Data analytics is the science of analyzing raw data in order to make conclusions about that information. Many of the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption.
Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.
Types of Data Analytics
Data analytics is broken down into four basic types.
Data analytics is critical because it assists organisations with optimizing their performances. Implementing it into the business model means companies can reduce costs by identifying more efficient ways of doing business and by storing large amounts of data. Organisations can also use data analytics to make better business decisions and analyze customer trends and satisfaction, which can lead to new—and better—products and services.
At STRIDE, we take Data seriously! Making data driven business decisions is critical for business success and longevity in an ever-changing business and technological landscape. We build data analysis modules into our solutions as well as provide interactive dashboards to our clients allowing them the ability to make sense of the data and take key business decisions in the way forward.