Businesses use business analytics for capacity planning as an example. Capacity planning enables a company to match its procurement and manufacturing capacity to demand and sales. This includes strategies initiated such as a lead strategy which refers to installing capacity or producing goods based on the demand anticipation. Also, a lag strategy that entails the addition of capacity is included as one of the existing plants cannot meet demands.
Master’s Degree in Business Analytics | University of Cincinnati | University Of Cincinnati
There is always something new in the world of business to help improve companies and their sales. The success of using analytics to help develop a company is encouraging others to join this way of studying data to make decisions that will benefit the profit of the company. The increased use of data to increase sales, revenue and to help make business decisions is a large part of the sports industry. Application of Business Analytics An increasing amount of businesses are exploring this new concept of analytics. More companies are realizing the benefits that come with the use of analytics within the business environment. Like anything else, there are both pros and cons that come with this approach. However, the benefits far outweigh the negatives.