Many believe there has never been a more exciting time to work with data.
The data analytics industry is predicted to reach almost $78 billion by 2023, and by 2020, there will be an estimated 2.7 million jobs open for data analysts and data scientists.
Data analysis organizes, interprets, structures and presents the data into useful information that provides context for the data. Data analytic techniques enable organizations to take raw data and uncover patterns to extract valuable insights from it.
In today’s world, data analytics techniques use specialized software and systems that integrate automation, machine learning algorithms and other modalities. Data analytics are important for a myriad reasons, including:
- It can provide ideas from huge amounts of data from multiple sources that include those that come from external third-party sources, the internet, social networks, those already stored in company databases.
- It also provides real-time forecasting and monitoring of occasions that may affect the performance or operations of businesses.
- It has the ability to mitigate risks by optimizing complex decisions about unplanned events more quickly.
- There’s the capability to locate, get, extract, change, analyze, and blend data with different tools.
- It provides the identification of the causes of failures and problems in real time.
- It offers a fuller understanding of the potential of data-driven marketing.
In healthcare, data analytics is being applied to find new cures and better understand and predict the spread of diseases. In police sciences, big data and data analytics have become an extremely important tool for law enforcement agencies in catching criminals as well as predicting criminal behavior. Credit card companies use big data analytics to detect fraudulent transactions.
Businesses also use data analytics to make better informed decisions. Data analysis can help companies better understand their customers, evaluate their ad campaigns, personalize content, create content strategies and develop products. Ultimately, businesses can use data analytics to boost business performance and improve their bottom line.
Want to learn more? Tonex offers Fundamentals of Data Analytics and Methods, a 3-day course that teaches participants about data analytics, data tools, big data and visualization strategies to maximize the value of available information.
Additionally, Tonex offers several other courses in Big Data Analytics and Data Science, including:
—Applied Data Science and Machine Learning Training: A 3-day class where participants learn how to apply data science methodologies to popular machine learning and deep learning by applying datasets and principles of training data, prediction algorithms using data.
—Big Data For Project and Program Mangers Training: A 3-day class that covers all the methods, cautions, and concerns of big data analytics in project management.
—Big Data Training: A 2-day class where participants learn how to store information for efficient processing and analysis when it comes to informed and intelligent business decision-making.
—Fundamentals of Data Analytics and Methods: A 3-day class that provides participants the knowledge and skills to understand the data analytics and associated methods.
For more information, questions, comments, contact us.