The paper "The Business Analytics Team Three Most Critical Skills" is an excellent example of an essay on business. Business analytics is one of the key areas requiring specialized knowledge in order to meaningfully extract the data and manipulate it according to the organizational requirements. The requirements to focus the decisions on the basis of the data rather than using the gut feelings, therefore, require that the organizations must develop business analytics teams in order to achieve better decision making. However, in order to successfully build a business analytics team, it is important that the business analytics teams must possess three important skills.
This paper will, therefore, discuss these three criteria to outline as to how the business analytics teams can perform better. A successful business analytics team requires possessing at least three important skills in order to become successful besides fulfilling the organizational objectives. These skills are: One of the basic skills required for a successful business analytics team is to understand and use information technology. Since most of the business analytics is dependent upon the use of complex analytics software, therefore, it is critical that the team must develop the skills of understanding the technology.
(Emblemsvå g, 2005) The understanding and use of technology also need to be based upon the use of tools and techniques to pull the data and select the right analysis tools to perform business analytics. For example, there are different software modules such as SAS which is used for the purpose of performing analytics. A comprehensive understanding of how to program through SAS, therefore, is of critical importance for a business analytics team. The ability to play with the data and generate the results is one of the key requirements for a successful business analytics teams.
The need to have good statistics is therefore important in order to build correct and valid models besides cross-checking and verifying the validity and strengths of the results. (Ranjan & Bhatnagar, 2011) This is also critical due to the fact that statistics are required to effectively develop predictive models in order to visualize and forecast different scenarios which can effectively have an impact on the organization and its performance. To successfully transform the organizational objectives into credible business analytics, it is critical that the analytics must have correct business acumen.
In order to set goals as well as to better understand the business and operating environment of a firm, business analytics team, therefore, need to develop an understanding of how and why an organization can utilize the information and intelligence generated for its benefit. (Ravi S. Sharma & Djiaw, 2011) Since business analytics is used for different purposes such as reducing costs, achieving solutions as well as improve efficiency, it is therefore critical that the business analytics team must have the ability to understand the business needs and requirements of the organization.
This, however, could only be achieved when business analytics teams develop the skill of gaining business knowledge. The skills described and discussed above are considered as essential as the non-achievement of these skills can put the team on the wrong track and the overall probability of committing mistakes may be higher.