Data analytics is the process of turning raw data into valuable insights. This can assist companies make better business decisions which will boost growth and improve their performance. It is utilized across all industries from healthcare to retail to the prevention of crime.
Data scientists often start their careers by acquiring relevant skills and experience via an internship or apprenticeship. Alongside proficiency with spreadsheet software, data analysts should be proficient in programming languages such as Python, SAS and R, as well as machine learning techniques, database management, and data visualization.
Data analysis is a complex and multi-faceted area that has various approaches. There are four steps to the process: identifying goals and questions, obtaining information, cleaning data and analysing data. The results are presented to stakeholders via visualization of data.
Cluster and time-series analyses are among the most sophisticated methods of data analytics. These methods basically break down large data sets into smaller groups, for example, geographical or demographic segments, or by analyzing trends over time (e.g., the number of Instagram followers or the movie box office gross for an actress).
The practical applications of data analytics are endless. Junbo Son is a researcher from the University of Delaware who has created a data analytics platform to assist asthma patients in managing their asthma by using bluetooth-enabled devices. In the business world, this sort of technology is used to target marketing efforts, increase risk assessment and scoring in credit reports and improve delivery logistics.