2021 Trend Almanac: Technologies and trends that will dominate the business and consumer landscape. Get instant access
Data analytics is the process of assessing raw data sets to gather valuable insights to help organizations solve complex business problems. Analyzing big data can create a clear picture of customer habits and behaviors to derive trends and patterns which can streamline operations, improve processes, and create efficient marketing strategies.
Data analytics has been used for business intelligence for a long time. Technology has changed the way organizations work with information imperative to the way they function. For centuries, governing powers have used census data to plan cities and maneuver populations. In 1890,to help the US census crunch data fast, Herman Hollerith (the founding father of IBM) invented the tabulating machine which processed data records onto punch cards. A century later, Relational Databases (RDBM)s emerged which provided users the ability to write Structured Query Language (SQL) and analyze data on demand. Next came the Internet and the development of data warehouses, which stores presently used data and historical data.
Organizations uses data analytics in four different ways:
Organizations can use data analytics to: