The Amazing Field of Analytics?
Encompassing the field of Mathematics, Statistics, Business, Computing and Machines is the Field of Analytics. Analytics brings the world of Maths and Computing to create the amazing world of prediction for Businesses. Analytics gives the businesses the tool make an informed decision based on data and expectations and not based on gut feelings.
According to the International Institute for Analytics (IIA), the world will create 180 zettabytes of data (or 180 trillion gigabytes) in 2025, up from less than 10 zettabytes in 2015. This momentous growth of data is driving the the industrial revolution, which many experts have coined as the “Fourth Industrial Revolution”. Driven by the New Age super Heroes ” Data Analysts”, “Data Scientists” and “Analytics Developers” , Analytics is at the heart of this Industrial Revolution.
Analytics is the process of collecting, processing, analyzing, interpreting, infering and predicting from the data to derive insights. Such is the field of Analytics that it has become a new stream in the world of knowledge and is popularly known as Data Science and has become and instrument being used by businesses to enable insightful business decisions and an accurate study of the impact of such decisions.
Why is analytics important?
Analytics provides the tool for the businesses to explore the horizon beyond the conventional domain. Data has become a prized commodity for any organization. Adjusting and adapting to the world of ever growing data is now not an option for the organizations, but data is as good as the Analytics that follows it.
We can safely call Analytics the building block for the New age technologies. At the heart of the Machine Learning and Artificial Intelligence lies the field of Analytics. As per LinkedIn the requirements for Analytics professionals is expected to grow by more than 1 Million.