Have you ever wondered why you see so many ads relating to your previous searches pop-up time and again when you are using free apps? What’s the secret? How does your smartphone or computer know or remember where you had been? This is where Analytics and Data Science comes in.
It helps the customer get a better experience by understanding and improving website measurement capabilities. It is a pure statistic-based science that reads data trends and predicts future demand for a product or service.
These are done in three steps.
(1) Collect all the data fed by the customer.
(2) Apply analytics.
(3) Interpret insights.
What is a Data?
It is the user information obtained about one’s behaviour, taste, culture, demographic information, activity etc. This information is stored in redundant, high availability servers or remote cloud web servers all over the world. There so much of data out there that it is extremely difficult and sometimes overwhelming to make any sense of it. It is like a data garbage dump.
Why Would Anyone Want to Collect Data?
Don’t they have anything better to do? This is where analytics come in. Analytics is a science or algorithm used to make sense of all the collected data. Analytics locate a trend in the user’s website hits. The collected data is churned to get trends that make logical sense. Without analytics, all the data collected is as good as garbage. It is the science of making sense of all the information dumped.
What Do We Do With All These Established Trends?
This is where insights fall in. It is the science of seeing the value and establishing trends by analytics. There is tremendous demand and value in analytics. Business and apps see great potential and value in this predictive analysis. Insights provide invaluable information that can be used by business to target customers or enhance customer experience. They help businesses in making decisions based on the trends. It is a high- level business decision concept. Ideas are churned here.
Why Do Businesses Need These Trends?
These trends are valuable for businesses. With the value mined from these established trends, businesses can predict profits and losses or take remedial measures. There will come a time where quantum computing will leap, and business models will go hand in hand with Analytics and Insights. Analytics and Insights are the future of global business Models.
Technology and innovation are growing at an explosive pace. They are spreading their tentacles in every field, be it marketing, hospitality, travel, personalized products and much more. No industry is left behind. Analytics, also known as predictive science is digging deep into every field, collecting data on every web hit. This data is collected, studied and a trend is established. It is then pushed back to the end user gently, by providing him with a better experience.
Data hit collection and cloud storage play a key role here. Every data search done by a web surfer is categorized and put in its respective servers. These hits are then retrieved and studied carefully by data analytics. who predict future similar hits or create an interest list for such a web surfer. His data is analyzed and personalized locally and culturally. Data architects and engineers then cater each surfer with similar data in the future to provide an engaging and satisfying experience.
Business solutions are leveraged through analytics and Insights. Business experience is enhanced and accelerated through digital efforts that cater to high customer satisfaction. They build a cultural brand through diversity and a global understanding of the clients both locally and globally. Analytics and insights in tandem transform businesses to achieve digital immortality. No wonder all businesses are running after these trends and insights. Everyone wants to join the ride.