every business needs a data analytics to get a detailed value of cost and profits. we will study the importance in detail in this particular presentation.

1. IMPORTANCE OF DATA
ANALYTICS FOR BUSINESS

2. WHAT IS DATA ANALYTICS
Fundamentally, Data Analytics or DA is examining raw facts & figures
to get valuable information from it.
Currently, it is being employed with the help of Big Data in the major
industries. Big Data concept has been around for quite some time
now and most of the organizations have realized that if they can
capture all the data into the business, they can easily apply the
analytics and gain important value from them. Even when the term
“big data” was not used, businesses used the basic analytics to
uncover the tends and the insights.
https://brandlitic.com/importance-of-data-analytics-for-
business/

3. WHY A BUSINESS NEEDS DATA
ANALYTICS?
Data is increasing at a rapid speed and the rate of growth of
information is very high. Data generation occurs through many users,
industries, and businesses. It is crucial to amalgamate this data that
have been generated through the business. If it gets wasted, lots of
valuable information will be lost.
Previously, skilled analysts were required for processing the data but
these days there are tools used for high-speed data and this helps in
incorporating the data analytics at the time of making decisions
https://brandlitic.com/importance-of-data-analytics-for-
business/

4. IMPORTANCE OF DATA ANALYTICS FOR
BUSINESSES
Improving Efficiency
All the data collected by the business is not only related to the individuals
external to the organization. Most of the data collected by the businesses are
analyzed internally.
Market Understanding
With the development of algorithms nowadays, huge datasets can be collated
and analyzed. This process of analysis is called Mining. Regarding the other
kinds of physical resources, data collection is done in raw form and thereafter
refined.
Industry Knowledge
Industry knowledge can be comprehended and it can show how a business
can run in the near future. Also, it can tell you what kind of economy is
already available for business expansion purpose.
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business/

5. Cost Reduction
Big data technologies like cloud-based analytics and Hadoop can bring huge
cost advantages if it relates to storage of large data. They can also identify
the efficient ways to do business.
Faster and Better Decision-Making
The high-speed in-memory analytics and Hadoop in combination with the
ability for analyzing the new data sources, businesses can analyze the
information almost instantly.
New Products/Services
With the power of Data Analytics, the needs and satisfaction of the
customers are met in a better way. This helps one to make sure that the
product/service aligns with the values of the target audience.
https://brandlitic.com/importance-of-data-analytics-for-
business/

6. CONCLUSION
Importance of Data Analytics is truly changing the world. Whether it is
the sports, the business field, or just the day-to-day activities of the
human life, data analytics have changed the way people used to act.
It now, not plays a major role in business, but too, is used in
developing artificial intelligence, track diseases, understand consumer
behavior and mark the weaknesses of the opponent contenders in
sports or politics. This is the new age of data and it has unlimited
potential.
https://brandlitic.com/importance-of-data-analytics-for-
business/

7. THANK YOU