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Define data analytics
Data analytics is the art of examing raw data with an aim of analyzing the information for evaluation and research. Data analytics as used in industry is to allow companies and organizations to analyze their data in order to improve their production. It focuses on inference, the process of reaching a conclusion based on the known by a researcher. (Lavalle & Kruschwitz 2013)
Evolution of data analytics
Some years ago when we talked about modeling and database profiling it was for the special few who had the privilege of owning a PHD in order to analyze statistical data and make meaning of it. The uses were limited and it was impossible for small businesses/enterprises to make use of the process due to the complexity of the process.
That was all in the past and has changed today with a large number of Multi-Nationals adopting the idea and process of data analyzing. This is because data driven solutions have proven to provide a competitive different ion from users. For this reason data analytic solutions are cheaper to small companies and enterprises through the use of cloud networks which in turn reduces the cost of setting up and running networks from within. Due to the low cost, researchers and solution providers have the opportunity to enhance the process to their customers.
A good example is the transformation of EBay and Amazon; when Krishnan was thinking of a larger data book, Facebook was still blossoming while Amazon and EBay were prominent since they used user centric data. They had specific ways and methods for leveraging data from both inside and outside the enterprise. In the early days there were no tools available to carry out analysis that could beneficial. This led them to build their own tool which eventually contributed to being the turning point for future