data analytics - The Digital Freak

Essentially, data analytics refers to collecting raw data and analyzing the same to remove valuable information. Today, given the ever-growing importance of a digital business, data analytics has become a key element to help organizations reach informed and practical decisions. Moreover, it facilitates gaining a business competitive advantage. In such a scenario, this paper discusses the ways by which data analytics is essential in business decision-making and the way it can benefit an organization. 1. Better Decision Making With real-time data and insights, data analytics allows them to make real-time decisions. Trends and patterns of data are analyzed, and from those trends and patterns, businesses can identify opportunities and risks, which would then help them make informed deci...

Before learning about types of data analysis, let us brief first what is Data Analysis. Data Analysis Any rational person takes any decision in their life is by thinking about what happened last time or what will happen by inclining toward that particular decision.This is analyzing our past or future and making decisions based on it. So that is nothing but data analysis. This is the same thing analyst does for business objectives, is called Data Analysis. Data Analysis is a method to clean, transform, and organizeddata to find out beneficial information for business decision-making. The main objective of Data Analysis is to take out useful information from given data and taking the decision based on the analysis. To grow business,analysis is the most important step to understa...

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The Importance of Data Analytics in Business Decision Making

4 Types of Data Analysis