Top Reasons to Learn Data Analytics!
The wonderful world of Data is not limited to I.T. professionals anymore, and in fact, almost everyone is impacted by the need for analyzing data in some way, just in their normal daily jobs and activities. Learning the core principles behind data analytics today is much like learning business principles was a decade or two ago.
Fortunately, it’s fairly easy to acquire at least some rudimentary knowledge and skills regarding data analytics, and when you have the opportunity, you should jump at it, because those skills will surely serve you well in your future. Here are some reasons why you should take advantage of such opportunities.
Why do you need Data Analytics?
Anytime business decisions need to be made, they will invariably depend largely on understanding data that has been procured by that business. Anyone who is active in the field of engineering, business intelligence, scientific research, security, or politics would be somewhat in the dark without the insights gained from collecting and analyzing data.
Millions of devices around the world collect data generated by billions of events, some of which include credit card transactions, activity on computers, and possibly even sensors installed in motor vehicles. All this data tells a story, but that story can’t really be understood without sound data analysis. That’s where data analytics comes in, and it’s the job of an analyst to capture this data and manipulate it until useful information can be gained from it. Here are a few real-life applications which data analysis can provide keen insights into:
- Identifying patterns and predicting future events with regard to financial markets
- Integrating online data with various operations in the real world such as augmented reality
- Understanding where bottlenecks can occur in business processes, and relieving these issues
- Blocking suspicious behaviour on computer networks
- Discovering drug interactions with specific types of biological pathogens
This shortlist of applications just scratches the surface of possibilities that can come under the microscope of data analytics. The truth is, most of the possibilities which are within the realm of data analytics haven’t yet even been envisioned yet – that will undoubtedly occur in the coming years.
How Data Analytics impacts everyone, literally everyone!
There is an enormous amount of data that is publicly accessible to help you in your everyday life. For instance, if you’re just starting out on a career path, you may want to make use of some available government data such as from the US Bureau of Labor Statistics. Anyone who is considering asking the boss for a salary increase might be better equipped with some geo-specific salary information relative to your area of the country. If you’re about to enter the housing market, you may want to make use of data on availability and prices.
There is public data that can supply information to help with all these applications and many more besides. There are always endless streams of data available for people to make use of. Whether you’re interested in a personal or a professional level, you will undoubtedly be better equipped to make a decision after you have assimilated the relevant data and come to your own conclusions. Keep in mind that whether you use this data or not, your competitors probably will be making use of it, and if so, they’ll get a leg up on you for whatever the objective is.
Learning to use data analytics and the tools which make it more accessible, can be a huge help to your personal and professional growth. Anyone who has mastered this process will be a much more crucial employee, and that can increase your value to the company you work at. If you’re a big sports fan, you are almost certainly aware of the impact that data and data analysis has had on all the major sports.
Many sports teams will tailor their strategies for any given competition based on available statistics and patterns which have developed over the years. For instance, when you’re considering the likelihood of success when attempting a 50-yard field goal in football, it will be worthwhile to make use of statistics showing the percentages of success. When you’re pitching to a batter who has a .300 batting average with the bases loaded, how should you pitch to him?
In basketball, should you force certain players to shoot from 3-point range, or are they likely to score consistently from that distance and make your problems worse? The development of analytical technology in recent years has brought this kind of decision-making to an entirely new level. Most teams and most managers of professional sports teams rely heavily on available data before making their next move. This makes great sense of course since it indicates the likelihood of any particular outcome on any event.
The examples above are just a few of the many ways that data and data analytics have a big impact on our daily lives. All of them are powerful persuasions for you to acquire at least the basic skills necessary to collect and analyze data yourself – which will undoubtedly increase your appreciation of how the world functions around you.