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Data analytics is already changing how we do business, and experts believe this trend will accelerate. By 2022, 71% of global enterprises predict a rapid increase in analytics.
That means you should prepare now for the analytics revolution to come. A recent study found that businesses around the planet are using data to boost process and cost efficiency, drive strategy and change, and monitor and improve financial performance.
The three primary methods of business analytics are descriptive, predictive, and prescriptive.
- Descriptive analytics uses historical data to identify trends and patterns
- Predictive analytics harnesses the power of statistics to forecast outcomes
- Prescriptive analytics tests techniques to determine which outcome will yield the best results
The benefits of using analytics include more informed decision making, greater revenue, and improved operational efficiency. And that means experts in the field are a hot commodity. In fact, business analysis made the most significant jump in a recent LinkedIn survey of the most in-demand skills in 2020. And it makes sense, as companies around the globe are seeing the benefits of investing in data.
Better Decision Making
Uber upgraded its Customer Obsession Ticket Assistant (COTA) tool by using prescriptive analytics through A/B testing. They determined this upgrade led to faster service and higher customer satisfaction. Ultimately, the company saved millions of dollars from the move.
Revenue Increase
McKinsey research found that Big Data investments lead to a 6% yearly increase in profits. Further research by BARC found that investments in data analysis led to an 8% increase in profits and 10% reduction in costs.
Operational Efficiency
A report by KPMG found that businesses are using predictive analysis to anticipate operational issues before they become serious problems. This helps management identify problems and work toward solving them before these problems become prohibitively expensive and time consuming.
One of the most powerful business analysis tools just so happens to be the most well-known spreadsheet program around. You know the one. The 2020 Master Microsoft Excel & Power BI Certification Bundle is designed to teach you the fundamentals of analytics regardless of what career path you are on.
You’ll start with a PivotTables Bootcamp to dive into this powerful tool. A 10-hour course teaches you how to slice, dice, and filter data with ease. You’ll also be able to quickly group values, enable multiple filters, and define custom sort lists. As more companies require data science, this is an invaluable master-level skillset to have in your repertoire.
Excel is packed with productivity tools that are imperative to know well. A 20-lesson course reveals the 50 top Excel formulas in just 50 minutes. In less than an hour, you’ll be able to sort, calculate, format, group, and visualize data like a pro. An accompanying course shows you the best 50 keyboard shortcuts in just 20 minutes.
Of course, Excel is a visualization program as well, so it’s time to ditch the boring sheets. After one course, you’ll be able to design beautiful pie charts, line graphs, sparklines, and custom templates. Your data will pop off the screen during presentations that people will actually want to attend.
Power BI is a powerful self-service business intelligence platform. After this 116-lesson course, you’ll be able to connect to hundreds of data sources, build complex relational models, and design stunning, interactive dashboards from scratch.
Additionally, formatting is included. You’ll learn how to fill cells and choose the right colors while leveling up your style game. Freeze panes, hide text, and create advanced formats like a champ.
The 2020 Master Microsoft Excel & Power BI Certification Bundle is on sale now for just $34.99, a 97% discount from the original price. That’s a low cost of entry for the future of your career.
Price subject to change. Software not included.
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