Hi everyone, I hope you all have already started your Christmas shopping. Studies show that about 40% of all Christmas shoppers will be at the stores on Christmas Eve. That can get hectic depending on where you are located. Instead, consider utilizing the data that I’ve just presented to you and make an informed decision, do your Christmas shopping a little earlier. Maybe even during a week day after work. Guess what, we just used data analytics to help make a decision!
Data analytics is the science of drawing insights from raw information sources. Many of the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption. Once the data has been taken from its raw state and turned into meaningful information, we can make better decisions. Whether on behalf of a company or just for personal shopping trends, data analytics can inform you and help you make the best decision given a circumstance.
I first discovered data analytics in school and quickly saw a huge potential for it. Shortly after I first heard about data analytics and Big Data, I got a job with a sports statistics company based out of the Virginia area and quickly found a love for sports statistics. It was the ultimate dream job, I got to combine my knowledge in math and computers with my love for sports, not to mention I got a front seat view at every game! Not only did we collect the stats at each game, but we also ran and compiled the raw stats to generate useful data for coaches to evaluate and make coaching decisions. Sports Data Analytics can visualize more than just the box score of the game (points, rebounds, assists, fouls, etc.) it can also give us a view at the more intricate parts of the game, like how many times a team ran a specific play, or which group of players is most effective on the floor together. Having information like this while preparing for an opponent can make a huge difference in wins and losses. Sports Data Analytics can really help us make great coaching decisions, but Data Analytics can do so much more beyond the realm of sport. Data driven decisions are also made in the workforce on a day to day basis.
Many businesses also use data analytics to make big decisions such as acquiring a smaller company, purchasing a product, the list goes on. But as data analytics and big data continue to show how invaluable it is for decision making, more and more companies are hiring people that know how to manipulate such data. If big data or data analytics is something you are interested in, feel free to reach out for more information or start researching some internships and programs that cover data analytics.
Thanks for stopping by for another Macademics, until next time!
- The Analyst
Source: https://www.investopedia.com/terms/d/data-analytics.asp
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