Hi PDantuluri,
First off, a 690/Q48 is a fantastic Score, so it could be enough to get you into your first-choice School. As such, a retest might not be necessary. Depending on the Schools that you plan to apply to, you would likely find it beneficial to speak with an Admissions Expert about your overall profile and plans. Those Experts should be able to answer your Admissions questions and help define the specific areas of your profile that could use some improvement. There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/With a 690, it's likely that you have the knowledge to score 700 right now. That having been said, if you got a bit 'lucky' when you took your Official GMAT - and your actual 'ability level' is closer to the mid-600s - then you will need more than additional practice CATs/mocks to hit your Score Goal. A CAT is really a 'measuring device' - when used correctly, it will give you a realistic score and help define your strengths and weaknesses, but it will NOT help you to fix any of those weaknesses. To raise your scores, you have to learn the necessary Tactics and put in the proper practice and repetitions. The CAT will show you whether your studies are helping you to improve or not.
Before I can offer you any additional advice for your studies, it would help if you could provide a bit more information on how you've been studying and your goals:
1) How long have you studied? How many hours do you typically study each week?
2) What study materials have you used so far? What “brands” of CATs/mocks have you used?
3) On what dates (or approximate dates) did you take EACH of your CATs/mocks and how did you score on EACH (including the Quant and Verbal Scaled Scores for EACH)?
4) When are you planning to apply to Business School and what Schools are you planning to apply to?
5) Why do you think you "need" a 700? Is that Score part of a scholarship requirement? Did you receive a conditional offer from a Program that's based on you scoring in the 700s?
If you took your Official GMAT at a Test Center, then you might also choose to purchase the Enhanced Score Report. While the ESR doesn’t provide a lot of information, there are usually a few data points that we can use to define what went wrong on Test Day (and what you should work on to score higher). If you purchase the ESR, then I'll be happy to analyze it for you.
GMAT assassins aren't born, they're made,
Rich