Analytics

“Using new and existing data and advanced quantitative analysis, e.g., machine learning or deep learning, to generate deeper insights, predictions and forecasts.”

Data analytics is the process of examining and interpreting large volumes of data to derive insights and knowledge that can be used to make informed decisions. This involves using a range of techniques, tools, and methodologies to collect, curate, cleanse, process, and analyse data from various sources, such as structured databases and unstructured text files.

Data analytics can be broadly classified into three categories: descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics involves the use of statistical techniques to summarise and visualise data in order to gain a better understanding of what has happened in the past.

Predictive analytics involves the use of machine learning and statistical modelling to make predictions about future events or trends.

Prescriptive analytics goes a step further and uses optimisation techniques to recommend the best course of action to achieve a specific outcome.

Data analytics can be used in a variety of industries, including finance, healthcare, retail, and marketing. It can be used to identify patterns and trends, detect anomalies, and uncover hidden insights that can help organisations make more informed decisions and improve their performance.

Analytics

“Using new and existing data and advanced quantitative analysis, e.g., machine learning or deep learning, to generate deeper insights, predictions and forecasts.”

Data analytics is the process of examining and interpreting large volumes of data to derive insights and knowledge that can be used to make informed decisions. This involves using a range of techniques, tools, and methodologies to collect, curate, cleanse, process, and analyse data from various sources, such as structured databases and unstructured text files.

Data analytics can be broadly classified into three categories: descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics involves the use of statistical techniques to summarise and visualise data in order to gain a better understanding of what has happened in the past.

Predictive analytics involves the use of machine learning and statistical modelling to make predictions about future events or trends.

Prescriptive analytics goes a step further and uses optimisation techniques to recommend the best course of action to achieve a specific outcome.

Data analytics can be used in a variety of industries, including finance, healthcare, retail, and marketing. It can be used to identify patterns and trends, detect anomalies, and uncover hidden insights that can help organisations make more informed decisions and improve their performance.