DATA ANALYTICS
The volume of data being generated every moment is simply astounding. And this BIG DATA has the tremendous value in it which can revolutionize the business, if correctly analysed and used to one’s own advantage. This is the era where Data is a strategic asset that can transform your industry in a very short span of time.
Data analytics initiatives can help businesses with the ultimate goal of boosting business performance such as:
- Increase revenues,
- Improve operational efficiency,
- Optimize marketing campaigns and Customer service efforts,
- Respond more quickly to emerging market trends and gain a competitive edge over rivals
Depending on the particular application, the data that's analyzed can consist of either:
- Historical records or
- New information that has been processed for real-time analytics uses.
- Mix of internal systems and external data sources.
Types of data analytics applications
At a high level, data analytics methodologies include Exploratory data analysis (EDA), which aims to find patterns and relationships in data, and Confirmatory data analysis (CDA), which applies statistical techniques to determine whether hypotheses about a data set are true or false.
Scope of Work
Data analytics initiatives support a wide variety of business uses.
- Data Analytics for Any Business: Growth pattern, Forecasting, Operation results, Human resource, Financial result analysis.
- E-commerce companies and marketing services providers do click stream analysis to identify website visitors who are more likely to buy a particular product or service based on navigation and page-viewing patterns.
- Marketing agencies analysis of customer data to forecast churn so they can take steps to prevent defections to business rivals to boost customer relationship management efforts.
- CRM analytics to segment customers for marketing campaigns and equip call center workers with up-to-date information about callers.
- Healthcare organizations patient data to evaluate the effectiveness of treatments for diseases.
- Market research for new product launching and for regional expansion.
- Profit Centres/Branch Business analysis helps to keep control the profit centres.
- Advertising agencies analysis for effective mode of branding and cost effectiveness.
- Hospital and Diagnostic centres analysis of patient and financial data for effective administration and better services.
- Statistical Analysis of Project work/ Research papers/ Phd /Medical thesis.
- Conduct the survey with final results based on client requirement.
- Provide the analysis of results on Job work basis to research agencies involve in finding the effectiveness of new equipment or process.