Real Time Data Analytics Explained

What is Data Analytics?

Data analytics is the collection, transformation, and organization of these facts in order to draw conclusions, make predictions, and drive informed decision making. Companies need data analysts to sort through this data to help make decisions about their products, services or business strategies.

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What is meant by real time Data?

Real-time data refers to information that is made available for use as soon as it is generated. Ideally, the data is passed instantly between the source and the consuming application but bottlenecks in data infrastructure or bandwidth can create a lag.

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What derives a platform to consider an Analytics platform?

Data analytics is important because it helps businesses optimize their performance. Implementing it into the business model means companies can help reduce costs by identifying more efficient ways of doing business and by storing large amounts of data. The industry that uses data analytics the most is the?finance industry. However, other industries also need the skills of a data analyst, including business intelligence, transportation, entertainment, healthcare, retail, and telecommunications. Successful businesses are agile and able to launch new products to the market quickly. Companies use data analytics?to monitor changes in the market, including evolving customer demands, to ideate new product and service concepts, prototype models, and test their offerings in the market.

Four signs your company needs a data analytics solution:

1. A lack of actionable data.
2. Reporting is slow.
3. Your company has outgrown Excel.
4. No dashboard view of company performance.

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Types of Data Analytics:

Whilst each of these business analytics types is effective when used individually, they become extremely powerful when employed together.

• Descriptive Analytics.
• Diagnostic Analytics.
• Predictive Analytics.
• Prescriptive Analytics.
• Cognitive Analytics.

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Advantages of real-time data:

Real-time data analytics?enable businesses to swiftly see trends and take thoughtful action. Its value is felt greatest in customer service and marketing teams where customer behavior and customer experience both power campaigns. Since the delay in data processing is minimal. Information is up to date and can be used immediately. You would need fewer resources to sync systems. You have increased uptime.

United Delta Solution:

United Delta has successfully unlocked the real value of having a powerful Data Analytics & Real-time data platform. Using our top-notch stack of technologies and our team of certified experts, we were able to successfully deliver our Data Analytics and Real-time data projects to major organizations across the GCC.