Data analytics

Data analytics refers to the process of examining datasets to draw conclusions about the information they contain. Data analytic techniques enable you to take raw data and uncover patterns to extract valuable insights from it. For businesses, the data they use may include historical data or new information they collect for a particular initiative. They may also collect it first-hand from their customers and site visitors or purchase it from other organizations (second-hand data) Uses : (1) It eliminates much of the guesswork from planning marketing campaigns, gives you useful insights into how your campaigns are performing so that you can fine-tune them for optimal outcomes. (2) It helps in choosing what content to create, developing products as per customer preferences and requirements, provides more personalization and build stronger relationships with customers. (3) gain insights into your audiences and campaigns that help you improve your targeting and better predict future customer behavior. (4) In addition to using data to inform future decisions, you can also use current data to make immediate decisions.

Sudha Reddy

CA Final

★ 20K+

27-Sep-21 09:48

Top Data Analytics Applications 1. Security - predictive analysis has also helped in dropping crime rates in certain areas. 2. Risk detection & management - analyzing recent expenditure, profiles, and any other important information to understand any probability of a customer defaulting; analytical software can be used to detect risky claims and push such claims 3. Reasonable Expenditure & Interaction with customers 4. Healthcare - healthcare facilities can track the treatment of patients and patient flow as well as how equipment are being used in hospitals 5. Travel - Data analysis can use data that shows the desires and preferences of different customers from social media and helps in optimizing the buying experience of travellers. 6. Digital advertisement

Sudha Reddy

CA Final

★ 20K+

27-Sep-21 09:53