preview

Data Analytics And An Organization

Better Essays
Every organization, be it a booming corporation, a start up non-profit, or even a national football league team, is comprised of a plethora of data. Although data has always been important to an organization, now more than ever it has become a critical part of their performance. With continuously advancing technology becoming available for companies to use, the amount of data accessible can seem almost endless. Figuring out how to manage this data, along with what to do with it can be a daunting challenge. This is where data analytics comes in. By simple definition, data analytics is the science of using the raw data collected to come to conclusions to make, hopefully, successful business decisions. There are many different facets of data analytics, and each facet can be uniquely important to an organization’s needs. Most data collected can be divided into one of three subgroups that each build upon the previous: descriptive, predictive, and prescriptive.

Descriptive analytics is the most general and surface level part of data analytics. The results tend to answer some of the basic underlying questions of an organization such as “Who are my customers? What is their lifestyle? What do they like?”. This type of analytics is the most commonly used because it is the simplest way to help explain the causes of the data set. Organizations and companies can use descriptive analytics to identify trends in their customer base and the markets in which they operate in.
Get Access