why you need to analyze data Benefits Concept

Benefits of Data Analytics

Posted by on Jan 21, 2019 in business, Data, LocationForms
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benefits of data analytics

Data analysis is a process of examining, inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and support decision-making, increasingly with the aid of specialized systems and software.

 

Why We Need to Analyze Data

  1. We need to analyze data in order to make the best out of information.
  2. To improve efficiency and flexibility in business.
  1. To help make better decisions.

 

Techniques/How to Analyze Data

how to analyze data

  1. Define Objectives: Any study must begin with a set of clearly defined business objectives.
  2. Pose Questions: To ask a question in the problem domain is very important.
  3. Collect Data: Data relevant to the question must be collected from the appropriate sources. When data is being collected using surveys, a questionnaire to be presented to the subjects is needed.
  4. Data Wrangling: Raw data may be collected in several different formats. The collected data must be cleaned and converted so that data analysis tools can import it.
  5. Data Analysis: This is the step where the cleaned and aggregated data is imported into analysis tools. These tools allow you to explore the data, find patterns in it, and ask and answer what-if questions.
  6. Drawing Conclusions and Making Predictions: This is the step where, after sufficient analysis, conclusions can be drawn from the data and appropriate predictions can be made. These conclusions and predictions may then be summarized in a report delivered to end-users.

 

Benefits of data analytics

benefits of data analysis

  1. Understanding of customers proactive and anticipating needs.
  2. It helps in delivering relevant products.
  3. Personalization, professionalization and service.
  4. Clearer foresight.
  5. Optimizing and improving operational efficiency.
  6. Increasing awareness of risk and fraud.
  7. Provides up-to-date information.
  8. Interactive sessions.
  9. Reduces costs and increase profits.

At LocationForms we provide you with effective and timely means of receiving all kinds of information remotely from anywhere in the world.

LocationForms is a mobile and webapp base platform designed specifically to gather location based information from the public. Information received through this platform is presented in an easily analyzable format and of maximum security with no external access. Click here to know all about LocationForms.

 

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