What is Data Analytics?
Data Analytics is science of examining a raw data to extract meaningful insights from the data. Basically it uses statistical analysis on data to find solution. Very first question which arises in mind after hearing data analytics is, why do we actually need it? Taking very common example, if we want to buy clothes online, one try to find out the brands available, platforms available to buy goodies, ratings of the product and after considering all this factors, we end up with conclusion. This is data analytics, from past experience one can figure out the best possible solution to problem. In total we have six phases: Ask, Prepare, Process, Analyze, Share and Act.
Dealing with any kind of data, the very phase is Ask. This is important because any organization uses data to improve employees retention. Let’s consider the scenario where you have your clothes shop and you found that your sale is decreasing from past month. You need to analyse the reason behind the decrease in stock.
This situation can be handled in diplomatic way. The very first step you as owner of shop would take is find the quality of products that is brought to your shop for selling. Then you can find out whether the sales girls are doing their task properly. This because sales girl are only intermediate between customer and you. Also you can compare the price tags for same product in market, and find out whether you are selling it at high rate. And at the end you can find customers review for the product.
This can help increase your sells at exponential level. Hence ask is very important phase in data analytics. Data analytics have most promising carrier in this era. Ask phase help to define clear objective.