What is Data Analytics? And why is it important?

“The fashionable term now is “Big Data ”where “IBM estimates that we are generating 2.5 quintillion bytes of data each day, more than 90 percent of which was created in the last two years.” (Silver 2012)

“This exponential growth in information is sometimes seen as a cure-all,” where “Chris Anderson, the editor of Wired magazine, wrote in 2008 that the sheer volume of data would obviate the need for theory, and even the scientific method.37” (Silver 2012)

“Data-driven predictions can succeed—and they can fail “and “Big Data will produce progress eventually.”(Silver 2012) How quickly it does, and whether we regress in the meantime, will depend on us.”(Silver 2012)

Data analytics as described by Avinash Kaushik is the “analysis of qualitative and quantitative data from your business and the competition to drive a continual improvement of the online experience that your customers and potential customers have which translates to your desired outcomes (both offline and online)”(Analytics Academy 2013)

It is a “process by which insights are extracted from operational, financial, and other forms of electronic data internal or external to the organisation.”(Lynn 2014)

Data are collected facts and figures where metrics are used to quantify performance. In addition, measures are value of these metrics. (Lynn 2014) Due to the Internet as well as mobile devices the “consumer journey is forever changed.

People are empowered with more information that ever product reviews, recommendations from friends or experts, store inventory, an competitive pricing.

“All these things are now instantly available. Now firms need a “solid infrastructure to collect and distribute data, and the skills to analyze and interpret that data.”

You need the right people, processes and technology to uncover all the ways you engage with your customers, to measure the effectiveness of those engagements, and to make sure you’re taking actions based on your data to improve your business results.

Enter digital analytics. (Analytics Academy 2013)

So let’s get to it, become Google Analytics Certified! And i’ll let you in on a secret, here’s a link in how to get that Google badge : Getting Googly-Eyed over Google Analytics 

Best of Luck! #DataScientist

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