refers to collecting and analysing data from the past to make predictions or guide strategy moving forward. Analytics are particularly important for businesses to determine whether their processes are working effectively.
By taking a look at what has happened in the past, individuals and teams are able to make better decisions about the actions they should take in the future. For example, analytics for a company’s website will give them information about how users are coming to their page, how long they are staying, and how they move through the site.
Taking this information, a team could make adjustments designed to keep people in the site longer or get them to the pertinent information (maybe a sales or contact page). Although analytics are used extensively outside of business as well, business analytics are a core tool in creating business systems and modelling for the future.