Analytics is the invention, intervention, and communication of meaningful patterns in data. Analytics involves applying data patterns toward important decisions. Analytics is also defined as the connection between data and important decisions making within an organisation… Analytics uses the application of computer science to find the hidden pattern in data and discover new knowledge based on applied mathematics, Artificial Intelligence, Machine Learning and Predictive analytics.
With faster and more advanced computers, the opportunity around us uses analytics and artificial intelligence. Whether it is determining credit risk, developing and inventing new technology, developing a new medicine, finding an efficient method of delivering products, preventing frauds, predicting the most valuable customer, analytics helps to understand what leads to business success.
The recent development in technology has increased the potential and the opportunity of analytics. Reliable data, strong and better storage options, stronger computational power, advance computation and processing made it easy to apply analytic in every field. The pressure of technology and analytics is striking us and data overload is not limited to the number of people within the organisation. As a result, the business organisation is continuously looking for ways to make analytics easily available to more users.