The function of business analytics is to process data to derive meaningful insights for organizations Yet in practice, organizations are spending far too long these days in trying to capture the data rather than making it work. Five major approaches have been approached using which companies can better track data to help their employees add value. First of all, data must be used to confirm decisions rather than the latter being developed post analysis of the former. The design of such tools or platforms which track data must be done in accordance with the people expected to use the same. This includes frontline staff such as sales representatives, financial advisers, retail category managers and wealth managers. The purpose of the data must be to empower the staff in decision making, not to eliminate them through automation. This analytical capacity being developed must be done keeping in mind the entire organization and not any one department or branch. Over analysis leads to paralysis thus extracting key business intelligencemust be the aim not frivolous metrics. Thus distractions must be removed but instead focus must be on metrics that really matter to the organization. Source:

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