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Data Analytics

Data analytics is the process of exploring and analyzing large datasets to derive meaningful insights and make predictions to boost decision making, with applications in banking, healthcare, logistics, marketing, and city planning; it involves collecting, preparing, exploring, modeling, and interpreting data using Python libraries like NumPy, Pandas, Matplotlib, SciPy, and Scikit-Learn.

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Vivek Munjayasra
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104 views5 pages

Data Analytics

Data analytics is the process of exploring and analyzing large datasets to derive meaningful insights and make predictions to boost decision making, with applications in banking, healthcare, logistics, marketing, and city planning; it involves collecting, preparing, exploring, modeling, and interpreting data using Python libraries like NumPy, Pandas, Matplotlib, SciPy, and Scikit-Learn.

Uploaded by

Vivek Munjayasra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What is Data Analytics?

Data analytics is the process of exploring and analyzing large datasets to make
predictions and boost data-driven decision making. Data analytics allows us to
collect, clean, and transform data to derive meaningful insights. It helps to answer
questions, test hypotheses, or disprove theories. 

Let’s understand the various applications of data analytics.

Applications of Data Analytics

Data analytics is used in most sectors of businesses. Here are some primary areas
where data analytics does its magic:

1. Data analytics is used in the banking and e-commerce industries to detect


fraudulent transactions.

2. The healthcare sector uses data analytics to improve patient health by


detecting diseases before they happen. It is commonly used for cancer
detection.

3. Data analytics finds its usage in inventory management to keep track of


different items.
4. Logistics companies use data analytics to ensure faster delivery of
products by optimizing vehicle routes.

5. Marketing professionals use analytics to reach out to the right customers


and perform targeted marketing to increase ROI.

6. Data analytics can be used for city planning, to build smart cities.

Types of Data Analytics

Data analytics can be broadly classified into 3 types:

1. Descriptive Analytics

It tells you what has happened. It can be done using an exploratory data analysis.

Example: Studying the total units of chairs sold and the profit that was made in the
past.

2. Predictive Analytics

It tells you what will happen. It can be achieved by building predictive models.

Example: Predicting the total units of chairs that would sell and the profit we can
expect in the future.

3. Prescriptive Analytics

It tells you how to make something happen. It can be done by deriving key insights
and hidden patterns from the data.

Example: Finding ways to improve sales and profit of chairs.


The graph below represents the difficulty level and values the can be derived from
the different types of data analytics.

Data Analytics Process Steps

There are primarily five steps involved in the data analytics process, which include:

1. Data Collection: The first step in data analytics is to collect or gather


relevant data from multiple sources. Data can come from different
databases, web servers, log files, social media, excel and CSV files, etc.

2. Data Preparation: The next step in the process is to prepare the data. It
involves cleaning the data to remove unwanted and redundant values,
converting it into the right format, and making it ready for analysis. It also
requires data wrangling.

3. Data Exploration: After the data is ready, data exploration is done using
various data visualization techniques to find unseen trends from the data.
4. Data Modeling: The next step is to build your predictive models using
machine learning algorithms to make future predictions.

5. Result interpretation: The final step in any data analytics process is to


derive meaningful results and check if the output is in line with your
expected results.

Why Data Analytics Using Python?

There are many programming languages available, but Python is popularly used by
statisticians, engineers, and scientists to perform data analytics.

Here are some of the reasons why Data Analytics using Python has become popular:

1. Python is easy to learn and understand and has a simple syntax.

2. The programming language is scalable and flexible.

3. It has a vast collection of libraries for numerical computation and data


manipulation.

4. Python provides libraries for graphics and data visualization to build plots.

5. It has broad community support to help solve many kinds of queries.

Python Libraries for Data Analytics

One of the main reasons why Data Analytics using Python has become the most
preferred and popular mode of data analysis is that it provides a range of libraries.

NumPy: NumPy supports n-dimensional arrays and provides numerical computing


tools. It is useful for Linear algebra and Fourier transform.
Pandas: Pandas provides functions to handle missing data, perform mathematical
operations, and manipulate the data.

Matplotlib: Matplotlib library is commonly used for plotting data points and creating
interactive visualizations of the data.

SciPy: SciPy library is used for scientific computing. It contains modules for
optimization, linear algebra, integration, interpolation, special functions, signal and
image processing.

Scikit-Learn: Scikit-Learn library has features that allow you to build regression,
classification, and clustering models.

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