Define 'business analytics'.

Business analytics is primarily focused on the method of using statistical analysis and data mining techniques to aid in decision-making. This involves collecting and analyzing data to uncover insights that can inform business strategies, improve operational efficiency, and enhance overall decision-making processes.

Option B accurately captures this essence by emphasizing the use of statistical methods and data mining as core components of business analytics. These techniques allow businesses to interpret complex data sets, identify patterns, and generate actionable insights. This is crucial for organizations that want to leverage data to create a competitive advantage and optimize their performance.

The other options, while related to business practices, do not encapsulate the comprehensive scope of business analytics. For instance, studying market trends and consumer behavior is important but is more aligned with market research than with the broader methodologies employed in business analytics. Developing software for business operations pertains to IT and software engineering rather than data analytics. Similarly, networking with other businesses for profitability focuses on relationship building, which is a different aspect of business rather than the analytical techniques that drive data-driven decision-making.