BUSINESS ANALYTICS: AN EXPLANATORY REPORT ON THE EVOLUTION OF BUSINESS INTELLIGENT AS AN ADVANTAGE IN THE DECISION-MAKING PROCESS

Abstract

Much has been said about the use of data to support the decision-making process, this present article aims to explain what are the phases and premises that an organization must observe since the classic Business Intelligence based on facts occurred in the past or Business Intelligence (BI ) to the most advanced features of Business Analytics (BA) or Business Analysis that allows the creation and analysis of future scenarios with the purpose of anticipating events, improving the decision-making process and therefore enabling more effective management. It aims to identify how companies can make the most of the data so that the leaders of organizations can use it effectively for decision making, evolving from BI to BA with a focus on decision making. BA becomes essential for the data-based decision-making process to mitigate the “assumption” factor and directly impact the organization's performance. What are the steps and premises necessary to evolve the BI that uses descriptive and diagnostic analysis for BA through predictive, prescriptive, and cognitive analysis? Exploratory, bibliographic, and documentary research will be based on models of management and governance of business organizations. Demonstrate how organizations can evolve to a level that allows them to monitor, analyze trends and predictions directly impacting the decision-making process of organizations. The present work aims to offer a path for the evolution of the decision-making process of organizations based on data and mitigating the assumption in the decision-making process.