Data analytics is the science of extracting patterns, trends, and actionable information from large sets of data. While often used interchangeably with the term “business intelligence,” it’s useful to distinguish the terms. Think of business intelligence as the ways in which companies use data to improve their management and operations. Data analytics involves improving your ways of making sense of that data before acting on it; further still, you can slice and dice the data to extract insights that allow you to leverage this data to give you and your organization a competitive advantage. Improving your capacity to analyze this data works at multiple stages — from collection processes to organizing and communication techniques such as modeling and visualization. Yet, whereas data once required a large team of skilled analysts to be made useful, today there are a number of enterprise level tools for running high speed data analytics on massive amounts of data, as well as publicly available free tools like Google Analytics that offer every business and entrepreneur the opportunity to incorporate data analytics when making decisions.
Traktech delivers data analytics services integrating the existing available resources and external data sources to provide you the insights you need for decision making quickly.
5 Steps of Data Analytics
Provide single source of truth to base decisions on
Ensure consistency and quality of data being used for analytics
Eliminate data retrieval problems
Make decisions more efficiently with highly visual representation of data
Use social media analytics such as media and behavioral analytics
Track quality of content and viewership and get targeted advertising
Help uncover new revenue streams
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