May 24, 2019

Why Organizations need Data Analytics

Data analytics examines the data sets to draw information which they contain by using specialized tools. These days, the commercial industries are using the data analytics techniques which help them make better operational decisions.The data that is being generated these days by many industries, users and organizations is increasing at

a rapid rate, and therefore the growth of information is also high. In order to process and obtain information from this data, the organizations use data analytics, as it helps in obtaining higher profits, smarter business moves, and reveals ways to more efficient operations.

Today we have various tools which incorporate data analytics at the time of decision making, unlike in the past few years where data was processed with the help of skilled analysts. Social media has been one of the major reasons for enhancing data growth in the organizations. Importance of data analytics Data analytics helps organizations and businesses to improve their customer service efforts, operational efficiency, increase revenue and also to optimize marketing campaigns. The data that is analyzed can consist of previous records, or new records based on real time analytics, depending on

the application in which it is used. The data that is collected by the industries is analyzed internally and it helps to identify the performance of the business as well as the employees.Tools for data analytics Various tools are being used for data analytics. Let us see them one by one.A.

Open source tools

1. OpenRefine - this tool is used to work with messy data i.e. the data is first cleaned, then it is transformed from one format to another, and finally they are extended with web services.

2. Knime - this tool is used for extracting the information from the data and provides insights into the data. It also helps in predicting the future.

B. Data visualization tools

1. Tableau - this is a visualization tool which represents data in the form of graphs and charts. It provides insights to the users through data visualization.

2. Data Wrapper - this visualization tool is used for making interactive charts.

C. Data extraction tools

1. Octoparse - this is a crawler tool which is used for extracting all kinds of data from any website.

D. Sentiment tools

1. Semantria - this tool is used to gather texts, tweets and other data from the clients and it then

analyzes them to obtain valuable insights.

2. OpenText - this tool is a classified engine which evaluates and identifies the patterns and expressions of sentiments which are within the textual content. It analyzes whether the texts are factual or subjective. It also analyzes what opinion is expressed through the content, whether it is positive, negative or neutral.

E. Databases

1. The World Factbook CIA - it provides information about various fields, be they history, geography, people, economy, military and what not. This information is provided for 267 world entities.

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With the increasing amount of data, the trend for data analytics in businesses has literally changed the world. Data analytics has become a crucial part of every company. Learn all about data analytics from data analytics training in Hyderabad to enrich your profile and knowledge.