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10 Serious Business Analytics Mistakes You Should Avoid

It’s been quite long since the term ‘Business Analytics’ was coined, but businesses are still unable to deal with it effectively. “Business Analytics basically refers to the thorough investigation of a business’s past performance with the utilization of advanced technologies, skills, applications, tools, and practices in order to identify the blocks of improvement.” It often includes quantitative, statistical, explanatory, predictive as well as fact-based data and analysis that help in better decision-making. Business Analytics is basically helping businesses to makes sense out of their data by answering the following set of questions efficiently:  Why are certain things happening?  What will happen in near future?  What will push these things? and,  What things led to the current situation? In addition to the above mentioned, there are many other purposes that Business Analytics report serves for every business including:  It helps to make a sound business decision that influences overall functioning in the organization.  It enhances the level of understanding towards available data resources to improve operational efficiency at different levels.  It helps to process information in a meaningful manner in order to offer competitive benefits to the organization.  It helps to convert the collected business data into valuable information block that foster informed decision making. Even after the evolution of advanced tools to conduct analysis precisely, there are certain mistakes that analysts or managers do in analyzing overall business performance, regardless of the number of years they have spent in their profession. This post contains the extract of such common mistakes and has listed 10 serious Business Analytics mistakes that you should avoid at all costs. Let’s have a quick overview-  1) Don’t be Confused about Your Role First and foremost thing you should take care of is your role and responsibilities for the assigned project. With a defined scope of your role, you will know the things you are answerable for. 2) Don’t List Requirement On Your Own Being a Business Analyst, you are not supposed to work on assumptions, especially when it is about business requirements. Make sure you carefully analyze the business requirements for the upcoming project by discussing them with the individual department heads or team leaders. 3) Don’t Hesitate in Raising Queries Don’t be afraid to raise questions. If you do not raise queries, you might feel unable to answer your seniors or stakeholders for problems that may arise in the later phase of the project, just because you couldn’t clarify certain things. 4) Don’t Miss Functional Requirements  Once you are sorted with the business requirements, it’s time to trace them in test cases with the functional requirements and development practices for making the entire process smooth for not only you but everyone else. 5) Don’t Forget to Get Feedback Whether you are about to float any report, important document, or a PowerPoint presentation, make sure you seek feedback from the concerned persons including project managers. This will help you improve at personal as well as professional level. 6) Don’t Ever Ignore the Stakeholders Ignoring your stakeholders for any reason, especially at your level may invite trouble. Follow a proactive approach through a one-on-one meeting to take their opinions and leave no stone for possibilities or potential risks unturned. 7) Don’t Be In Hurry to Complete Tasks Don’t work on anything just for the sake of completing. Understand the criticality of your role for your business and act in a responsible way. Being too speedy about things could turn out to be a deal breaker. 8) Don’t Let Excuses Kill Your Productivity If there’s something that is interfering with your productivity, you should take a break or convey it directly to your manager, rather than coming up with excuses and causing an unnecessary delay in business processes. 9) Don’t Mix Up Stated Needs With Real Ones After conducting different processes including one-on-one sessions, anonymous surveys, and group discussions, you will get a long list of needs from the employee (or real-time users). Your responsibility is to sort out the real needs from that list through your keen investigation. [Remember: Anything that we think we need is not necessarily something we actually need. There are other solutions around to work upon] 10) Don’t Believe in Rhetorical Statements Gone is the time when rhetorical statements were used to cover reports or reflect outcomes. Now, you should have clear and concise statistical data in hand to prove the credibility of the resources, tools, or processes involved in a particular project. 11) Don’t Refrain from Quantifying Results Last but not the least, when it comes to showcasing the estimated results in terms of ROI, let the numbers express the whole story to the concerned managers, CEOs, stakeholders. If your report says that customer complaints reduced by 40%, they will be able to make sense out of it.  If you are a Business Analyst too, you can also create a checklist accordingly to avoid these fallouts and give your best for every project assigned. Are you ready to be a smart business analytics professional? We provide Certified Business Analysts Professional training, to check out the schedule click here  
10 Serious Business Analytics Mistakes You Should Avoid
Priyanka

Priyanka Arora

Blog Author

Priyanka Arora is a professional content writer who specializes in business-class writing. Her overall work experience includes writing quality product descriptions, articles and blogs, sales emails, landing Pages, website content, case Studies, newsletters, press releases and product reviews . Connect with her at <a />linkedin</a>

10 Serious Business Analytics Mistakes You Should Avoid

It&rsquo;s been quite long since the term &lsquo;Business Analytics&rsquo; was coined, but businesses are still unable to deal with it effectively. &ldquo;Business Analytics basically refers to the thorough investigation of a business&rsquo;s past performance with the utilization of advanced technologies, skills, applications, tools, and practices in order to identify the blocks of improvement.&rdquo; It often includes quantitative, statistical, explanatory, predictive as well as fact-based data and analysis that help in better decision-making. Business Analytics is basically helping businesses to makes sense out of their data by answering the following set of questions efficiently: &nbsp;Why are certain things happening? &nbsp;What will happen in near future? &nbsp;What will push these things? and, &nbsp;What things led to the current situation? In addition to the above mentioned, there are many other purposes that Business Analytics report serves for every business including: &nbsp;It helps to make a sound business decision that influences overall functioning in the organization. &nbsp;It enhances the level of understanding towards available data resources to improve operational efficiency at different levels. &nbsp;It helps to process information in a meaningful manner in order to offer competitive benefits to the organization. &nbsp;It helps to convert the collected business data into valuable information block that foster informed decision making. Even after the evolution of advanced tools to conduct analysis precisely, there are certain mistakes that analysts or managers do in analyzing overall business performance, regardless of the number of years they have spent in their profession. This post contains the extract of such common mistakes and has listed 10 serious Business Analytics mistakes that you should avoid at all costs. Let&rsquo;s have a quick overview-&nbsp; 1) Don&rsquo;t be Confused about Your Role First and foremost thing you should take care of is your role and responsibilities for the assigned project. With a defined scope of your role, you will know the things you are answerable for. 2)&nbsp;Don&rsquo;t List Requirement On Your Own Being a Business Analyst, you are not supposed to work on assumptions, especially when it is about business requirements. Make sure you carefully analyze the business requirements for the upcoming project by discussing them with the individual department heads or team leaders. 3)&nbsp;Don&rsquo;t Hesitate in Raising Queries Don&rsquo;t be afraid to raise questions. If you do not raise queries, you might feel unable to answer your seniors or stakeholders for problems that may arise in the later phase of the project, just because you couldn&rsquo;t clarify certain things. 4)&nbsp;Don&rsquo;t Miss Functional Requirements&nbsp; Once you are sorted with the business requirements, it&rsquo;s time to trace them in test cases with the functional requirements and development practices for making the entire process smooth for not only you but everyone else. 5)&nbsp;Don&rsquo;t Forget to Get Feedback Whether you are about to float any report, important document, or a PowerPoint presentation, make sure you seek feedback from the concerned persons including project managers. This will help you improve at personal as well as professional level. 6)&nbsp;Don&rsquo;t Ever Ignore the Stakeholders Ignoring your stakeholders for any reason, especially at your level may invite trouble. Follow a proactive approach through a one-on-one meeting to take their opinions and leave no stone for possibilities or potential risks unturned. 7)&nbsp;Don&rsquo;t Be In Hurry to Complete Tasks Don&rsquo;t work on anything just for the sake of completing. Understand the criticality of your role for your business and act in a responsible way. Being too speedy about things could turn out to be a deal breaker. 8)&nbsp;Don&rsquo;t Let Excuses Kill Your Productivity If there&rsquo;s something that is interfering with your productivity, you should take a break or convey it directly to your manager, rather than coming up with excuses and causing an unnecessary delay in business processes. 9)&nbsp;Don&rsquo;t Mix Up Stated Needs With Real Ones After conducting different processes including one-on-one sessions, anonymous surveys, and group discussions, you will get a long list of needs from the employee (or real-time users). Your responsibility is to sort out the real needs from that list through your keen investigation. [Remember: Anything that we think we need is not necessarily something we actually need. There are other solutions around to work upon] 10)&nbsp;Don&rsquo;t Believe in Rhetorical Statements Gone is the time when rhetorical statements were used to cover reports or reflect outcomes. Now, you should have clear and concise statistical data in hand to prove the credibility of the resources, tools, or processes involved in a particular project. 11)&nbsp;Don&rsquo;t Refrain from Quantifying Results Last but not the least, when it comes to showcasing the estimated results in terms of ROI, let the numbers express the whole story to the concerned managers, CEOs, stakeholders. If your report says that customer complaints reduced by 40%, they will be able to make sense out of it.&nbsp; If you are a Business Analyst too, you can also create a checklist accordingly to avoid these fallouts and give your best for every project assigned. Are you ready to be a smart business analytics professional? We provide Certified Business Analysts Professional&nbsp;training, to check out the schedule click here &nbsp;
10 Serious Business Analytics Mistakes You Should Avoid

10 Serious Business Analytics Mistakes You Should Avoid

Priyanka Arora
It&rsquo;s been quite long since the term &lsquo;Business Analytics&rsquo; was coined, but businesses are still unable to deal with it effectively. &ldquo;Business Analytics basically refers to the...
Continue reading

One Simple Hack to do Business Case Writing like a Pro

Whether you are a start-up or well-settled business establishment, there is one common phase you have to go through before starting out any project i.e. Business Case Writing. It is an immensely important step to be taken in the very early stages of a project that highlights all the necessary resources to be involved, their cost and management, backup resources and most importantly the timeline. Also, the expected benefits and overall influence on business make a part of an effective business case. &ldquo;A business case captures the reasoning for initiating a project or task.&rdquo; This is how Wikipedia says it crisp and clear about the business case. It is usually proposed as a well-drafted document, but nowadays, it is often proposed as presentations. An impressive business case is the one that includes both quantifiable and non-quantifiable aspects of a project in absolute terms.&nbsp; Why Writing A Business Case Is Important? A business case holds significance because it helps to evaluate the value of a project and its respective returns for a company in a concise manner. Moreover, it outlines the performance indicators for the entire workforce involved in a particular project. This further helps decision-making bodies to recognize individual potential while pushing their limits to a whole new level with extended responsibilities on the table. With a well-defined business case, it becomes quite easy to have an idea about: &nbsp;Awaiting business opportunities (while some refer them as problems) &nbsp;Positive outcomes&nbsp; &nbsp;Risks or setbacks&nbsp; &nbsp;Total costs to be incurred (including all the investments and appraisals) &nbsp;Turn Around Time &nbsp;Backups or failure-escapes, and &nbsp;The undefined capability of the workforce to deliver expected results. A document so critical obviously needs great precision to work with. It won&rsquo;t be an easy task. And, let&rsquo;s face it, sometimes even experienced professionals fail to do business case writing aptly.&nbsp; This blog will reveal that one simple hack &ndash; which will help you through this significant phase like a pro. The hack is to break down the entire case into seven important questions including: Q1: Why the project worth making an investment? You should gather enough details and information about the project, and present it in simple and easy-to-comprehend language so that every other member of the decision-making committee can understand why you are proposing that project. Q2: What objective will the project serve to the organization? With anything proposed in a business establishment, there is a need to brief the future state that a particular project or step is going to bring. Make sure you define the project objective clearly to avoid any hassles in later phases. Q3: How the project will improve the current situation of your organization? Next, in the queue comes a compelling argument about the benefits of the project. Make your draft more convincing using graphical representations showing the current scenario and the improvements everyone can expect in the near future. Q4: What are the different possibilities to execute the project? Now that everyone is convinced about the outcomes of the project, the next question lies afore you is HOW. You have to give a detailed presentation underlining all the possible options that can be looked upon for successful completion of the project. Q5: What are the parameters to measure the success ratio? Once a project is started, it becomes pivotal to define certain parameters to help measuring the success rate. This helps you to know whether you are moving ahead in right direction or there is a need to switch to some other alternative to reach paramount. Q6: What external resources will be required for project success? It is often a case that your organization may not have adequate resources required for the project execution. Be sure you have briefed all such external resources well in advance so to ensure their availability at the time of need. Q7: How much time will be required and what next it triggers? Last but not the least; you have to come up with a specified range of time for your project. As this helps in distribution of resources and making cost estimations for the additional resources required.&nbsp; Additionally, you should define the next steps once the project is completed. After all, growth is a continuous process. You just cannot stop after setting just one milestone. Keep moving, keep setting new milestones. Once you will be able to answer these seven questions in your with complete consideration, Congratulations! You did your business case writing task well. Here&#39;re some best tips to improve business writing skills &nbsp;
One Simple Hack to do Business Case Writing like a Pro

One Simple Hack to do Business Case Writing like a Pro

Priyanka Arora
Whether you are a start-up or well-settled business establishment, there is one common phase you have to go through before starting out any project i.e. Business Case Writing. It is an immensely im...
Continue reading

5 Solid Reasons To Align Your Business Goals With Content Marketing

Content Marketing is all about serving interests of your prospects through relevant, informative, and crisp pieces of content. The only key to unlock its potential is identifying what your customers actually want. The all new technique of content marketing has completely transformed the way the brands or businesses used to communicate with their prospects. And, social media has quadrupled the power of content for the brands to make a bigger impact in the marketplace. The ratio of relevance is directly proportion to loyalty and trust that brands expect from their existing or future customers. The core advertising messages can no longer survive. In fact, no experienced digital marketer will prefer you the same as compelling the modern generation that you are their kind of weird takes lot of efforts. Now-a-days, it is all about engagement with the prospects &ndash; be it through stories, blogs, articles, reviews, etc. based on the genuine use or conditions of the products or services you are selling.Further, you can promote your products, services, and their relevant information through E-mail marketing helps to promote the business i,e.products and services etc. While there are businesses who are struggling hard to understand the concept of content marketing, here&rsquo;re 5 solid reasons that make content marketing important to survive in modern mobile-possessive generation: It helps bringing together loyal customers as community When you give the relevant information to your prospects&rsquo; concerns, you are giving them a reason to invest time in your brand and become a regular follower. This strengthens their bond with your brand. Every time they have concerns in mind, they have a solution at hand by simply checking in to your website. It offers your brand an identity with authority Once you have a business website, you have an identity. But if that&rsquo;s all you wanted? Will you be able to call yourself a brand if people don&rsquo;t find you trustworthy? Obviously, no! To become worthy of your customers trust, you have to deliver quality not only through product and services, but also through relevant content. The regular practice of delivering quality content will build your authority that will automatically generate a sense of trust and authority among the prospects to make a decision to purchase. It allows you to understand your customer&rsquo;s real concerns When you will start posting content regularly on social media or forums, your customers will get another platform to give their feedback or raise their concerns. More will be the engagement on your content; better will be your understanding towards your customers&rsquo; real needs and issues they are facing. This will eventually help you improve, making your customers feel care and heard. It helps improving your SEO and Digital Marketing efforts Quality content is boon for any SEO or digital marketing strategy. Gone are the days when the content loaded with keywords was enough. Today, it is the trend of quality that rules. You need to address the real concerns and issues of your customers so to sound relevant to the search engines and rank well among your competitors. It makes a value proposition to your brand&nbsp; Prospects of today&rsquo;s mobile generation keep high expectations from the brand they follow or like. They want you to deliver insightful information about the products and services you are selling to them. When they get quality videos, catchy pictures and problem-solving FAQ&rsquo;s, and helpful guides, customers feel it is worth making visit to your website. This way, marketing content adds more value to your brand. Now that you know what wonders can content marketing do for your brand and its popularity, make sure you miss no platform or aspect to connect with your prospects and answer their queries at earliest. It will automatically highlight your brand in the marketplace. Tune into content marketing for better visibility and customer engagement!
5 Solid Reasons To Align Your Business Goals With Content Marketing

5 Solid Reasons To Align Your Business Goals With Content Marketing

Priyanka Arora
Content Marketing is all about serving interests of your prospects through relevant, informative, and crisp pieces of content. The only key to unlock its potential is identifying what your customers a...
Continue reading