Learn Data Analytics For Free & Get Completion Certificates
Data analytics converts raw data into actionable insights. It includes a range of tools, technologies, and processes used to find trends and solve problems by using data. This practice is crucial for businesses to make better decisions, verify patterns, and elucidate trends within massive data sets. Data analytics proves particularly effective in industries ripe for job creation.
Upskill yourself in this field by joining Great Learning's Data Analytics courses. It offers training from beginner to advanced levels.
Types of Analytics
The two main types of analytics are as follows:
Descriptive Analytics: Understanding the "What"
Descriptive Analytics is the first step in data analysis. It aims to answer "what" questions about business trends and Return on Investment (ROI). This form of analysis does not jump to conclusions; instead, it summarizes data to offer the most appropriate solutions. People use advanced methods such as predictive and prescriptive analytics after learning the basics.
Advanced Analytics: Exploring the "What If"
Advanced Analytics goes beyond basic descriptive methods by utilizing tools like Machine Learning, classical statistics, neural networks, sentiment analysis, and Natural Language Processing (NLP). This allows for deeper insights and answers to "what if" questions, enabling businesses to predict and discover new trends. The availability of Machine Learning techniques, cost-effective computing, and massive data sets significantly supports the use of Advanced Analytics in various industries.
Benefits of Data Analytics in Industries
- Competitive Advantage: Data analytics helps businesses stay ahead of the curve in their industries.
- Informed Decisions: Data provides insights for making strategic choices.
- Cost Reduction: Analyzing helps identify areas to optimize spending.
- Improved Customer Service: We can use data to personalize experiences and better address customer needs.
- Marketing Optimization: Data analytics helps target marketing efforts more effectively.
- Increased Efficiency: Analyzing data can lead to streamlined operations and improved workflows.
Upskilling in Data Analytics
The Data Science and Business Analytics Program at Austin's McCombs School of Business, is a structured program. The program helps people get the most out of data analytics. It prepares students for high-demand jobs in the field by teaching them all about data analytics from experts in the field. It also includes hands-on projects that address problems in the real world.
