Practical analysis

is a mathematical process aimed at simplifying the correlations between the various variables involved in the analysis to the common factors that describe the relationship between these variables and their interpretation. Factor analysis is a statistical approach for analyzing multiple data that have been linked to different degrees of summarized correlation in the form of independent classifications based on qualitative bases of classification.

data analysis

Data analysis is defined as the process of evaluating data using analytical and logical thinking to study each component of research data.

I'm going to risk starting an argument by suggesting that in most cases there is no real difference between Business Analytics and Data Analytics with respect to the tools used. The differences are more about the types of data and the purpose for which the data are gathered and analysed. I see Data Mining as a family of tools used for these Analytics.

I would add that business managers more often prefer results today that are "good enough" over perfect results next week.

Also, decision-makers, who are practising managers, sales people, accountants, etc. seem to be rarely interested in the mathematical/statistical details of the answers that they receive. But they do want to trust the results, so model explainability is important.

Hi,

putting together big data is the keyword behind - DM , DA, BA. Ultimate aim of all is to take decision based on the cumulated data. Multiple tasks line up in all the process and result in gaining knowledge that will be applied for optimisation of the organization growth . Several machine learning algorithms and in this nature join hands to give evolutionary algorithm.

Hey Satish Narula

Here I am sharing with you a brief explanation of the differences between the three terminologies.

I hope this addresses your concern.