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An effective Approach to Data Analytics and it’s relevance to a business Organization

Science/Technology

An effective Approach to Data Analytics and it’s relevance to a business Organization

Author: Kingsley Mayor Omenaiko

Data analytics is a useful tool used in bringing the fields of business management, Statistics and information technology together.

First and foremost, let me start by giving credence to what data is all about.

What is Data ?

Data is basically defined as raw facts or unprocessed information. Data ( plural) or Datum ( singular) to an extent possess no meaning until it is been processed.

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When data is been processed, it becomes information and the stages of data transformation into information is called data processing.

How does Data Analysis work ?

Data analysis techniques utilise machine learning and algorithms to break down big data into information that can be used in a variety of ways that bring strategic value.

This ability to optimise efficiency from analysing data is valuable across many different industries. Data is very important because it is used by every Organisation for ascertaining of certain facts.

Usefulness of Data Analytics

Data analytics are used in the financial industry to decipher market trends, create credit scores and reduce risk for financial institutions.

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In healthcare, data analysis is in constant use to help predict patient outcomes, improve diagnostic methods, and aid new drug discoveries.

In fact, data analysis is useful in all spheres of life. Opportunities inherent in Data analysis are Continuously growing rapidly.

As you would expect, people who have the skills to deliver these data-driven insights are increasingly in high demand.

Facts about the Data visualization tool called Tableau

Tableau specialises in analysing and translating huge volumes of data into business-focused, easily understandable and actionable information.

For data analysts or business analysts, Tableau is an incredibly effective tool because it streamlines the process of presenting complex data in an engaging way.

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By learning how to use Tableau, you’ll build your confidence in data visualisation techniques, which will enable you to bring more strategic value to your organisation.

Tableau has been listed by Forbes as one of the best data analytics tools available on the market, and demand for Tableau skills in the workplace is growing rapidly.

Career Opportunities in Data Analytics

1) Business Analyst

Business analysts use data to aid companies make better fruitful decisions. Through their in-depth understanding of data analytics, and an ability to communicate clearly, they help leverage the gap between information technology and strategic decisions.

Data visualisation tools like Tableau are a crucial part of business analytics because they allow analysts to present data in diverse and accessible ways.

2) Marketing Manager

A marketing manager is responsible for the way a brand is presented to the globe. This can range from brand identity, to sales strategies and how an organisation communicates with its customers.

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Marketing managers rely on data analytics to help them better understand their customer base, which in turn allows them to create marketing strategies that they know will be effective and efficient.

3) Data Analyst

In a small organisation, the role of data and business analysts are often transferable due to their similar nature. Larger organisations, however, employ people for each role, as they can perform unique functions.

Although both roles work with large data sets, a data analyst is basically focused on capturing and analysing the data, whereas a business analyst is solely interested in how to use the data to make decisions.

4) Product Manager

A product manager’s basic responsibility is making sure their product works as effectively as possible.

This could relate to technical products, like apps or software, or financial products like mortgages and insurance.

A product manager might be required to conduct research around the requirements for their product, and an understanding of data analytics is vital in order to do that.

With all these been said, it is quite evidently clear that Data Analytics is part of the future. It exists without people knowing.

It is highly advisable for Organisations to invest in it as it is a useful devise in knowing the proficiency status of a business and as well in knowing what people think about such business.

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