Introduction to Analytics

What is the need of Analytics & What is making Analytics so Popular?

Analytics is used by a lot more people then we think; almost all uses analytics in one or other form to make either a business decision or personal decision. Let us say you want to go on holiday, what you do is try and search for possible holiday destination within the time and budget you have. Let’s say you being an owner of a small store observe on a daily basis your customer’s behavior& demand to adjust the stock in tread accordingly.

On the above example, you just need a rational mind to do an analysis and take an analytical decision as the amount of data which you may need to process is small in size and can be handled by any rational human mind easily. 

Let’s take another example, almost all use smartphones now a day and many apps installed on it, including weather forecasting apps, that to be repeatedly. These weather apps look very sophisticated and easy to operate. It will tell what you should carry, a sunscreen lotion or an umbrella while planning for your weekend picnic. However, hardly few of us know that the amount of data gets generated and processed to make these all weather predictions are of such a big in size that within one and half hour, it can overflow this worlds all libraries!!

Above two are extreme example of use of analytics and statistical reasoning, let us see some more,

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