Our sequel continues… Last week, we outlined why Cyber Security is one of the courses to consider in 2021 and the career opportunities it offers. This week, we will be discussing the next top 2021 programme \u2014 Data Analytics<\/p>\n
Did you know that data-driven businesses are twice as profitable and eight times more likely to grow than their peers? Research organized by IDC has found that nearly 50% of organizations are deriving less than half of the potential value from their data because of gaps in data management. So the question is, what do the big organizations know that the rest of us don\u2019t know?<\/p>\n
The answer lies in the way they analyze their data. The process in which they review, refine, transform, and model data in order to find useful information which helps them in decision-making.<\/p>\n
The most successful companies and organizations are those that are constantly learning and adapting. Regardless of the industry, you work in, it is important to understand what happened in the past, what is happening now, and what will happen in the future.<\/p>\n
Data Analytics is probably the most important tool an organization has today for obtaining customer information. The type of information you get from your data always depends on the type of analysis you perform. Descriptive analysis, which explains what happened, the diagnostic analysis explains why it happened, predictive analysis like its name predicts what is likely to happen in future and prescriptive analysis which gives insights into what the best course of action should be, are the various techniques used to analyze data, all of which play an important role in organizations today.<\/p>\n