Introduction to Scope of Data analytics:
Data analytics refers to the techniques to research data to reinforce productivity and business gain. Data is extracted from various sources and categorized to analyze different behavioral patterns. Data analytics is not just a buzz word but has its importance in finding insights and making the decisions to ease our lives. Also, check this Data Analyst Course Online to start a career in Data Analytics.
Types of data analytics:
There are four types of data analytics:
- Descriptive:
It describes what has already occurred. Example: creating a sales dashboard to track products’ performances, but they do not tell us why the change happened or what will happen in the future. Don’t delay your career growth, kickstart your career by enrolling in this Best Data Analyst Course in Bangalore.
- Diagnostic analysis:
It tells why it happened. For example, a sudden increase in traffic to a website for no particular reason or the sales increases in a region where there has been no marketing change.
- Predictive:
It tells us what will happen in the future as a result of something that has already happened. For example, utilizing the historical data to predict what will help in making more profit or which customers should be shown an advertisement on social media platforms or finding out an appropriate launch date for a movie to get maximum customers.
- Prescriptive:
It describes the right course of actions that are needed. It tells us what will happen and what measures to take if it happens. For example, how much discount to offer on different items, which platform to use for engaging customers, and what content to showcase. Wish to pursue a career in data analytics? Enroll in this Data Analyst Course fee in Hyderabad to start your journey.
Who is a data analyst?
A data analyst is a person who collects the data from various sources and analyzes the data on different aspects to generate the results.
Why do we need data analytics?
There is a tremendous amount of data available. It is better to analyze data to our benefit to gather hidden insights or to generate reports, perform market analysis, and improve business requirements. Scope of Data analytics helps businesses to understand their past performance and make decisions. They can validate their course of action before committing to it. Kickstart your career by enrolling in this Data Analytics Courses in Pune with placement.
Application of data analytics:
A few applications of data analytics are:
- Fraud analysis: Banks or other organizations can use data analytics in fraud detection.
- Healthcare: Early detection of ailments is possible by making use of data analytics.
- Inventory management: Huge warehouses need to keep a tab on the stock amount, and they frequently need to understand what the need of the hour is. In this scenario, data analytics comes in handy.
- Targeted marketing: Using data analytics, you can predict the customers’ choices, and you can specifically advertise your products to interested customers.
- City planning: You can plan how it will look and what will be required.
Scope of data analytics:
The increase in the data and getting insights of things in various businesses and organizations has increased. Data analytics is in use everywhere. Every company needs data analytics to enhance their services and check what was used before and what is needed in the future.
A career in data analytics:
Various courses and training are available to start a career in data analytics. You need to acquire some skills to become a data analyst. It is crucial to have analytical, statistical, and problem-solving skills. You must have knowledge and understanding of coding. A programming language such as python, R, JavaScript is beneficial. The average salary to expect in the U.S. is $43-$85 per annum and in India is ₹198K- ₹ 924K per annum. Pursue a career in Data Analytics with the number one training institute 360DigiTMG. Enroll in the Data Analyst Training in Chennai to start your journey.
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