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Business Analytics (BA) and related fields such as Business Intelligence, Big Data, and Data Mining have emerged as vital tools for business growth in the 21st century. According to Gartner, a leading global research firm, Business Analytics was expected to create around 4.4 million new jobs globally by 2015. At its core, Business Analytics involves transforming data into actionable insights through the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management for informed decision-making.
The financial sector is one of the key adopters of Business Analytics. Banks, insurance companies, credit rating agencies, and research institutions widely use predictive models for credit risk assessment, investment analysis, fraud detection, and cross-sell/up-sell opportunities.
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