Predictive Analytics and Data Science is a new spin on already existing topics. It’s a combination of business analytics, operations research, business intelligence, competitive intelligence, data analysis and modelling and knowledge extraction.
Combine all the above with knowledge of how to use the latest statistical techniques and code and you have a pretty good working definition of what Data Analytics and Data Science is.
What can I do with it?
Previously all of the analysis tools would have been available only to large corporations. With changes in software and hardware, more data is now collected inexpensively by nearly all organisations. Combine this with the lower cost of the tools of the trade means that small business, internal organisations, nonprofits and individuals can use the latest data analytic techniques to discover new opportunities, increase profits and improve services.
The main barrier is just learning it.
Who can learn this?
The pathway we will show you can guide someone from basic computer knowledge right up to junior data analyst. If you have never coded before or your mathematics are rusty we have additional pathways on how you can get up to speed with those too. Cloud Accounting can show you how to productively use data analytics in your job or business.
What are some examples of people who would use data analytics?
These are just some possible examples, the items covered by data analytics can be used in a wide variety of fields:
Research and analysis campaigns. See trends and discover patterns in the marketing data from Facebook, Twitter and e-mail.
Used to predict and forecast new markets. Calculate and discover patterns in the costs of an organisation. Investigate new market opportunities among existing customer data.
Program Managers and Developers
Use data science in the development process and as a part of a product. See the efficiencies and bottlenecks in a team. Discover ways to improve the team management process. Create new ideas for product features from patterns and usage data of existing products.
Improve the supply chain of the company. Manage inventory and improve the process of stock management and purchasing. Measure the performance of different tasks and calculate the resulting costs due to changing conditions.
Business Owners and ENTREPRENEURS
Use data science to discover new opportunities in the market. Build data-driven products that use data gathering and analysis to provide value to a customer.