is a process of inspecting, cleansing
, and modeling data
with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains.
It refers to qualitative and quantitative techniques and processes used to enhance productivity and business gain. Data is extracted and categorized to identify and analyze behavioral data and patterns, and techniques vary according to organizational requirements.
Data analytics is primarily conducted in business-to-consumer (B2C) applications. Global organizations collect and analyze data associated with customers, business processes, market economics or practical experience. Data is categorized, stored and analyzed to study purchasing trends and patterns.
Evolving data facilitates thorough decision-making. For example, a social networking website collects data related to user preferences, community interests and segment according to specified criteria such as demographics, age or gender. Proper analysis reveals key user and customer trends and facilitates the social network’s alignment of content, layout and overall strategy.
Driven by specialized analytics systems and software, big data analytics can point the way to various business benefits, including new revenue opportunities, more effective marketing, better customer service, improved operational efficiency and competitive advantages over rivals.
Big data analytics applications enable data scientists, predictive modelers, statisticians and other analytics professionals to analyze growing volumes of structured transaction data, plus other forms of data that are often left untapped by conventional business intelligence (BI) and analytics programs. That encompasses a mix of semi-structured and unstructured data — for example, internet clickstream data, web server logs, social media content, text from customer emails and survey responses, mobile-phone call-detail records and machine data captured by sensors connected to the internet of things.