Whether you are looking for a change or advancement in your career in technology, here is the answer. Data Analytics is now known as the hottest job of the 21st century.
What is Data Analytics?
Data Analytics is a blend of data inference, algorithms, and technology advancement with an aim to solve complex analytical problems. Here, Data is at the core. Loads of raw information get generated and are stored in data warehouses which then get transformed into a meaningful set of data. Ultimately, the aim of Data Analytics is to perform processes on this DataData to gain insights and generate high business value. It is all about understanding complex trends and behavior from these insights and then use them to generate quick and smart business decisions.
Uses of Data Analytics
Data Analytics became popular because of its ability to tackle a large amount of data. The uses of Data Analytics are expanding, and it is being used in many domains. Let’s dig deeper and see where DataData is being used.
Customer Behavior:Existing data like customer buying history, age, and income can help a business to understand the requirements of their customer.
Decision making:The extraction of insights helps the organization to make faster and smarter business decisions.
Weather forecast:The term ‘predictive analysis’ is used in Data Analytics as in the case of weather forecasting, where the Data is analyzed to predict the occurrence of natural calamities.
Mental health:Data Analytics helps in the early detection of diseases and could save the lives of many, which is a new capability.
Credit scores: Many banks use machine learning algorithms to analyze and make better lending decisions, to detect fraud, and to widen their customer base with more information available to them about their customers.
Gaming: The use of Data Analytics has spread to gaming applications. From using machine learning algorithms to artificial intelligence, it has increased the ability to challenge game scenarios in the competitive world.
Image Recognition: Data Analytics has come a long way in examining large sets of data to perform face recognition and speech recognition.
Scope of Data Analytics
Backed by big data and artificial intelligence, the demand for Data Analytics is growing dramatically. The supply is, however, witnessing a slower pace, according to job sites. It’s the right time to choose a career in Data Analytics and enter the job market. This field is viewed as one of the top growing fields in technology, analytics, and finance.
The rise in the demand for Machine Learning and Artificial Intelligence may also be a factor in the increasing demand for Data Analytics. It’s no surprise that, due to the high demand for data professionals, the salaries for the position are on the increase.