Business analytics for companies

Make data-based decisions & maximize profits

In the age of big data, decision-making sometimes resembles the famous search for a needle in a haystack. Under these conditions, the use of business analytics is considered a promising means of making data-driven, profitable decisions for the company - which is why we have dedicated this page to the topic in detail. Find out more here:

  • In which industries and areas of activity the use of business analytics makes sense
  • Which business analytics pitfalls you should be aware of (and how to overcome them with flying colors)
  • How your company can best benefit from the use of business analytics

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Business Analytics

What is business analytics?

Almost every company generates huge amounts of data every hour. Information that companies can benefit from, for example to reduce costs or optimize processes.

By definition, business analytics can help you use this information to find out what is going well and what can be improved - in order to make informed, data-driven decisions.

The aim is to identify trends and patterns and proactively drive strategic business planning.

For many companies, business analytics in conjunction with data science is already considered an indispensable tool for gaining a competitive advantage in the fast-moving business world.

However, most companies are still leaving a great deal of potential untapped because they are either not yet working with business analytics at all or only superficially.

The possible applications of business analytics are quite diverse and range from controlling and process optimization in production to the optimization of marketing campaigns.

The use of modern BI tools, databases and statistical software is essential.

Business analytics software

What business analytics methods are there?

The business analytics process consists of several sub-areas:

  • Descriptive analytics: Describes what has happened. Typical examples are sales reports, customer behavior analyses and dashboards with current KPI data.
  • Diagnostic analytics: Analyzes why something happened. Examples include root cause analyses for declining sales, segmentation of customers who have churned or correlations between product sales and advertising measures.
  • Predictive analytics: Predicts what is likely to happen. Typical examples are sales forecasts, risk analyses for lending or the prediction of customer churn - where artificial intelligence can play a key role.
  • Prescriptive analytics: Gives recommendations on what should be done. Typical examples include the optimization of pricing strategies, recommendations for inventory management and workforce planning in human resources management. The use of AI is also recommended here.

Where can I use business analytics?

There is hardly an industry in which you cannot benefit from business analytics - provided you approach the topic with the necessary depth of detail. Here are some inspirational examples to illustrate the areas in which business analytics can create real added value:

  • Marketing (e.g. target group analysis, campaign optimization, analysis of customer behavior on the website, personalization of offers)
  • Finance (e.g. risk management, cost analysis, sales forecast)
  • Supply chain management (e.g. inventory management, supply chain optimization, demand forecasting, supplier evaluation)
  • Human resources (e.g. evaluation of employee turnover, performance evaluation, employee satisfaction analysis)
  • Product development (e.g. market analysis, product performance analysis, product life cycle analysis)
  • Customer service: (e.g. analysis of customer satisfaction, optimization of service processes, churn analysis)

When does the use of
Business Data Analytics make sense?

The absolute basic prerequisite for the use of business analytics is that data is available for analysis. In plain language: If no or too little data is collected, even the most modern technology cannot perform an analysis.


  • When complex decisions have to be made: Especially in large companies with complex structures, filtered information can be a guide to profitable business decisions. If this applies to your company, you can only benefit from the introduction of business analytics.
  • If your success depends on meaningful predictions: Whether forecasting, risk management or procurement, all three of these business areas have one thing in common: the more precisely I can predict possible future scenarios, the greater the benefit for the company. An intelligent business analytics system can help you as a business analyst to take a meaningful look into the future - in a moderate amount of time.
  • When process optimization is the goal: Only those who have an overview of their data are able to identify weak points, bottlenecks and waste. Business analytics technology shows you the way to lean, efficient processes that conserve resources and keep value creation high.
  • If competitive advantages are to be achieved: In many companies, decisions are still made based on gut instinct. The targeted use of data business analytics gives you direct access to hidden potential in your company - the key to outperforming the competition.
  • When targeted cost management is required: If you want to reduce costs in the long term and use your resources more efficiently, the introduction of business analytics can become your most important tool, because: In this way, you can reveal cost guzzlers that would have remained hidden without in-depth evaluation.

Business analytics vs. business intelligence
vs. data analytics

Although the terms "business intelligence" (BI), "business analytics" (BA) and "data analytics" (DA) are often used interchangeably, there are clear differences in their meaning and application.

Business Intelligence (BI) concentrates on the collection, processing and presentation of historical data to support decision-making. The focus of BI is on descriptive and diagnostic analysis that answers questions such as "What happened?" and "Why did it happen?". A typical example of BI are dashboards that visualize current KPI data and comprehensive reporting systems that allow decision makers to act on past data. Business intelligence aims to provide valuable insights into your company's past, creating a basis for data-driven decisions.

Business analytics (BA) goes one step further than BI in that it not only looks at past data, but also attempts to predict future events and make corresponding recommendations for action. BA encompasses descriptive, diagnostic, predictive and prescriptive analyses that go beyond pure data analysis and answer questions such as "What will happen?" and "What should be done?". Application examples include sales forecasting and the optimization of business processes, where BA helps companies to strategically align themselves with the future and secure competitive advantages.

Data analytics (DA) is an overarching term that refers to the processing and analysis of data in a wide variety of contexts. While BI and BA are specific applications of data analytics, data analytics refers to any form of data analysis, regardless of context. It includes both simple and complex analyses that are used in different areas such as science, marketing or the processing of big data. It is about recognizing patterns, correlations and deriving insights that can be used in a wide variety of scenarios.

The advantages of business analytics and Intelligence

  • Informed decision-making: Decisions are based on data rather than intuition, leading to greater accuracy and reliability.
  • Opportunities for process optimization: Identify inefficiencies and bottlenecks to improve workflows and resource utilization.
  • New ways to save costs: Reduce unnecessary expenses and optimize your budgets and investments.
  • Create competitive advantages: Recognize market trends earlier and identify promising opportunities to adapt your strategy before your competitors.
  • Better customer understanding: Gain deeper insights into your customers' behavior. In this way, you can optimize your sales strategy and improve customer satisfaction.
  • Proactive risk prevention: Identify potential risks earlier and initiate proactive measures to minimize risks promptly.
  • Increase profitability: Make the right decisions for your company that ultimately lead to cost reductions, sales increases and profit maximization.

Business analytics - common mistakes,
that you should avoid

  • Poor data quality: Incomplete, outdated or incorrect data leads to inaccurate analyses and incorrect decisions. It is better to implement strict data cleansing processes and regular data checks before you start with business analytics.
  • Unclear objectives: Vaguely defined objectives or KPIs can lead to inefficient use of resources and a lack of focus in the analyses. You should therefore define in advance what you specifically want to achieve through the use of business analytics. You should stick to the SMART formula, according to which goals should be specific, measurable, achievable, relevant and time-bound.
  • Excessive data complexity: Many companies make the mistake of wanting too much at the beginning. As a result, excessive amounts of data flow into the analysis and you get bogged down. It is better to focus on the most important data for you and your goals at the beginning and thus simplify the data structure.
  • Insufficient data integration: In practice, we often observe that not all data from different sources is integrated, which leads to fragmented analyses. Use reliable data integration tools and platforms to create a uniform database.
  • Incorrect interpretation of data: Misinterpretation of correlations or statistical results can lead to wrong decisions. Targeted and regular training for your teams in business analytics skills, data interpretation and the application of statistical methods can help.
  • Ignoring the results of analyses: Unfortunately, we see time and time again that insights gained from analyses are not implemented, leading to missed opportunities. Make sure that the necessary resources and skills are available within your teams to implement optimization measures and work with clear, comprehensible action plans.

5 recommendations you should follow to get started successfully with business analytics

  • Set clear goals: By definition, the success of business analytics depends on the objectives. So determine in advance what you want to achieve with your business analytics, which areas have priority and which topics should be neglected for the time being.
  • Get an overview of the available data and its quality: Check the quality of your data and make sure that it is sufficient for your analyses.
  • Prepare your teams: Business analytics does not work without your teams. You should therefore prepare your teams promptly about your plans and get your employees on board for the introduction.
  • Evaluate possible business analytics tools and strategies: Weigh up which tools, processes and strategies are already available in your company. We have found that developing customized visual business analytics software is the right decision in many cases, as such a solution brings together the various data sources and interfaces, enables complex analyses at the touch of a button and can be easily connected to external tools such as SAP.
  • Get support from professionals: The introduction of business analytics, including software, is a complex process that requires a great deal of methodological, technological and strategic expertise. The best thing to do is to join forces with an experienced team of experts like Partake. If you wish, we can support you from the conception and technical development through to the implementation of your new business analytics solution.

Business analytics: the data-driven path to a successful future

Business analytics can be the key element of a data-driven success strategy for your company - provided the data quality is right and you follow a clear objective.

Are you thinking about introducing business analytics, but are unsure whether your company is ready for this step?

Arrange your free consultation now and we will explain how you too can soon benefit from the advantages of business analytics.

Arrange a meeting

Select the desired date and arrange a non-binding and free initial consultation with Dieter Höfer (Partner & Sales Director). We will be happy to answer your questions and discuss solutions for your individual requirements.