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Business analysis is a professional discipline [1] focused on identifying business needs and determining solutions to business problems. [2] Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development.
[1] A business analyst's job description tends to include "creating detailed business analysis, outlining problems, opportunities and solutions for a business, budgeting and forecasting, planning and monitoring, variance and analysis, pricing, reporting, and defining business requirements and reporting back to stakeholders". [3]
In other words, business intelligence focusses on description, while business analytics focusses on prediction and prescription. [1] Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, [2] and fact-based management to drive decision making.
The MSBA was a response to the increasing need of complex data analysis beyond traditional use of spreadsheets such as Microsoft Excel. Since 2001, the increasing volume (amount of data), velocity (speed of data in and out), and variety (range of data types and sources) has created a vacuum for talent. [ 2 ]
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In business, a cost analyst is a professional responsible for analyzing a company's costs, or the use of available resources, and reports such analysis to management for decision-making and control. Additional to cost analysis generally, specific work includes whole-life cost analysis and cost–volume–profit analysis .
As Johnson & Johnson declared in a filing with the Securities and Exchange Commission three weeks before the analysts’ conference, “In the Company’s opinion … the ultimate outcome of legal proceedings, net of liabilities accrued in the Company’s balance sheet, is not expected to have a material adverse effect on the Company’s ...
Usually, financial analysts study a specific industry—called "sector specialists"—assessing current trends in business practices, products, and industry competition. [7] Among the industries with the most analyst coverage are biotechnology, financial services, energy, mining and resources, and computer hardware, software and services ...