There are tons of uses of data analytics. One needs only to becreative. That’s all. Firstly, answer this, what can you gather from a random set of data? Nothing. You cannot draw a conclusion, you cannot develop models, and you can do nothing if you do not have the proper structured data.
But hey, guess what? Companies and businesses do it all the time- they gather information about their customers and users. But where does all that information go? Is there any real use for all that data? After all, to an untrained eye, it is at best numbers.
Those seemingly useless data can be used to make better products. By analyzing the data, companies can target their weak points and improve those. Data analytics can be used to reduce the cost or expenditure of a business entity. You can use data analytics to understand which parts of your business lag behind and need an upgrade. With the advent of cloud-based computing, data analytics skills demands have increased manifolds.
By employing algorithms to identify fallacies in data, a company can make better and faster decisions. It could understand the needs of its employees by accessing the data they have gathered on them. This, in turn, could be used to boost the productivity of the business.
Thus, data analytics can be used to solve an array of problems and lead to better growth, creativity,and productivity of a business.