The Ultimate Guide to Data Analytics: Techniques and Tools

DATA ANALYSIS
The Ultimate Guide to Data Analytics: Techniques and Tools
Data is powerful – and organizations around the world understand the value that data analytics holds when it comes to driving organizational growth and profitability.
Data analytics involves using data techniques and tools that identify patterns and trends, which in turn generate actionable insights that support informed decision making. The primary objective for data analytics is to address specified questions or challenges that are relevant for organization to drive better business outcomes.

Benefits of data analytics
Recognizing patterns and trends
Understanding how data is compiled
Future-proofing their career
Improving productivity
Mitigating risks
Identifying and leveraging sources for a competitive advantage
Help stake holders make better decisions

Types of data analytics
Past
Descriptive
Diagnostic

Future
Predictive
Prescriptive

Tools used for data analytics

Microsoft excel
It’s the world’s best and most user-friendly spreadsheet software features calculations and graphing functions. It’s ideal for non-techies to perform basic data analysis and create charts and reports.

Pros
No coding is required
User-friendly interface

Cons
Runs slow with complex data analysis
Less automation compared to specialized tools

Tableau
Being one of the best commercialized data analysis tools, Tableau is famous for its interactive dashboards and data exploration capabilities. Data teams can create visually appealing and interactive data representations through its easy to use interface and powerful capabilities.

Pros
Intuitive drag-and-drop interface
Interactive and dynamic data visualization
Backed by salesforce

Cons
Expensive than competition
Steeper learner curve for advanced features