What You Need to Know About Using an Analytics Platform as a Business Analyst

How use an Analytics Platform as a Business Analyst?

Photo_Persona-2Data analytics is a new buzzword in the world of business, with many companies investing in more data-driven strategies. What does this mean for you, though? If you’re a business analyst, it means that you have access to powerful tools to help your company grow and thrive! In addition, you could be one of the people who needs an analytics platform. These platforms can give you valuable insights about your customers, making it easier for you to provide what they want. On this page, we’ll discuss how using a data analytics platform can make life as a business analyst easier.

 

 

What is an Analytics Platform

 

A data analytics platform is a system that is used to store and analyze large amounts of data. It’s able to quickly find insights and patterns in your data using sophisticated algorithms. It can also be used for predictive modeling and machine learning. Although there might be a learning curve and initial investment involved in using an analytics platform, there are also many benefits to consider. For example, executives that use an analytics platform save an average of 20 days per year! 

 

What is a Business Analyst & How Can They Make Use of an Analytics Platform

 

A business analyst understands how to use data collected from a company, like customer information and sales data, to make decisions and provide insights for the company. One of the main goals of a business analyst is to help understand what customers want and predict their next move. Business analysts can use an analytics platform to spot trends and patterns in data more quickly than they would with just Excel or other software.

 

5 Benefits of Using a Data Analytics Platform as a Business Analyst

 

If you are a business analyst, you might initially be a little skeptical as to whether or not a data analytics platform could help you be better at your job. With some basic background information out of the way, let’s go ahead and explore more on why an analytics platform is helpful for business analysts.

 

1. Access to Powerful Chart Creation & Data Processing Tools

 

Visualization and data processing tools can be compelling for business analysts. With access to visualization and data processing tools, business analysts will be able to create better charts that will help them spot trends and patterns in their data quicker than they would via Excel or other software.

 

2. Heightened Understanding of Business Trends

 

With an analytics platform, business analysts will have a better understanding of their company’s business trends. These platforms can spot trends and patterns in data quicker than other software, which can provide business analysts with all the information they need for analysis.

 

3. Increased Confidence for Tough Decisions

 

There are many tough decisions to make as a business analyst. For instance, you may have to determine which customer offers the most potential for future revenues or decide where your company should invest more of its resources. Having an analytics platform can help you make these decisions with more confidence. It will provide you with plenty of information and lots of relevant data that you will need for tough decisions. 

 

4. Save Lots of Time

 

A significant benefit that you’ll get from using an analytics platform as a business analyst is the ability to save tons of time. With this system, you’ll be able to spot trends and patterns in your data more quickly, which will help you make decisions quicker. Previously, it would take a lot of time and effort to do this on a business analyst’s part.

 

5. Get Ahead in Your Career & Be More Productive

If you want to get ahead of other people in your professional niche, using an analytics platform as a business analyst is one way to do it. Tasks that previously would have taken lots of time and effort will be much easier for you to complete, and you’ll also start making better decisions than before. As a result, your productivity will boost. 

 

3 Potential Disadvantages of Using an Analytics Platform for Business Analysts

 

Of course, everything that glitters isn’t always gold. Therefore, we need to understand the downsides of using an analytics platform for business analysts. Here are some things that you should be on the lookout for.

 

1. The Initial Investment

 

The first potential disadvantage of using a data analytics platform is the financial investment. While these tools are certainly worth it in the long run, they can be expensive to set up and maintain. It’s best to go into this with your company to make sure they’re prepared for the cost.

Businesses have noticed a 6% revenue increase within three months of using a data analytics platform in the past. Therefore, try to view this as an investment that can potentially return.

 

2. The Learning Curve

 

Another potential disadvantage is that many platforms require training to use them well. If you don’t have access to the right resources, you’ll need additional time and money to get up-to-speed on using the platform.

To counter this, you should make sure that your company is willing to make time for training. Without this, you’ll have a tough time using the platform and getting value out of it.

 

3. Data Overload

 

Finally, some analysts are worried about information overload when using these platforms. With so much data at your fingertips, it’s easy for reports and insights to get lost in the database.

One way to avoid this is by keeping the platforms well-organized. Another thing you can do is prioritize your data so that you don’t have to sift through it all at once, but rather only focus on what’s most relevant or impactful for your company. You could also organize reports into folders based on their topic area so that the information you need is always in one place.

 

Want to Learn More About Analytics Programs?

 

An analytics platform can be an invaluable tool for business analysts. It will provide them with all the information and data they need to make decisions about their company’s future, leading to increased revenue or less time spent on tedious tasks.

However, there are also some downsides that you should keep in mind before jumping into this investment: training is necessary, it may be expensive at first, and if not managed properly, then it might lead to information overload. If your company wants more value from its digital marketing strategy or wants to increase sales by tapping more in-depth into the data, you should keep researching more on this topic for yourself!

 

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