Hi Hiral777,
First off, a 700/Q48 is an outstanding Score, so you can comfortably apply to any Business Schools that interest you. As such, a retest is probably not 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 (and the more time that you have to act on that advice, the better). There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/There's certainly no harm in continuing to study and retesting, but before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) How long have you studied? How many hours did 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)?
Goals:
4) What is your overall goal score?
5) When are you planning to apply to Business School and what Schools are you planning to apply to?
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). Since you purchased the ESR, then I'll be happy to analyze it for you (and if you would rather not publicly post it, then you can feel free to PM or email it directly to me).
GMAT assassins aren't born, they're made,
Rich
Contact Rich at: Rich.C@empowergmat.com