DATA ANALYTICS
In the world of technology growing at lightning speed data plays an important role in all runs of life. Be it a grocery shop or a multinational company, everywhere data is a game changer and helping everyone grow exponentially. So, the question arises what exactly is data analytics?
Data is any piece of information that is collected and is used for referencing and analyzing. Analytics on the other hand provides definite figures with the help of mathematics, statistics and prognostic models. Together, data and analytics assist in tangible and precise complete story which helps in predicting growth of any business or organization. Analytics has an important stint in market maximization. The process followed helps in extracting raw data and transforming it into useful information which can be utilized in governing and making necessary decisions.
Data analysis mainly
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Since the data is going to be used in decision making then it should be verified that the business would be reaching its goals gradually. Decision of what is to be measured and how it is to be measured should be taken in advance. Various questions in regards to this parameter should be prepared in advance and should have proper answers before the main process of analysis starts.
Identification of Business and changes for growth
Change is the only constant and for a business to grow, necessary changes must be made to improve key metrics. To recognize the aim, goals and key metrics should be the taken care of in order to provide direction to the project and also refrain from analysis of unnecessary data. One such example can be retaining employees of a company based on the trends in the market with respect to technology, salary and various other opportunities. The business can leverage on giving more importance to employee care and work accordingly as per the various factors that we shall analyze.
Data