Study information to help advise strategic decision making.
Since the first barter of chicken eggs for lamb’s wool, Business Owners have tried to find ways to get a leg up on the competition. Cheaper supplies, higher quality, and accessibility tip the scales between a company that’s only able to pay the bills each month and one that thrives. Business Analysts evaluate all levels of business, scrutinizing costs, employees, and policies that could be affecting the bottom line. The Director of Business Analytics is the Supervisor of the entire Analyst division.
That means as a Director of Business Analytics, you have Manager duties. You participate in the hiring, firing, and evaluation of employees. You also set goals for your team, hand out projects, and scrutinize the results once they’re on your desk.
Depending on the business, your job as Director of Business Analytics might have you analyzing the marketing efforts of the competition, crunching numbers regarding suppliers’ fees, or considering the employee turnover within a sector of the business.
Your goal is to improve business functions. That might mean streamlining production equipment, reorganizing employee hierarchy, or making changes to the company’s return policy. In addition, you use the statistical analysis of customer behavior, market trends, and risk management to make decisions about acceptable interest rates, the role of inflation, the cost of employee turnover and benefits packages, and the effect of regulatory changes. This bounty of information allows you to make predictions that can improve profitability and lower risk for the company.