How Data Analytics Helps To Make Better Business Decisions?

How Data Analytics Helps Businesses To Grow

Introduction :

In recent years, the amount of data that is generated from online sources has been increasing at a rapid pace, data from almost every industry like finance, trading, healthcare, sports, insurance has been collected and extracted for making better business decisions, Thanks to the advent of increased e-commerce and online business. Nowadays, every 3rd person has its own online business through which he wants to promote his business and grow in its field.

 

Career Options In Data Analytics :

These business advancements and presenting new ideas of business has brought various opportunities for individuals in terms of getting data analyst jobs, or to start their own third party business agency to help big companies to get their work done. Data Analysis field provides job profiles like data architect, data analyst, data scientist, Chief Data Officer (CDO) with handsome salary and career growth. Individuals that are searching for jobs in analytics industry has increased considerably.That is the reason why they are searching jobs portal that can provide them with the opportunity to kick-start their career in Analytics.

 

How Data Analytics Work :

According to Marketing Analysis experts, “the next big thing that is going to be an influential change in the years to come would be Data Analysis”. Just like the prediction that was done a few years back that Digital Marketing will bring huge opportunities for businesses to promote their products in the Online Channel.

Every business organization now promotes their services and updates online. Many organizations are developing e-commerce sites to help the people buy, sell, and review products through website and apps online. This B2C mode of business is helping both parties. People who visit the app or website ultimately become the customer of the business when they buy something from the website. On the other hand, the businesses are able to develop a large customer base getting details of each user from various locations around the globe whoever buys their product.

This builds a huge customer database for the business through which data can be extracted. So, the data related to each user becomes absolutely important for the companies to manage and analyze. Through this data analysis of customers, Companies are able to find out the behavioral interest of the customers as per the demographics, which will help them to improve the quality of product and data to be displayed to the users which can increase the number of users to the site and increase the possibility of the user converting to a customer increases . On the basis of this analysis, companies can predict and forecast the future sales of the product and make better business decisions to increase the business and expand the customer base.

 

Tools Used In Data Analytics :

Businesses use many business intelligence tools and machine learning techniques to forecast the data. With continuous improvement in technology, the development of data analysis tools has also been initiated. These are categorized into programmatic and non-programmatic tools.

Programmatic tools include

– R

– SAS

– Python

– Big data

– Hadoop

 

Non Programmatic Tools are:

– Excel

– Tableau

– Rapid Miner

– QlikView

– Data Science Studio(DSS)


Conclusion :

Data Analytics industry will be in demand for the years to come because the amount of data that is being generated and extracted from various sources is increasing on a consistent basis and we require to manage and build proper insights of that data to make better business decisions.

 

Author Bio :

Hi, I am Neeraj Dewangan, I am a Digital Marketing Executive by profession. I like reading trending stuff related to marketing and apply them. I am a follower of Cricket and like playing Basketball

 

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