Methods Of Using Data Relationships And Computer Models

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Analytics is the process of using data relationships and computer models to drive business value, improve decision making and understand human relationships. If the Information Age began in the 1990s with the rise of digital technology, then we’ve now officially entered the Age of Big Data, wherein companies like Google, Facebook, IBM, Teradata, Oracle, and SAS have the capacity to gather a lifetime’s worth of data about customers and their behavior. But that data is just an incomprehensible pile of numbers until a skilled analyst turns those numbers into meaningful information, useful for making intelligent business decisions. Today, companies are searching for experts in data analytics who have high-formed business and technology backgrounds, and who understand the importance of the latest data and Information Age trends. This requires more than simple data analysis. Prescriptive analytics focuses on trends using simulation and optimization, while predictive analytics uses statistical tools to predict the future, and descriptive analytics is concerned with enabling smart decisions based on data. Data miners and data analytics experts who are versatile in all three areas of analytics can help corporate executives translate their data into intelligent information, which provides companies a competitive advantage and increases their bottom lines. Analytics have made their presence felt in every industry, but they have a major role to play in the sports industry and many teams
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