Business AnalyticsDescriptive AnalyticsPredictive AnalyticsPrescriptive Analytics
Fordham UniversityCity University of New York
We examine the state-of-the-art of the business analytics field by identifying and describing the four types of analytics and the three pillars of modeling. Further, we offer a framework of the interplay between the types of analytics and those pillars of modeling. The article describes the architectural framework and outlines an analytics methodology life cycle. Additionally, key contemporary design issues and challenges are highlighted. In this paper, we offer researchers and practitioners a contemporary overview of business analytics. As business analytics has emerged as a distinct discipline with the key objective to gain insight to make informed decisions, this state-of-the art survey sheds light on recent developments in the business analytics discipline.
Wullianallur RaghupathiViju Raghupathi