How Data Analytics And BI Are Shaping The Future Of Global Businesses

Role of Data Analytics & BI in Shaping the Future of Global Business

Key Emerging Trends Of Data Analytics And BI

Did you know, there are around 15 million petabytes of information available on the internet today? Emerging technologies like the Internet of Things and Smart Devices are slowly getting in the hands of the common man, which means the rate of data creation is mounting significantly. Therefore, to declutter and manage the enormous chunk of data created a “Data Analyst” comes in for the rescue.

With the introduction of concepts like big data, the need for efficient data analyst and scientist will rise.  As per a recent report by Inside Big Data, Netflix saves $1 Billion every year in value from customer retention by efficient usage of Big Data, Data Analytics, and Business Intelligence. The very fact of Netflix is undoubtedly the best analogy to explain the impact of Data Analytics and business intelligence for various businesses.

Let’s discover how Data Analytics and Business Intelligence is utilizing data to shape the future of global businesses.

Data Catalog and Governance

Data analytics also improvises the availability of data sets and metadata around a topic and assists users in locating it quickly. The efficient cataloging of data boosts the efficient governance and management of data.

Data Visualization

Reading number and texts are dull affairs. Statistics can be well represented using graphics. It is easier to understand and manage. The current data analytics systems in the market are equipped with data visualization, which helps companies take essential decisions easily and quickly.

Target Segmentation

Data analytics and business intelligence tools help to segment the target audience into various categories based on Demography, Geography, and Psychographic components. Thus, it helps the companies to reach their precise target audience, helping them improve their conversion rate.

Data Mining and Benchmarking

Discovering patterns in large data sets is a tough job. It can only be accomplished using machine learning, statistics, and database systems. Data Analytics and Business Intelligence can help in mining and setting standards for data manipulations.

Performance Management and Sales Intelligence

Analysis of sales and performance can be automated with the help of data analytics. Systems can analyze the data from sales and performance records and determine the pros and cons.

Personalization and Improved Customer Experience

Predictive analytics can help websites with customizing the advertisement. It enables them to offer the most relevant publications, products, or news articles. The real example of it is Google Ad Network.

Augmented Data Analysis and Management

Companies now use technologies like machine learning and Artificial intelligence to self-configure and self-tune enterprise data management disciplines. These disciplines include data quality and integration, metadata management, master data management, and database management systems.

To conclude, we hope you might have by now realized the tremendous demand for the data analysts and scientists. They are the ones who can understand Data Analytics and support in picking out the most relevant information from a massive pile of data. LearnAtRISE is offering a unique program on Data Analytics for those who want to start their career in this recognized industry. The course is designed for both fresher’s and experienced professionals keeping in mind the current market demands. Join today and explore the journey of being a Data Analyst.

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