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Cinto, Shaimer Assignment

Data analytics is the process of examining data sets to draw conclusions and insights. It is widely used in business to improve decision making, increase revenues, optimize operations and gain competitive advantages. Data analytics can analyze both historical and real-time internal and external data to support a variety of uses like fraud detection, marketing campaign optimization, customer churn prediction and healthcare treatment effectiveness evaluation.

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Shaimer Cinto
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48 views1 page

Cinto, Shaimer Assignment

Data analytics is the process of examining data sets to draw conclusions and insights. It is widely used in business to improve decision making, increase revenues, optimize operations and gain competitive advantages. Data analytics can analyze both historical and real-time internal and external data to support a variety of uses like fraud detection, marketing campaign optimization, customer churn prediction and healthcare treatment effectiveness evaluation.

Uploaded by

Shaimer Cinto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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How Data Analytics are used?

Data analytics (DA) is the process of examining data sets in order to draw
conclusions about the information they contain, increasingly with the aid of specialized
systems and software. Data analytics technologies and techniques are widely used in
commercial industries to enable organizations to make more-informed business
decisions and by scientists and researchers to verify or disprove scientific models,
theories and hypotheses.
Data analytics initiatives can help businesses increase revenues, improve
operational efficiency, optimize marketing campaigns and customer service efforts,
respond more quickly to emerging market trends and gain a competitive edge over
rivals -- all with the ultimate goal of boosting business performance. Depending on the
particular application, the data that's analyzed can consist of either historical records or
new information that has been processed for real-time analytics uses. In addition, it can
come from a mix of internal systems and external data sources.
Data analytics initiatives support a wide variety of business uses. For example, banks
and credit card companies analyze withdrawal and spending patterns to prevent fraud
and identity theft. E-commerce companies and marketing services providers do
clickstream analysis to identify website visitors who are more likely to buy a particular
product or service based on navigation and page-viewing patterns. Mobile network
operators examine customer data to forecast churn so they can take steps to prevent
defections to business rivals; to boost customer relationship management efforts, they
and other companies also engage in CRM analytics to segment customers for
marketing campaigns and equip call center workers with up-to-date information about
callers. Healthcare organizations mine patient data to evaluate the effectiveness of
treatments for cancer and other diseases

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