Data Analytics is a powerful technique of processing raw data and converting it into an informative data, moreover, it deals with the big data that is mostly structured because the data is extracted from many sources like websites, applications, etc.

To understand it more effectively let's take an example of brand advertising, almost every popular brand uses data analytics to process the past data extracted from websites, social media, etc. to get the feedback about the brand and improve its quality or any other negative feeds from the public, moreover, data analytics is being used in every sector and getting popular at a very rapid rate. Data Analytics uses Statistics tools to process the raw data.

Types of Data Analytics

· Prescriptive Analytics

· Predictive Analytics

· Diagnostic Analytics

· Descriptive Analytics

Importance of Data Analytics ?

Importance of data analytics has increased in every sector like business, finance, banking, trading, etc. to increase the performance of each and get at the top position among them. Below are listed the importance of Data Analytics according to the sectors with little description about each, so that one can understand the basic need of this technique.

· Data Analytics in Business: Business owners/Companies prefer to hire data analzers to analyze the performance of the company and increase the performance, analyze the risk, etc and according to the information provided by the data analyzer the steps are taken and gain a strong growth than other rivals.

· Data Analytics in Education: The education sector has changed a lot as compared to the past few years, the syllabus has almost changed now students are being provided the practical knowledge for better understanding and remember it for long time, moreover, it’s used in increased here is due to dynamic changes in the lifestyle and technology because of which data analytics is being used in education sector to continue providing the updated information to the students and as we know the future of every nation depends on the quality of education provided to the students.

· Data Analytics in Banking: Data Analytics is getting much popular in banking sector to increase the performance of the banks and increase the number of peoples towards a particular bank by providing the new investing technique and provide them the high-interest rate without hurting its profit, moreover, it is being used in managing risk and increasing the performance.

· Data Analytics in Training: To get the performance rate of a trainee in the company data analytics is the best technique to analyze the employees because no company would hire a candidate who is not a fast and smart learner as he/she could bring a huge loss to the company with wastage of money as well as time.

There are many more sectors where data analytics is being used to enhance performance, if you are interested to know about more other, please do comment in the comment section below.

Hope you would have understand about the importance of the Data Analytics. Data Analytics is a demanding sector for today and will be one of the finest sector in coming future.

Thanks for devoting your time, hope it might make your day more productive. Have a productive day.