Data Analytics

In any kind of business, especially for IT firms, data plays a key role. Unisolvers’ Data Analysts play a key role in analyzing the raw data to find patterns, trends and answer unsolved business mysteries. The data also plays a key role in gauging if the growth pattern of businesses is steady or if there is a necessity to make alterations in the strategy.

The process of data analytics is a complex and critical one. This involved analyzing a variety of components that can be combined together to give a broader picture of where the business stands and what should be the next steps.

There are different types of data analytics:

• Descriptive Analytics: This type of analytics helps answer the what’s of any pattern. This technique helps summarize large amounts of data and stakeholders describe outcomes. The KPIs help us track the successes and failures when compared with the data. This process requires collection of data, processing of data, data analysis and visualization.
• Diagnostic Analysis: This type of analytics helps answer the why’s of any pattern. They are descriptive in nature and can be used to dig deeper to find the root cause of any problem. The KPIs are discussed and investigated further to stabilize the growth.
• Predictive Analytics: This step of Analytics makes the study of data even more interesting. This helps in determining what will happen in the future. This technique uses comparison with old data to identify trends and determine if they could repeat. This is an useful tool to forecast any damage or failure that would, otherwise, have been overlooked.
• Prescriptive Analysis: Once the trends have been determined or situations forecasted, this method of analysis is used to suggest solutions and overcome certain situations.