28/07/2024
THE CONCEPT OF DATA ANALYTICS:
BEGINNERS GUIDE
What is data analytics?
Almost all small, medium and large scale businesses and companies are collecting loads of data everyday from different sources at different times, but in its raw form.
This data doesn’t really mean anything at that stage. This is where data analytics comes in.
Data analytics is therefore the process of analyzing raw data in order to draw out useful, meaningful, actionable insights, which are then used to make smart decisions that drive their businesses.
A data analyst will extract raw data, organize and analyze it, transforming it from incomprehensible numbers into coherent, intelligible information.
Having interpreted the data, using any data management tool like Microsoft Excel, the data analysts will then pass on their findings in the form of suggestions or recommendations about what the company’s next steps should be and the direction the business should focus.
You can think of data analytics as a form of business intelligence, used to solve specific problems and challenges within an organization.
It’s all about finding patterns in a dataset which can tell you something useful and relevant about a particular area of the business—how certain customer groups behave, for example, or how employees engage with a particular tool.
Data analytics helps you to make sense of the past and to predict future trends and behaviors; rather than basing your decisions and strategies on guesswork, you’re making informed choices based on what the data is telling you.
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