Everything You Need To Know About Data Analytics

Data analytics is a technique used to extract meaningful insights from data. It is the process of transforming raw data into information, knowledge and insight. It's the job of a data scientist to take large amounts of data and make sense of it, so that they can help businesses make more informed decisions.

Types of Data Analytics:

There are four main types of data analytics.

Descriptive analytics: Descriptive analytics provide a summary of what has happened over a given period of time. They may include measures such as total number of views, or sales volume.

Diagnostic analytics: This type of analysis looks at why something happened. It involves using data from a variety of sources to pinpoint what caused an event, and then learning from the results.

Predictive analytics: This is looking at historical data on past summers and weather models to predict what will happen in the near future.

Prescriptive analytics: Prescriptive Data Analytics is the process of using data to make decisions about how to proceed in a given situation. It's a form of predictive analytics that uses past performance, current trends, and other information to predict future outcomes.

Why Is Data Analytics Important?

Data analytics is important because it helps you determine how you can improve your business. It can help you understand why certain parts of your business are performing well, and what you can do to make other parts work better.

Data analytics allows you to understand what’s happening in your business by turning raw data into useful information that you can use to improve your processes, products and services. It helps you understand what customers want, how they use your products or services, how they interact with your brand and more. Data analytics can also help you identify key trends in the market so you can stay ahead of competitors and keep customers happy.

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