Understanding Data Analytics – How and Where to Use!
Thinking of taking data analytics training in Cyprus? Before you begin your search for the best academy for online data analytics training in Cyprus, take a look at what data analytics is all about and some other aspects related to it below for understanding why you should go for data analytics training in the first place!
What is Data Analytics?
Data analytics is a process that is used for turning raw data into meaningful and actionable insights. It is a form of business intelligence that is used for solving specific issues and challenges within an organization. It is the process that involves finding patterns in a dataset that can tell you things that are relevant and useful for a specific area of the business. In the process raw data is taken, analyzed for drawing out useful insights, which are then presented in the form of visualizations like charts and graphs which helps stakeholders understand the insights clearly and hence act upon them.
Where is Data Analytics Used?
Organizations that collect data can make use of data analytics. As far as how data analytics is used, it varies from organization to organization depending upon the context. In general, data analytics is used for driving smarter business decisions. It helps in reducing overall business costs, developing more efficient products and services as well as for optimizing processes and operations across any organization. Talking more specifically, data analytics can be used for prediction of future sales and purchasing behaviors. It can also be used for security purposes such as for detecting, predicting and preventing fraud, specifically within the insurance and finance sectors. Furthermore, data analytics can be used for the evaluation of the marketing campaigns’ efficiency and for driving more accurate audience targeting and personalization.
Data analytics can also be used in the healthcare sector for making faster, more precise diagnoses and for identifying the most suitable treatments for individual patients. You can also implement data analytics for optimizing general business operations like identification and elimination of blocks within certain processes.
In a nutshell, we can say that data analytics can be used in almost every industry ranging from marketing to healthcare to travel, transport and logistics, finance, insurance to entertainment and more. The examples include personalized recommendations you get from the likes of Netflix and YouTube – that’s data analytics for you.
What does the data analysis process look like?
The typical data analysis process can be divided into five steps that include defining the questions, gathering the data, cleaning the data, analyzing the data and developing visualizations and sharing insights.
To sum up, Data analytics helps in making sense of the past and predicting the future trends and behaviors. So with data analytics training in Cyprus you will learn preparing data for analysis, performing simple statistical analysis, creating significant data visualizations, predicting future trends from data, and much more!
SCP Academy provides data analysis training in Cyprus along with Python. Enroll now!