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What is data analytics?
Data analytics is the process of transforming raw data into meaningful, meaningful content. You can think of it as a type of business used to solve specific problems and problems. It’s all about finding patterns in your data that can tell you something important about a particular area of your business – for example, how certain user groups are doing or why sales are down at a given time. The type of insight gained from the data depends on the analysis performed.
Data scientists use four main types of analytics:
- Descriptive,
- Diagnostic
- Predictive, and
- Prescriptive
Descriptive analytics at what happened in the past, and diagnostic analytics looks at why. Forecasting and analysis determine what will happen in the future and determine the best course of action based on these forecasts.
What is the use of data analytics?
Data analytics can be used by any organization that collects data, and how it is used depends on the context. Generally speaking, analytical data is used to drive smart business decisions. It helps lower overall operating costs, develop better products and services, and improve processes and operations across the organization.
Data analytics is used in almost every industry, from marketing and advertising to education, healthcare, travel, transportation and logistics, financial business, insurance, advertising and entertainment. Consider the suggestions you get from sites like Netflix and Spotify; it’s all about analysis.
What is the data analytics process like?
The data analysis process can be divided into four steps: identifying the problem, collecting data, cleaning data, and analyzing data.
Identifying the issue The 1st step in the procedure is to set a clear goal. Before delving into the data, you develop ideas to test or specific questions to answer. For example, you may want to investigate why so many customers have yet to receive your email newsletter in the first quarter of this year. Your question or question will tell you about the data you’re analyzing, where you’re extracting it from, and the type of analysis you’re doing.
Gather Information Once a clear goal has been set, the next step is to gather relevant Information.
Cleanse Data Next, you will prepare the data for analysis by removing anything that might prevent the data from being interpreted, such as duplicates, outliers, or missing items. It can be a time-consuming task, but it is an important step.
Data Analytics This is where you start extracting insights from your data. How you analyze data depends on the questions you ask and the type of data you are dealing with, and you can use different methods such as regression analysis, group checks, and time checks (to name a few).
What does a data analyst do?
Some data analyst responsibilities include:
- Engaging with key stakeholders to understand business needs and goals,
- Managing information and design processes
- Interpreting quality data,
- Work with business stakeholders to set performance metrics.
- Various types perform data analysis using specifications and tools. Visualize Information such as graphs and charts. Present findings to stakeholders
- Make recommendations on best practices.