Data analysis: the key to making effective decisions
Posted: Mon Jan 06, 2025 4:40 am
Data, data everywhere . In the news about scandals because this social network here or that one over there has sold the data of its users without their consent. In the studies that talk about how the future will be marked by data analysis . And if the future consists of this, how could you not want to have it in your company too?
And when it comes to data analysis, its multiple uses could not be more scalable and adaptable to systems of all possible sizes. From micro to macro. A city council can take advantage of data on the use of public space to predict greater or lesser traffic, for example. But a company can also (and should) benefit from this type of analysis and all the improvements it can implement in the business.
That's why this article is not only intended to familiarize you with data analysis, but also to show you that it can be the ultimate business tool for making effective decisions.
How can data analysis help you?
Let’s start at the beginning: what do we mean by data analysis? Essentially, it’s the collection of diverse data that is cleaned and analyzed to be converted into information . This is how this australia number data analytics can help you: by giving you information that can help you optimize business decisions.
Let's take a basic example: an analysis of the usual data from a warehouse can ensure that you always have a star product in stock. Another example: an analysis that takes into account the consumption habits of your customers can anticipate needs in the longer or shorter term.
And this is just the beginning of a revolution that, in line with the big data that is so much talked about lately (and which is the basis for optimising the world around us), data analysis will help to anticipate future behaviour. We are on the threshold of the implementation of intelligent algorithms that learn by themselves and that introduce us to new analytical patterns that are increasingly effective.
When is it effective?
But be careful, because data analysis is not effective in absolutely all existing companies. It all depends, of course, on the nature of each business. This means that, before launching your company into data analysis following the current trend, you need to ask yourself: will it really contribute something to my business?
If data analysis is simply about understanding the past and keeping a historical record, it's probably not worth the effort. Analytics are only relevant when the information generated means profit. Then it's time to pay attention, because data analysis trends move fast and your business shouldn't be left behind.
A predictive model
Getting to know our customers better, detecting potential dangers to our business, predicting imminent behaviour that we can take advantage of... It is clear that the objective of all data analysis should be one and only one: to serve as the basis for a predictive model from which our company can benefit.
IDC (one of the world's leading research companies) predicts that the big data market will grow by 23% in 2019. This growth will be driven by a large investment in data analytics infrastructure services, specifically in software.
But don't be intimidated by global data, because what interests your company here and now are the possibilities of applying this macro-model of data analytics within a smaller context such as your business. It's the ideal time to start walking down the path of analytics... And so, when things finally explode, you won't be caught off guard.
And when it comes to data analysis, its multiple uses could not be more scalable and adaptable to systems of all possible sizes. From micro to macro. A city council can take advantage of data on the use of public space to predict greater or lesser traffic, for example. But a company can also (and should) benefit from this type of analysis and all the improvements it can implement in the business.
That's why this article is not only intended to familiarize you with data analysis, but also to show you that it can be the ultimate business tool for making effective decisions.
How can data analysis help you?
Let’s start at the beginning: what do we mean by data analysis? Essentially, it’s the collection of diverse data that is cleaned and analyzed to be converted into information . This is how this australia number data analytics can help you: by giving you information that can help you optimize business decisions.
Let's take a basic example: an analysis of the usual data from a warehouse can ensure that you always have a star product in stock. Another example: an analysis that takes into account the consumption habits of your customers can anticipate needs in the longer or shorter term.
And this is just the beginning of a revolution that, in line with the big data that is so much talked about lately (and which is the basis for optimising the world around us), data analysis will help to anticipate future behaviour. We are on the threshold of the implementation of intelligent algorithms that learn by themselves and that introduce us to new analytical patterns that are increasingly effective.
When is it effective?
But be careful, because data analysis is not effective in absolutely all existing companies. It all depends, of course, on the nature of each business. This means that, before launching your company into data analysis following the current trend, you need to ask yourself: will it really contribute something to my business?
If data analysis is simply about understanding the past and keeping a historical record, it's probably not worth the effort. Analytics are only relevant when the information generated means profit. Then it's time to pay attention, because data analysis trends move fast and your business shouldn't be left behind.
A predictive model
Getting to know our customers better, detecting potential dangers to our business, predicting imminent behaviour that we can take advantage of... It is clear that the objective of all data analysis should be one and only one: to serve as the basis for a predictive model from which our company can benefit.
IDC (one of the world's leading research companies) predicts that the big data market will grow by 23% in 2019. This growth will be driven by a large investment in data analytics infrastructure services, specifically in software.
But don't be intimidated by global data, because what interests your company here and now are the possibilities of applying this macro-model of data analytics within a smaller context such as your business. It's the ideal time to start walking down the path of analytics... And so, when things finally explode, you won't be caught off guard.