According to a recent press release, “Quantzig, a global analytics solutions provider, has announced the completion of their latest article on the key benefits of business analytics in the business world. Healthcare professionals are concerned about many things, such as – if there are enough measures available that must be taken in case of flu? Or are the patients operated yesterday likely to get infected? How can hiring staffs and providing facilities be done in a profitable manner? These questions can be answered precisely using advanced analytics, which, in turn, can help reduce health care costs.”
The release goes on to list key benefits of business analytics: “(1) Business analytics helps in cost control: There are two crucial factors behind the failure of businesses, one is poor financial management and the other is bad planning. Business analytics helps in refurbishing the current plan for business and in formulating a proper strategy, planning, and strong financial management for the growth of the business… (2) Quick and wise decision making: Quick decision making is critical to gain a robust foothold in the market. Its capacity to understand and forecast the upcoming market challenges communicates the need for business analytics. Business analytics helps crack the factors that pull back the business and, therefore, suggests strategies to boost growth... (3) Analyzing competitor wisely: Competitor analysis is useful and advisable for all the businesses to succeed. It includes many steps like recognizing competitors, deciphering their goals, their strategies, measuring their strengths and weaknesses, finding their challenges, and finally whom to target and whom not to.”
Read more at Business Wire.
Photo credit: Quantzig