Measuring Outcomes of Business Analytics: A Challenge
Author Name : Priyanka Wagh, Kalyani Sahastrabuddhe, Saurabh Deshmukh
Business analytics uses statistical techniques like regression, classification, data mining, NLP-text mining (Neuro-Linguistic Programming), etc. to elucidate patterns in data and come up with data-driven decisions to gain insight into the company's performance. The methodological challenges while measuring outcomes range from availability and access to quality data; incorporating moderating variables of interest in the business models and conducting longitudinal studies instead of cross-sectional studies to elicit better solutions in the organizational values.
Keywords: Business Analytics (BA); Outcomes; Decision making