(14) What do you understand by term ‘Data Analytics ’?
Answer:
- Data Analytics is the process of examining data sets to draw conclusions about the information they contain.
- Data Analytics is done with the aid of specialized systems and software.
- Data analytics technologies and techniques are widely used in commercial industries to enable organizations to make more-informed business decisions.
- Data Analytics initiatives can help businesses with following advantages:
§ rise
in revenues,
§ improve
operational efficiency,
§ improve
marketing campaigns,
§ improve
customer services,
§ act
more rapidly to emerging market trends and gain a competitive edge over rivals.