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For our ancestors who didn’t have the benefit of a world map...

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For our ancestors who didn’t have the benefit of a world map...

Rizom - April,2018
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For our ancestors who didn’t have the benefit of a world map...

Rizom - April,2018
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For our ancestors who didn’t have the benefit of a world map...

Rizom - April,2018
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NikhilNaik07 2019-05-09 04:08
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TO INTEGRATE YOURSELF OR NOT WITH DATA ANALYTICS

THE FACTORS AT PLAY

The world and fields of data (data mining, data analytics, big data, machine learning, etc.) all work on the same basic principle- finding and discovering hidden patterns in large volumes of data. What these patterns essentially do is that they help in designing and coming up with predictive models that can answer a ton of question and solve problems for any business. The accuracy and the truthfulness of results stemming out from data analytics is not something on which one can blatantly raise a finger upon. Even after delivering such mind-blowing and astonishing results, there still exist a large proportion of people who are extremely apprehensive of undertaking a data analytics project not knowing that at the end of the day, it is only set and bound to boost their business prospects and opportunities. But the question to ask over here is what and why should one undertake and implement data analytics concepts and ideas in their organization. The answer to such questions can be broadly classified into 3 categories-

  • Economics
  • Data
  • Performance


DETAILED UNDERSTANDING



  • The first point is economics. Economics is all about determining whether or not there is an urgent need and requirement for data analytics to finally step into the depths of your organizational workings and bring about the required changes. It is already known that data analytics is all about finding relevant and valuable information from your raw set of data.


  • The next aspect is the data. Any sort of research on data is absolutely worthless in terms of both time and money if one does not have qualitative as well as quantitative data to back up the study i.e. the data and the records should be in ample amounts as well as should relate directly with the purpose of the analytics to be done. It should not happen that the purpose of your study is to go north and the dataset that you have pertains to things about the south.


  • Last but not least- performance. This part deals with acknowledging and answering the question as to whether or not there is a need for increasing the current benchmark levels for the various happenings in your business or not.


RESOURCE BOX

After addressing the above 3 factors, almost 9 out of 10 businesses find themselves in a dire need for
implementing data analytics project within their organization. As such, the need for people who can do
so in an efficient and professional manner is at an all-time high at the moment, which means that
getting data analytics courses would be in your best interest at the moment.



Source URL : http://www.imfaceplate.com/nikhilnaik07/to-integrate-yourself-or-not-with-data-analytics

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