In the last few years, Data analysis has become one of the most demanded skills in the job market. Let's discuss the several applications of data analytics, and the rate of skill development one has to deal with to have a better understanding and career scope in the field of Data
After Fuel, the data is the one most treasured by world countries. You must have heard about hackers breaching the firewalls right??. They use these critical terms because the thing they protect is really sensitive than ammunition. Also, Just like crude oil data can be transformed and refined into far more effective and proactive stuff. Its value is doubled when its perfectly analyzed and utilized properly.
What does Analysis do?
Analytics is nothing but making massively stuffed data. Which is also called big data into something that makes sense. It enhances its value of it and makes it an effective tool to aid the decision-making process in businesses of all domains. You must have heard the term ‘Data never Lies’.
This is one of the ultimate reasons why every business here relies on data analytics for its operations. The fundamentals of sales, marketing and retention of valuable customers all depend on the ability of a business to use its stored data efficiently. Why is the utilization of data essential for firms and why would that actually have a chance to enrich the brightest career? Let us see everything about it.
What is Data Analytics?
Well the question answers itself, it's about analyzing and studying data and figuring out trends and patterns that help businesses around the world make some wise decisions [ Something like Musk’s Tesla and Amazon did ]
Want to be more clear?
Let's say Tesla sold millions of electric cars in the last few months
They would analyze purchase patterns so that they can come up with ideas to sell more, or make more revenue. In that case, one of the things they will be doing is to evaluate and comprehend the ratio of purchase behaviours - certain stuff like the Age, gender, location, etc. Now the data analysts get to work and they find out that 80% of people around the age group of (25 to 33) bought the services from Tesla again, while only 10% of people in the age group (40-50) were interested in buying eclectic cars and services.
Handling 100s of people's data can be done manually, But when it comes to million? or quintillions?? Data sets will get complex for traditional processors.[ my windows 10 almost died when I searched for a file in the start bar when the memory is complete]. So, this is where we need data analytics.
Based on trends, Tesla will make decisions - whether to target the audience who are more interested in them or to encourage the latter group of audience to avail of their services Just like this, all the en number of companies use data analytics to bring out valuable information to make better decisions Really, you must have already known that right now we reside in a world full of data that is being captured by several electronic devices and channels we use on an everyday basis. Tech experts predict that 80 zettabytes of data are generated all around the world and it will be 180 by the year 2028.
So. who do you think is going to process this ?? Yes, its people like you who are entering the field of data at a young age and learning their way to be the masters of data science We at Skill Safari can help you to give sense to your dream. every year thousands of our students are getting placed in top tech firms as Data Analysts To know more about this get in touch with our career guidance experts at Skill Safari.
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