Business Analytics Foundation

The basics of business analytics:
- What do we mean by business analytics?
- Business analytics vs. requirements engineering
- Scope & core competencies of business analytics
- Business analytics and project methodology - phase model vs. agile

Basics of requirements engineering:
- Methods & techniques for eliciting the relevant requirements sources
- Stakeholder management in requirements engineering
- Methods & techniques for the elicitation, documentation & validation of requirements
- Methods and tools for requirements management

Solution options & solution validation:
- Development of solution options
- Methods & techniques for solution evaluation
- Methods & techniques for solution validation

• You understand the basic principles and scope of business analytics and requirements engineering.
• You are able to identify and apply the appropriate project methodologies for business analytics, including the distinction between phase models and agile approaches.
• You are proficient in methods and techniques for developing, documenting and validating relevant requirements as part of requirements engineering.
• You understand how stakeholder management works in the context of requirements engineering.
• You are familiar with the tools and methods of requirements management and can use them effectively.
• You are able to develop, evaluate and validate solution options in order to achieve the best results for the company.

• (Junior) Business Analysts

• (Junior) Requirements Engineers

• Project managers

• Product Owner

• Scrum Master

• Anyone who is considering a career in business analytics and would like to gain an initial overview of the field.

Cody Baldwin's video gives you an initial overview of the topic of business analytics.

Here are 5 more exciting facts about business analytics:

1. Explosive data growth: The amount of data generated worldwide is growing exponentially. It is estimated that 463 exabytes of data will be generated every day by 2025. Business analytics plays a key role in extracting valuable information from this enormous amount of data and making it usable.
2. Predictive accuracy: With the help of advanced business analytics, companies can make predictions with impressive accuracy. For example, retailers use predictive analytics to forecast future buying patterns, leading to inventory optimization and an improved customer experience.
3. Artificial intelligence and machine learning: The use of AI and machine learning in business analytics makes it possible to recognize patterns and trends in data that are too complex for the human mind. This leads to deeper insights and enables innovative solutions to old problems.
4. Real-time analyses: By collecting data in real time with the help of business analytics, companies can react immediately to changes. This enables dynamic adaptation of strategies and processes to secure competitive advantages.
5. Personalization on a new level: Business analytics enables the personalization of products and services to an extent that was previously not possible. Companies can understand individual customer needs and offer customized experiences that increase customer satisfaction and loyalty.

Interested in completing further training, e.g. in the area of ITIL? Take a look at our ITIL training page!