Today’s enterprises capture a lot more information about their customers, employees, budgets, spends, market and competition. There is data from the point of sell (like order size, shipment volume, price, revenue, margin details etc.), before sell data (e.g. sales pipeline line, marketing spend across channels etc.) and after the sell data (e.g. customer service information, product usage patterns etc.) All business functions like sales, marketing, pricing, supply chain, finance, risk management, information technology, human resources, etc. have a lot more access to various forms of structured and unstructured data available inside the enterprise and from sources outside.
As per Wikipedia “A simple definition of analytics is the science of analysis… Business managers may choose to make decisions based on past experiences or rules of thumb, or there might be other qualitative aspects to decision making”.