What is data analytics used for?

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Written by
COO at Inoxoft, former .Net Software Engineer

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. 



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By using different tools and technology, data analytics aim to understand datasets and to obtain insights that can be turned into action.

What data analytics can offer you?

  • Natural Language Processing

Analyzes datasets of text to obtain insights, improve customer service, create chatbots, etc.

  • Computer Vision

Creates algorithms that enable computers to leverage image recognition and to learn from a previous experience.

  • Marketing optimization

Based on customer behavior data it can predict trends and create a marketing plan.

  • Descriptive analytics

Explores and explains something that’s already happened.

  • Diagnostic analytics

Aims to understand and explain the reason behind what happened.

  • Predictive Modeling

Provides hypotheses, predicts risks, answer questions about what will happen in the future, based on past data.

  • Prescriptive analytics

Plans actions that the company has to take to reach its goals.

  • Pricing analytics

Creates a pricing strategy for the business.

 

Follow the link to discover the difference between data analytics and data science and check what it can offer your business.

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