According to a survey, 89% of organizations use data analytics applications to improve decisions. Another one points to the fact that companies using data analytics are 2.5 times more likely to make better decisions than those who do not.
Sooner rather than later, businesses are realizing the true importance of data analytics. Data analytics is significant because it allows decision-makers to create an evidence-based strategy, understand customer behavior, and increase overall productivity. Businesses that have embraced it are bound to reap the benefits as it gives a clear insight and a competitive edge to their business.
This blog discusses the diverse aspects of data analytics and its applications across various sectors.
What is Data Analytics?
Data Analytics, simply put, is analyzing raw chunks of data to get meaningful and actionable insights. Think of it as a form of business intelligence used to solve specific challenges.
Say you run an e-commerce company. You might want to understand your customer behavior and patterns. Using such insights, you can elevate the entire customer experience. Well, data analytics lets you do just that. Data Analytics tools evaluate past trends to predict future ones. In the process, you get better and more informed choices instead of guesswork.
Source by: https://www.bluent.net/blog/data-analytics-applications/
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