281, 628-641. https://doi.org/10.1016/j.ejor.2019.09.018
[10]
Krishnamoorthi, S., & Mathew, S. K. (2018). Business Analytics and Business Value: A Comparative Case Study. Information & Management, 55, 643-666. https://doi.org/10.1016/j.im.2018.01.005
[11]
Mikalef, P., Pappas, I. O., Krogstie, J., & Pavlou, P. A. (2020). Big Data and Business Analytics: A Research Agenda for Realizing Business Value. Information & Management, 57, Article ID: 103237. https://doi.org/10.1016/j.im.2019.103237
[12]
Palepu, K. G., Healy, P. M., Wright, S., Bradbury, M., & Coulton, J. (2020). Business Analysis and Valuation: Using Financial Statements. Cengage AU.
[13]
Paul, D., Cadle, J., & Yeates, D. (2014). Business Analysis (3rd ed.). BCS Learning & Development Ltd.
