One of the most overlooked subjects in business is foreign exchange. With more and more small businesses opening themselves up to overseas markets - or even overseas suppliers and remote workers - exchange rates have a deep impact on businesses. Even the smallest of foreign exchange rate fluctuations can have a large impact on the financials. It’s very common for even the … [Read more...] about Business Analysis – Foreign Exchange
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SWOT Analysis in Healthcare: 4 Easy Steps and 6 Rules
Healthcare is detrimental to a good quality of life in a civilized society. A human being is resilient enough to be persistent through many challenges in life as long as they have health; this is why healthcare is so important in our lives. Healthcare organizations like any other organization also have to be very cautious about their business and its functions. There are a … [Read more...] about SWOT Analysis in Healthcare: 4 Easy Steps and 6 Rules
What is Environmental Analysis? 2 Tools to Help Conduct One
When you think about what makes a business successful, several factors immediately come to mind. It has a lot to do with the resources invested and acquired, the human resources, the relevance of the business deliverables and so much more. However, the environment in which the business operates or exists has a lot of impact as well. The environment be it internal i.e. inside … [Read more...] about What is Environmental Analysis? 2 Tools to Help Conduct One
The Difference between Business Analysis and Business Analytics you Should not Miss
In the business world, the terms Business Analytics and Business Analysis are often used interchangeably. Even though there are some obvious differences between the 2 processes, people tend to equate them. The Key Difference between Business Analysis and Business Analytics The main difference between the 2 processes is that Business Analysis is more related to functions … [Read more...] about The Difference between Business Analysis and Business Analytics you Should not Miss
5 Reasons to Choose a Business Analyst Career
The dynamic and ambitious world we currently live in is experiencing difficult times, which has made different companies start looking for possible solutions. This is where the role of a business analyst comes in. A business analyst helps to guide a business organization in turbulent times, as he analyzes the situation to decipher what has gone wrong. He further comes up … [Read more...] about 5 Reasons to Choose a Business Analyst Career
5 Decision Analysis Tools to Catapult a Business
Business success depends on the decisions made by its leaders and managers. As companies focus on achieving goals, many factors like time and budget come into play. Making mistakes is costly, so businesses need to be cautious when it comes to making decisions. The decision-making process sets out to lead organizations to their desired outcomes. Decisions have to be clear and … [Read more...] about 5 Decision Analysis Tools to Catapult a Business
The 5 Whys As a Practical Tool to Solve Business Problems
If you’re thinking that the 5 Whys mean you have to say why five times, no, not exactly. The 5 Whys in business is a process that you would actually use to help you to find out the real root of a business problem and ways to fix it. Sometimes in business, managers can spend so much time in the boardroom, discussing the potential problem and discussing what might have … [Read more...] about The 5 Whys As a Practical Tool to Solve Business Problems
What Is Macro Environment? 2 New Examples You Can’t Miss
In business analysis, we tend to focus our research on individual markets and industries, without paying attention to the greater, so-called macro environment. But what exactly is the macro environment, and why should you care? The macro environment is the broader business environment across all markets and industries. It takes into account the size and nature of entire … [Read more...] about What Is Macro Environment? 2 New Examples You Can’t Miss
Time Series Analysis: Definition, Benefits, Models
In data analysis, a time series is a collection of data points organized in time. According to some definitions, the data points in a time series should be equally spaced, although this is not always the case. The varying definitions for a time series can be illustrated with three examples: A dataset compares the performance of athletes to their height. Since neither the … [Read more...] about Time Series Analysis: Definition, Benefits, Models
Predictive Analysis: Definition, Tools, and Examples
Data analysis — the process of collecting, processing, and drawing insights from data — comes in many flavors. Predictive analysis is just one type of data analysis, but it's highly valued for the benefits it provides in making business decisions. In this article, we'll look at the basics of predictive analysis, including its definition, applications, models, tools, and … [Read more...] about Predictive Analysis: Definition, Tools, and Examples