What is Data Analytics?
Data analytics (DA) is the process of examining data sets in order to find trends and draw conclusions about the information they contain. Increasingly, data analytics is done with the aid of specialized systems and software. Data analytics technologies and techniques are widely used in commercial industries to enable organizations to make more-informed business decisions. Scientists and researchers also use analytics tools to verify or disprove scientific models, theories, and hypotheses.
Find information about the information.
Look at data long enough and you'll find all sorts of insights, patterns, and relationships, some more obvious than others.
Data analytics is the systematic effort to uncover it all. to find information about the information. The goal of data analytics is to use this insight to help the business owner make an objective decision that will most likely yield the desired outcome.
What does the Data Analyst do?
It all starts with an analyst who must first decide what data is most relevant to the business objective. What data should he or she collect to answer a given business question.
Next, the analyst must prepare it for analysis by eliminating duplicate data and making sure the remaining data is properly formatted so that the analytics software can actually work with it. Once this issue of data quality is addressed, the actual analytics begins.
The analyst starts small, building a predictive model using statistical algorithms and small data samples. The model then runs interactively against a partial set in order to test its accuracy. After each iteration, the analyst reviews the results and adjusts the algorithm until reaching an acceptable accuracy level. Once the analyst feels confident about the algorithms' ability to identify desired outcomes, the predictive model runs against a full data set to answer the business question. Finally, the data analyst decides how to share the results with others. The typical data analyst has a strong background in statistics, data mining, and both relational and nonrelational database design. He or she should be able to write and execute complex queries in SQL and have some experience in R, & Python.
Data analysts also have strong organizational problem-solving skills. It's likely that in addition to conducting mathematical analysis, the data analyst will also have to support data governance and compliance initiatives. Because they work with both technical and non-technical stakeholders, a data analyst communicates information simply and clearly.
In today's information age, making the data work for you is a must to survive a competitive market. With Webscope as your partner, you have the ability to mine and make use of your relevant data and have the advantage to run your business in the most efficient way.
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