Big Data

360DigiTMG-Data Science in Kalaburagi

There can also be a major security risk involved in data analytics. Companies use customer data such as survey feedback, purchase history, what the customer is searching to fine tune their services and products.

0
votes

360DigiTMG-Data Science in Kalaburagi

Introduction 

Have you ever filled a feedback form? Or given a rating to a certain service? That is a part of data analytics. Data analytics is the process of collecting data through various methods, sorting through the large sets of data and making a relevant conclusion that will help companies improve their services or products and help them find gaps in the market that they can use to create new products.

Click here for more information 360DigiTMG-Data Science in Kalaburagi

Applications of Data analysis

Customer interaction is one of the most important applications as it helps companies increase their business and customer experience. Companies can do surveys and use feedback forms to find out what their customers like, what the companies can do to improve their services and also find gaps in the market so they can make products to fill it and increase their profits.

It is also useful for simple things like transport. During events in countries and busy high populated areas, transport authorities use data analysis to figure out traffic zones and where high traffic is likely and where accidents are most likely to send out the authorities concerned and sort everything out.

Security is another field where data analysis is used. Police, FBI and other security firms can use data analysis to find high crime areas, why crime might occur in specific geographical areas. Police can now reach certain locations with the help of the data they have, this shows how data analysis is working.

Advantages of Data Analytics

It helps companies deliver the relevant services and products into the market. Using data analytics, companies can go through the multiple large quantity of data sets to find out what is needed in the market and what is required by their customers and focus their resources to produce more of those products and render those services. It can also help companies save money. They can use the data they have collected to anticipate the demands of certain products and services and put their resources into that instead of wasting their resources on producing everything and not having certain things sell. This can also cause them to have good customer relations.

Disadvantages of Data analytics

Data analytics can be hard and complicated. Data analytics requires specific tools and skills and this can be time consuming and expensive for companies to teach to their employees, it can also be difficult to keep evolving and changing with the progressing technology. 

There can also be a major security risk involved in data analytics. Companies use customer data such as survey feedback, purchase history, what the customer is searching to fine tune their services and products. This is a breach of privacy as companies are invading the privacy of their customers and this can cause customers to not trust the companies. 

Resource box 

Data analytics is the way to move forward for companies who want to increase their business and brand loyalty. They can use this to boost their business, improve their customer satisfaction rates and increase their brand awareness. If you are a student or a professional data scientist, there are many courses offered to help you learn data analytics from the start or help you improve your skills and fine tune them. 

Click here for more information 360DigiTMG-Data Science in Kalaburagi

Share this

Leave a Reply