Analytics can be defined as “the analysis of data to draw hidden insights to aid decision making”. Businesses now a days generate huge amounts of data. This data contains many patterns and trends that, if identified, can act as valuable and powerful guides for business decisions and strategy. For example, an e-retailer like Amazon gets hundreds of thousands of buyers on its website every day. By analysing the behaviour of the past customers, Amazon is able to predict what new customers may be interested in.
According to IBM, 90% of the data in this world has been produced in the last 2 years. This is an indicator of the torrent of data that has engulfed all facets of our life. The human mind is not capable of dealing with such large amounts of data. This is especially true in business. Large businesses have thousands of gigabytes of data containing billions of pieces of information. We need specialized tools and techniques to make sense of so much information. Hence, analytics has become a crucial part of managing any business.
Currently, there is a global shortage of trained analytic professionals. Acquiring analytic skills will secure your career for the future.
This guide is meant to serve as a starting point for those who have little or no prior exposure to analytics. If you are seriously interested in this field, we recommend reading this guide from front to back. It's short and easy to understand. There's a printable PDF version for those who'd prefer, and scores of links to resources like blogs, forums, e-groups, websites, videos, white papers and books. We wish you all the best for your journey to becoming an analytics wiz. We hope you find this guide a useful first step.
