Hi Funtg123,
First off, a 690/Q49 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. There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/Business Schools generally do not care if an Applicant takes the GMAT more than once, but before you rush in to retest, there are some things to consider. GMAC has publicly stated that the Official Score that you earn on Test Day is within +/- 30 points of actual ability. Your 2 Official Scores show that you essentially performed the same each time (690 +/- a few points). Even though these Scores are years apart, you handle certain aspects of the GMAT consistently well, but you also appear to make certain consistent mistakes.
Before we discuss how you might best continue your studies, 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 do you typically study each week?
2) What study materials have you used so far?
3) On what 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?
6) What Schools are you planning to apply to?
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