Many students and even seasoned professionals think that business analytics is a new & trending field which has only just arrived on the scene. Nothing could be farther from the truth. It is common knowledge that big businesses have existed through the ages. In medieval times, kings needed analysts to study how their treasury worked and what steps would improve the financial stability of a kingdom.
Business analytics is not a new field. It is an old tradition and has existed ever since people have found the need to enhance profits and grow businesses.
The Long History of Business Analytics
Ever since money and currency have been the standard evaluator of life quality, people have sought to make more money. This means that businesses have existed for a long time with the sole aim of turning a profit.
As the size of businesses grows, keeping track of expenses and profits has grown difficult. This meant that the importance of business analytics grew as the size of business grew.
From old bankers to oil barons and even royal counsels, everyone hired business analysts to bring a data-driven approach to their business decisions. Even in the old days, people valued decisions based on rock solid numbers and not mere instinct.
The Future of Business Analytics
The future of business analytics will be defined by how well marketers understand big data and AI. Both these technologies will revolutionize analytics and force professionals to think beyond their pay grade. Only by upgrading their skills and adapting to these emerging trends can analysts survive the arrival of these new technologies. Thus, business analytics has a rich past and promises to have a big future as well.
In Conclusion
Many people tend to make the mistake of viewing business analytics as a new trending field which has emerged only recently. The fact of the matter is that business analytics has long been a part of business development. Ever since humans had figured out the art of running a business, they also understood how the same businesses could be improved to generate greater profits. If you feel you have a future in this long established field, consider joining the best business analytics course in Delhi offered at Kapil Heera Academy.
About the Author – Rishi Sachdeva is a well-known blogging personality best known for his writings on technology and business development. His blog post have been repurposed and republished by several top online publications in the business world.