Companies are collecting loads of data, that usually doesn’t bring any value to the business, because it’s raw. This is where data analytics comes in.
By using different tools and technology, data analytics aim to understand datasets and to obtain insights that can be turned into action.
Analyzes datasets of text to obtain insights, improve customer service, create chatbots, etc.
Creates algorithms that enable computers to leverage image recognition and to learn from a previous experience.
Based on customer behavior data it can predict trends and create a marketing plan.
Explores and explains something that’s already happened.
Aims to understand and explain the reason behind what happened.
Provides hypotheses, predicts risks, answer questions about what will happen in the future, based on past data.
Plans actions that the company has to take to reach its goals.
Creates a pricing strategy for the business.