Data analytics

Hey class so my company uses data analytics daily and primarily uses all those data analytics exclusively to fulfill needs of the customers. All this did analytics is important because of the need to be more efficient, readily available, and on demand for our customers. This data collection that we work daily is typically for some sort of decision-making insights. Our data analytics help our business and the industries within the customers that we work with be able to further grow and develop their products as well as help their consumers by providing them important information that they previously may not have known about. In the last 20 years there have been companies solely dedicated to data analytics and providing a broader spectrum two companies to build to provoke provide them information that they previously may not have known about or previously may not have paid attention to due to the complexities that data analytics can uncover. Did analytics is an integral part of making any strategy within an organization successful and companies with outdated analytics will be left behind in multiple different ways not just within productivity but in the area that hits most companies the hardest the financial bottom line. Data analytics is used to discover and interpret the data which will help in decision making. On the other hand, statistics is the science that collects the data to help in the analytical process. Both data analytics and statistics go hand in hand together to help in understanding data. There are three main categories that analytics falls under which are descriptive, predictive, and prescriptive. I work in corporate banking and data is crucial because we analyze the market and industry trends to determine our marketing and pricing strategies to make sure we are being cost efficient while still maintaining competitiveness.