Analytics
is....
A process of obtaining optimal decision based on data and logic. It is
the science and art of reading stories hidden in numbers. These empower
consumers and businesses in making intelligent and better decisions.
Analytics is applicable in every walk of life.
Decision to buy a car or flat
Quarterly or yearly revenue forecasts
Customer profiling before a product launch
Used across verticals ranging from retail and financial services
to clinical research and data management
Analytics is about studying data using statistical
analysis in order to arrive at a conclusion and understand the rhythm of
the pattern with an eye to predict and improve business performance.
Analytics has evolved with the development of
Enterprise Resource Planning (ERP) systems, warehouses, and a wide
variety of other hardware and software tools and applications. However,
it would be erroneous to limit analytics to only statistics and
mathematics.
Knowledge of analytics provides a significant source
of competitive advantage for professionals in all industries and
functions .