Data analytics is a valuable field that allows businesses and individuals to make informed decisions based on key insights. We'll cover everything you need to know about data analytics — from what it is and why it matters, to the tools and techniques used by professionals. By the end of this guide, you'll have a solid understanding of how to get started with data analysis and how it can benefit your career or business.
Data analytics helps companies store, organize and analyze raw data so they can find trends and patterns that allow them to make better business decisions. As businesses increasingly rely on data to make data driven decisions and gain a competitive edge, understanding data analytics has become a valuable skill for professionals across numerous industries.
There are a number of data analytics tools available, ranging from data mining to data visualization. Below are some of the most popular analytics tools used to collect and analyze data.
Analyzing the target audience enables businesses to pivot their strategy and boost sales. Services or products can be adjusted based on these findings which should help retain current customers or clients and gain new ones. By understanding what is working within the company, businesses can avoid wasteful spending on marketing strategies that don’t deliver results. Additionally, data analytics helps businesses gain more insight into what areas of the company are underperforming so they can choose to make improvements. Similarly, they can view competitors to explore any gaps in their own business model.
Data analysts can spend time analyzing a business’ sales patterns and trends, user and customer behavior, customer satisfaction and more. By finding patterns in both qualitative and quantitative data, data analysts can create and distribute reports to leadership and team members, helping to address company problems and explore strategies that have been successful. One of the most important qualities that data analysts possess is their keen ability to tell a story through data. When providing reports, other members may not understand the research so data analysts can explain why this data is important and how it is impacting the company.
Data analysts pull data through different methods related to their business. For instance, in the healthcare sector data analysts might analyze patient information, patient surveys or clinical trial data. Data analysts that work in a marketing department might use Google Analytics to understand how users are navigating the website. Some other industries that utilize data analytics to make informed business decisions include finance, tech, insurance, retail, education and manufacturing.
JWU’s Bachelor’s Degree in Data Analytics is offered at our Providence Campus, located in the heart of the city. In this program you’ll be introduced to applied statistics, computer science, database design, programming concepts and more. While you’ll gain the skills and knowledge needed to succeed in your career in data analytics from courses taught by our expert faculty, our internships opportunities will give you the experience to gain real-world, hands-on experience.
If you’re interested in expanding your data analytics knowledge after completing your undergraduate degree, learn about our Accelerated Master’s Degree in Data Analytics.