Data Analytics is about understanding your data and using that knowledge to drive actions. It reveals the trends and outliers within the data which might be otherwise difficult to note. It is a scientific way to convert raw data into information that helps guide difficult decisions.
Analysis of data is a process of inspecting, cleansing, transforming and modeling data with the goal of discovering useful information, suggesting conclusions and supporting decision-making.
Benefits of attending course from Anexas :
- Professional trainers
- Soft and hard copy of material
- Data analysis on real data
- Online support
- Certification from Anexas
- To have a better understanding of how to collect reliable data & information
- To estimate the right amount of data required
- To make comprehensive data collection plan after understanding different kind of data
- To be able to track data, analyse errors and conduct root cause analysis
- To understand the benefits of statistical tools used to improve analytical ability and provide valuable insights
- To be able to apply different tools and templates used for assessment and testing
- To utilize data to drive a quantifiably higher level of service on key deliverables for customers
Businesses are using analytics to make more informed decisions and to plan ahead. It helps businesses to uncover opportunities which are visible only through an analytical lens. Analytics helps companies to decipher trends, patterns and relationships within data to explain, predict and react to a market phenomenon. It helps answer What is happening and what will happen, Why is it happening, What is the best strategy to address it.
A typical analytics project or engagement is generally divided into the following four stages are Stage 1 - Research , Stage 2 - Plan , Stage 3 - Execute, Stage 4 - Evaluate
A strategy built using analytics is a set of simple implementable recommendations that efficiently uses the information drawn from the data. An effective and efficient strategy suggests best use of the available business resources. It helps to find solutions for some of the biggest problems faced by the company. The process followed to formulate the strategy might be complex, but the final result is actionable and useful for management.
Analytics is not for one time or special event, yet it is a continuous process. The businesses should not take their attention off analytics and plan to adopt it as a regular business function. The business has to make collecting, cleaning and analyzing data a routine and a support role to functions that do not have the capability to do so. Most businesses look towards analytics when they face a problem and think the solution lies within their data. Once businesses start appreciating the potential analytics has to solve problems, they begin to use it to take all kinds of strategic and regular business decisions.
Data is the most important resource for any analytics project hence the business should make sure that it captures its business and customer data in a structured manner. This will ensure that company has all the relevant data in the most usable form and can help the project move along quickly.