What Is Data Analytics?
Data analytics is the science of analyzing raw data to make conclusions about that information. Many of the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption.
Data analytics is the science of analyzing raw data to make conclusions about that information.
Data analytics help a business optimize its performance, perform more efficiently, maximize profit, or make more strategically-guided decisions.
The techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption.
Data analytics relies on a variety of software tools ranging from spreadsheets, data visualization, and reporting tools, data mining programs, or open-source languages for the greatest data manipulation.
Descriptive Analytics
This describes what has happened over a given period of time. Have the number of views gone up? Are sales stronger this month than last?
Diagnostic Analytics
This focuses more on why something happened. This involves more diverse data inputs and a bit of hypothesizing. Did the weather affect beer sales? Did that latest marketing campaign impact sales?
Predictive Analytics
This moves to what is likely going to happen in the near term. What happened to sales the last time we had a hot summer? How many weather models predict a hot summer this year?
Prescriptive Analytics
This suggests a course of action. If the likelihood of a hot summer is measured as an average of these five weather models is above 58%, we should add an evening shift to the brewery and rent an additional tank to increase output.