Why Python is Perfect for Business Analytics

python for business analytics

In the modern world, technology is everything and everywhere. The ability to interpret and analyze data is more important than ever before for businesses of all sizes. Whether you run a small local business or a massive national corporation, computer programming will be a major part of how you conduct your business. That is where python comes into play. In this article, we will discuss why you should consider using python for business analytics. But first, we should make sure we understand what python is.

What is Python?

Python is a programming language. Originally developed during the 1980’, the programming language gets its name from the Monty Python comedy group. Despite being developed approximately 40 years ago, Python has only recently become as popular as it is. As things stand, Python is the most popular programming language.

The reason for Python’s success is its wide range of utility and simplicity. Python classifies as a general-purpose language, meaning it has a wide range of uses. These uses include but are not limited to; website building, interface design, interpreting and analyzing data, automating tasks, and developing software. Furthermore, as far as programming languages go, Python is very simple. Writing Python code is a lot like writing in the English language. As such, Python has become the most widely used programming language.

Now, let’s examine why you should consider using Python for business analytics:

What is Business Analytics?

Before diving further into Python for business analytics, let’s first ensure we understand what business analytics is. Business analytics is the concept of using measurable data to guide decision-making. Companies generate vast amounts of statistics and information as they conduct business, and business analytics involves using this information to predict and adjust current strategies. These analytics can increase profit margins, boost efficiency, monitor short and long-term performance, and more. As we advance further in the digital era, companies are placing more and more emphasis on using analytics to drive decision-making.

Now, let’s take a look at why python is perfect for business analytics:

Python for Business Analytics

In the past, many businesses relied on programs like Microsoft Excel for conducting their business analytics. However, despite the many great things Excel does, it has limitations. This is where Python comes into play. The things you can do with Python are nearly limitless. Programmers and developers can create code that is hyper-specific to what they need at that current moment. Some of the current uses for Python in business analytics include; improving machine learning, data analysis, data mining, website development, and automating routine tasks.

Advantages of Using Python in Your Business

  • Simplicity – As aforementioned, Python is by far the easiest programming language to learn. This means that smaller businesses that can’t afford to hire a data analyst or programmer can quickly learn how to use Python. Comparatively, with other programming languages, Python’s syntax is very easy to learn in a short time.
  • Quick Implementation – Python has a feature known as “just-in-time compilation”. This feature allows for programs written in Python to be integrated and implemented much more quickly than other programming languages.
  • Scalable – Another massive advantage of Python language is that it is scalable. This means that Python programming can be adjusted and scaled up or down as needed. This is especially helpful for growing businesses that may need to adjust their software and programming as they go.
  • Library Support – Python features a massive library of helpful modules. These modules are bundles of code that can be used over and over in a number of different programs. This makes life for programmers much easier as they don’t have to constantly write and rewrite the same program code repeatedly to accomplish the same task.
  • Massive Supporting Community – Due to the huge popularity of Python, a massive support community has formed. It is extremely easy to access a support system when you run into problems or questions in Python. And programmers know that when using a programming language issues will always arise, so having a reliable pool for solutions is a huge benefit. Furthermore, there is a wide array of courses available online that can teach Python, making it an extremely accessible programming language.

Conclusion

Python is an extremely versatile and relatively simple programming language. As companies dive deeper into business analytics, Python has grown more and more popular worldwide. Python is easy to learn, easily scalable, fast to implement, and has a wide range of uses. Python has a massive support library and massive support community that makes problem-solving much easier than other programming languages. If your company is looking to use business analytics to guide decision making then we highly suggest you consider using Python.

Hopefully, you found this article helpful in showing why Python is perfect for business analytics.

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