Ticket 1 Enterprises (firms) field of activity and its main characteristics

Ticket18
1. Types of business analysis.
Business analysis is used to identify and articulate the need for change in how organizations work, and to facilitate that change. As business analysts, we identify and define the solutions that will maximize the value delivered by an organization to its stakeholders. Business Analytics is the process of using statistical methods, skills, technologies, and practices to analyze historical data and gain new insight to improve strategic decision-making. This subset of data management solutions employs business intelligence and several methodologies such as data mining, statistical analysis, and predictive analytics. 

Types of Business Analytics

1. Descriptive Analytics It analyses historical data to determine the response of a unit over a set of given variables. It tracks key performance indicators (KPIs) for a better understanding of the present state of a business. 

2. Diagnostic Analytics is one of those business analytics types that help understand why things happened in the past. Using drill-downs, data mining, data discovery, and correlations, you can comprehend the driving factors.

3. Predictive Analytics It considers historical data trends for determining the probability of particular future outcomes. It uses several techniques like data mining, machine learning algorithms, and statistical modeling to forecast the likelihood of events.

4. Prescriptive analytics generates recommendations to handle similar future situations relying on past performances. It employs several tools, statistics, and ML algorithms for the available internal data and external data

2. Planning and control of project implementation.
Project implementation (or project execution) is the phase where visions and plans become reality. This is the logical conclusion, after evaluating, deciding, visioning, planning, applying for funds and finding the financial resources of a project. Technical implementation is one part of executing a project.
In order to ensure the success of a project, it is required that it should pass through different project management life cycle phases in a planned way. A project can be executed as per the plan if its progress is monitored carefully. This demands defining control factors that help in keeping the project on the right track and towards progress. So, monitoring and controlling of all necessary inputs and outputs are required and for this, certain standard controlling tools may be used by a project manager.
Common types of implementation control include setting performance standards, measuring actual performance, analyzing the reasons your staff failed to meet specific performance standards, and developing a plan to correct performance deviations.