Analytics is the scientific process of transforming data into insight for better decisions. Analytics delves into data to recognize patterns that can help organizations make more informed decisions. Organizations today are sitting on a huge amount of data. Analytics helps to dig into this data to find patterns, insights, or trends that are not usually recognized otherwise. This data mining leads to number crunching and, finally, predication’s and even recommendations. Today, technology has advanced, and we now have various tools and methods with which to analyze data that has increased the significance of analytics in organizations. Analytics has virtually changed the way businesses have been run traditionally. Gone are the days when most business insights used to come through gut feelings or the intuition of experienced managers. Today, analytics provides tangible information on which managers and executives can rely in order to make informed decisions.
