Data analytics is a method for analyzing data to produce knowledge and understanding. It’s becoming increasingly important in today’s world where information is constantly changing. Data analytics is used in many sectors and is quickly becoming a universal skill. Analyzing data helps us make sense of it, formulate plans based on that information and ultimately help us live better lives.
Data analytics is a process involving the analysis, synthesis, organization, classification, interpretation and interpretation of data to produce predetermined results. In the past decade, data analytics has become more popular thanks to the advancement in technology and data storage. The use of data analytics is becoming more important in almost every field. This includes business, education, government and health sectors. For example, businesses analyze the performance of their systems based on the data they collect. Education uses data analytics to measure the academic performance of their students. Government uses it to plan resources based on their needs and health organizations use it to plan treatments for patients with diseases.
There are many different types of data analytics- including statistical analysis, machine learning and natural language processing among others. Each has its own uses- statistical analysis is used to create databases while machine learning aims to train computers using artificial intelligence. Language processing is used to analyze text or speech for meaning and natural language processing looks for natural language patterns in structured data. Basically, there’s no shortage of innovative ways to use data analytics in the future.
Data analytics has become so popular that most people have heard of it before actually knowing what it is. Data analysts are now a sought-after profession due to the high demand for their skills. The number of jobs for data analysts increased by 26 percent from 2010-2016 in the US according to the Bureau of Labor Statistics (BLS). Other countries have similar job growth rates for their equivalent jobs. This includes Canada with 17 percent job growth from 2010-2016 and China with 18 percent growth over the same period. In the future, job growth rates for data analysts will likely increase as more organizations attempt to understand how people are using new technologies effectively.
Data analytics is quickly becoming a skill that everyone needs in order to function in today’s world. It’s becoming increasingly important in sectors such as business, education, government and health as more people seek ways to make sense of ever-expanding data sets. There are many ways to perform data analytics; Everyone needs at least some understanding of how to analyze data using various methods in order to succeed in the field.