Analytics Talk of the Town

What's ANALYTICS all about? 

In my opinion it's fetching the information and performing computational study using statistics to unfold the hidden patterns within it. 
So everyone is talking about Analytics is it hot air or there is something substantial about it. Well I'm sure what it is, and at the end of the article you would be too. 

Data is ubiquitous and finding information from it s like looking through a dense forest.  Every person on an average generates today some amount of data. There are more than 7 billion users who use internet, around 2.5 Quintilian data is generated on daily basis.
Over last two years 90% of the world data was generated.Google processes around 40000 searches per second. As per the Domo's Data Never Sleeps 5.0 Report following numbers would surprise you. 

Snapchat  527,760 users share photos
YouTube   4,146,600 videos watched
Twitter     456,000 tweets sent
Netflix      69,444 hrs of videos streamed
Facebook 2 billion users

These are only few names listed above similarly there are thousands of such platforms millions of devices and billions of users who are daily generating data. Now when we are convinced that there is data everywhere, the question arises what needs to be done with all this data. A data gives you information when its put in context and with this information you can gain knowledge and devise strategies and make decisions. Let us understand what Google says about analytics "information resulting from the systematic analysis of data or statistics". Data Analytics and Data Analysis are interchangeably used terms. For a retail chain analytics could be done to identify the future product consumption in a bank analytics could be done to identify customer behaviour in a product based company analytics could be done to identify a potential market in a life science industry analytics could be done to  simulate clinical trials, similarly there are number of cases and places where analytics could be applied.  
Analytics can be seen as an umbrella which has Data Visualisation, Big Data and Machine learning under it. Through Analytics you can answer your business questions like
What's your current business status?
What's it's future?
What are the recommendations?
Answers to the above questions would help your business save and make money. Based on this we Analytics can be classified as 
Descriptive
Predictive
Prescriptive
Now what tools to consume depends completely on what's your problem statement and what's your budget. 
Decision based on a fact is better than intuitive one

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