What is Data Analytics?
Data analytics is the process of analyzing raw data to draw conclusions about the information. It involves inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.
Types of Data Analytics
- Descriptive Analytics:
Focuses on historical data interpretation. - Diagnostic Analytics:
Investigates why something happened. - Predictive Analytics:
Uses historical data to predict future outcomes. - Prescriptive Analytics:
Suggests actions based on data analysis.
Importance of Data Analytics
Data analytics helps businesses optimize processes, increase efficiency, and make data-driven decisions. It can reveal trends and metrics that might otherwise go unnoticed, offering valuable insights for improving operations.