Do you know what is Data Analytics and its purpose
Data Analytics
What is Data Analytics?
Data Analytics is an opportunity to find insights in types of
data and content, to make the business more agile, and to answer questions that
were previously considered beyond reach.
Why, we need to do it?
Every day, we create 2.5 Quintillion (10^18) bytes of data of
which 90% of the data in the world today has been created in the last two years
alone!!
Benefits of this includes creation of new products and
services for customers. For example GE has made a huge investment in new
services for its industrial products using data analytics. Apart from cost
reduction using the data, faster and better decisions can be taken.
Challenges:
Getting data from various sources and in various formats,
data analysis can be a challenge. The ability to import the data from these
sources and analyze them to see the big picture is variably important. The data
can be used to formulate Key Performance Indices (KPI’s).
We can identify relationships, patterns and analogies
involving comprehensive analysis of data by using various techniques like
regression, clustering to name a few.
Does this simply means proliferations of data is an evidence
for an intrusive world? Or the data will play a useful economic model? With an
understanding of how big the data is, harnessing it involves workforce to
support business decision making and economic growth. To enable effective
decision making it is important to have the potential value that big data can
create economic benefits for organizations and sectors.
This article is just to bring awareness about the jargon of Data Analytics and we will take it up to the next of details and understanding in the coming set of articles. Happy Reading friends!!!
Thanks
and Regards,
Amoeba
Technologies Core Team | info@amoebatechno.com www.amoebatechno.com | 24 x 7 Support No: +91-8886516000
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