Data Analytics refers to the use of statistical and computational methods to enable and empower business decisions. It involves rigorous statistical analysis of data, including data captured from people, documents and other sources, in addition to computer databases.
A typical data analytics solution will involve phases of investigation, discovery, understanding, refinement, delivery and formatting of information present in data. These phases will usually be employed within an iterative process.
A well-defined data analytics project is known typically to provide a return on investment in excess of 10:1 on the investment in analytic resources.
Data analytics can be used by forward thinking companies in the areas of operations, marketing, product design, and risk.
