What is Data Analytics.
Data analytics is the process of examining data to discover patterns, draw conclusions, and make informed decisions. It's a multidisciplinary field that uses a range of techniques, including math, statistics, and computer science, to analyze data.
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Improving decision-making: Data analytics can help stakeholders make better decisions.
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Shaping business processes: Data analytics can help shape business processes and foster business growth.
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Identifying sources for a competitive advantage: Data analytics can help organizations identify and leverage sources for a competitive advantage.
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Mitigating risk: Data analytics can help organizations mitigate risk.
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It also entails applying data patterns toward effective decision-making. It can be valuable in areas rich with recorded information. Analytics relies on the simultaneous application of statistics, computer programming, and operations research to quantify performance.
Data analytics can involve:
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Collecting data
Data from different sources may need to be combined and transformed into a common format.
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Analyzing data
Data can be analyzed using a variety of tools, including spreadsheets, business intelligence platforms, and structured query language (SQL) tools.