Services

Data analytics is the process of collecting, processing and analysing comprehensive sets of data for the purpose of identifying both existing and emerging trends and patterns. In this day and age, large and small businesses alike are utilising data analytics to get ahead of their competitors and improve their end-user experience. This is because data analytics can provide powerful, actionable insights into user behaviour and assist with reducing overhead costs.

Data analysis can also help businesses make informed, data-driven decisions that shape how they promote their products and/or services as well as how they engage with customers.

If you would like more information about how data analytics can help your business, get in touch with the team at DSCallards. We’ve been assisting businesses and organisations to unearth the power of insight since 2001 and would be delighted to assist you.

Modern data analytics falls into four primary categories…

• Descriptive – Descriptive analytics is the process of analysing historical data. Descriptive analytics utilises historical data to obtain a view of existing performance and trends on which a business can base its future strategies.
• Diagnostic – A type of advanced analytics, diagnostic analytics examines the “why” in data, with questions such as “why did it happen” and “why is this important”. It’s characterised by techniques such as data discovery and data mining.
• Prescriptive – If diagnostic analytics is the “why”, prescriptive analytics deals with the “what” with questions such as “what can we do to get a better outcome”. Prescriptive analytics is characterised by graph analysis, simulation and complex event processing.
• Predictive – As the name suggests, predictive analytics is the process of using historical data for the purpose of identifying future trends and patterns. Predictive analytics uses statistical algorithms and machine learning techniques to assist businesses in making more informed, data-driven decisions.

For more information on data analytics and the type your business may need, get in touch with the team at DSCallards today.

There are two primary methods of data analysis – qualitative data analysis and quantitative data analysis. Quantitative data analysis is based on numbers and calculations, while qualitative data analysis is more related to language and as a result, is more interpretation-based and descriptive.

In simple terms, quantitative data tells us how many, how much and how, while qualitative data can help us to understand the why, how or what happened behind specific consumer behaviours. Both methods can be used in combination with one another or independently for purpose of unearthing insights from different data types.

Data analytics boasts several benefits for businesses and plays a vital role in the modern world. In a nutshell, data analytics is important because it can help a business optimise its performance. By implementing analytical services and solutions, businesses can reduce overhead costs, improve their end-user experience and perhaps most important, can build informed, data-driven decisions, strategies and campaigns that foster growth.

For more information on data analytics and why it may be the solution your organisation is looking for, contact the team at DSCallards today.