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Data scientist are the Milestone in Industries

Updated on July 30, 2016

Introduction to Data Analytics

we are the major recipient of analytics in day to day life.so where is analytics used, you ask.well, where not? Whether it’s at the movies, on the sports field,when deciding which accessories go best with which laptop, figuring out what TV show you should be downloading next, when choosing your country’s next Prime Minister or even when finding Love online.
All of these activities today, are aided and have been made more efficient by the use of
analytics.

Classification of Analytics:-

Analytics is classified on he basis of the industry it is applied to,hence you will hear terms such as insurance analytics, retail analytics ,web analytics and so on.

classification of analytics based on Business functions impact on

* Marketing Analytics

* Sales and HR Analytics.

* Supply chain Analytics and so on.

There are certain industries which have always created huge amount of data like Credit
cards and consumer goods. These industries were among the first ones to adopt analytics.

Example of industries that make extensive
use of analytics are:

• Credit Cards
• Insurance
• Retail etc.

The three major Analytical tools to define a Bsuiness are

1. Descriptive Analytics : It elaborately defines the Problem and describes it.

2.predictive Analytics : it predicts the future of the business using the current data and Historical data.

3.Prescriptive Analytics:- It predicts the future of the business and prescribe the solution to overcome the issues in the Business.


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