Decoding Healthcare Data: The Impact of Data Analytics
Data Analytics FAQ
What is data analysis?
In fact, data analysis is a subcategory of data analytics that deals specifically with extracting meaning from data. Data analytics, as a whole, includes processes beyond analysis, including data science (using data to theorize and forecast) and data engineering (building data systems).
Is data analytics the same as data analysis?
Data analytics is often confused with data analysis. While these are related terms, they aren’t exactly the same. In fact, data analysis is a subcategory of data analytics that deals specifically with extracting meaning from data.
Why is data analytics important?
Data analytics is important because it helps businesses optimize their performances. Implementing it into the business model means companies can help reduce costs by identifying more efficient ways of doing business and by storing large amounts of data.
What are the different types of data analytics?
Data analytics is broken down into four basic types. Descriptive analytics describes what has happened over a given period. Diagnostic analytics focuses more on why something happened. Predictive analytics moves to what is likely going to happen in the near term. Finally, prescriptive analytics suggests a course of action.
What is data analytics?
Data analytics is the process of analyzing raw data in order to draw out meaningful, actionable insights. Learn more in this complete introductory guide.
What is descriptive analytics & how does it work?
The two main techniques used in descriptive analytics are data aggregation and data mining—so, the data analyst first gathers the data and presents it in a summarized format (that’s the aggregation part) and then “mines” the data to discover patterns.
What is data analytics & why is it important?
Most companies are collecting loads of data all the time—but, in its raw form, this data doesn’t really mean anything. This is where data analytics comes in. Data analytics is the process of analyzing raw data in order to draw out meaningful, actionable insights, which are then used to inform and drive smart business decisions.
Data Analytics References
If you want to know more about Data Analytics, consider exploring links below:
What Is Data Analytics
- https://www.investopedia.com/terms/d/data-analytics.asp
- https://careerfoundry.com/en/blog/data-analytics/what-is-data-analytics/
- https://www.coursera.org/articles/data-analytics
- https://www.datacamp.com/blog/what-is-data-analysis-expert-guide
- https://builtin.com/data-science/data-analytics
- https://www.youtube.com/watch?v=yZvFH7B6gKI
- https://www.gartner.com/en/topics/data-and-analytics
- https://www.towardsanalytic.com/what-is-data-analytics/