What is Data Analytics

Data analytics is:Techniques and processes used to enhance productivity and business gain.

Data is collected and categorized to Identify and Analyze the behaviour and patterns of subjects

Data Analysis was done earlier too, but with internet in every part of our life, data analysis is not guess work anymore, it’s science. Data analytics is so big today because of:

Better data collection Better data mining More processing power

Why Data Analytics in News

Airline prices changes every hour Facebook recommending friends Some customers getting more discounts from sites like

Flipkart than others Railways & shipping companies using sensors on every

vehicle to schedule maintenance Government using Aadhar card usage to build schools and

clinics

Examples of Data Analytics in work

Three Types • Descriptive

analytics • Predictive

analytics • Prescriptive

analytics

Most Raw Data, especially Big Data, is not suitable for human consumption. But the information we derive from the data is

The purpose of Descriptive Analytics is to summarise – Describe - what happened.

Descriptive Analytics

80% of business data analytics, notably social analytics is descriptive

Predictive Analytics is used to forecast – not to tell – what will happen in future

Predictive Analytics

This type of analytics is increasingly used after the onset of Big Data

Use various techniques of statistics, data mining, modelling & machine learning

Predictive Analytics is used to recommend course of action

Prescriptive Analytics

Doesn’t predict one future, but many – depending upon decision maker’s action

Needs to have actionable data (data that can be acted upon) & a feedback mechanism

As big data gets into every nook and corner, the demand for data analytic skills is seeing no end ….. and this would remain for some time.

Career in Data Analytics

WELCOME TO THE BRAVE NEW WORLDOF DATA ANALYTICS