Analytics consists of the collection and analysis of information, using a variety of mathematical algorithms, learning techniques and predictive models, to find patterns of response that allow for appropriate decision making in various situations.
It is worth noting that analytics includes digital aspects. These are the most widely used tools today, in addition to providing ease of data collection and drawing conclusions.
In order to carry out a correct analytical process, it is necessary to extract a great amount of information, which will be studied by means of different tools according to the situation, to generate a report that allows to take the appropriate decisions.
PHASES OF THE ANALYSIS
The analysis consists of a series of steps that allow to get the right elements, to study and process them in the best way.
The first thing to do is to extract the necessary data, which must be complete, reliable, accurate, and selected based on the objectives pursued.
In this phase the data that was collected is cleaned to rule out errors or duplicates that can be found within the base, and then it is moved to a suitable format for processing.
Once all the data is filtered, we proceed to structure it, based on the objectives that are being sought, so that it can be ordered according to the importance that it has, with differentiated subsets that make the process easier.
4.CHOICE OF MODELS AND ALGORITHMS
This step is very important, since it is where the methodologies to be used are chosen, according to the data collected, to build an analytical model with different algorithms.
5.TRAINING AND EXECUTION OF THE MODEL
When the analytical model is prepared, it should be tested on a small data set to check its accuracy, so that the model is refined to the correct point.
The moment the model is perfect, it can be used to analyze the entire database. It is best to do this on an ongoing basis with specific information, although if the information is needed quickly you can run the complete data.
6.OBTAINING RESULTS AND CONCLUSION
This is the final stage of the process, because here we observe the results obtained from the execution of the model, and then we make reports, graphs and any other material that serves to explain in detail what was obtained.
BETTER WAYS TO DO ANALYSIS
Nowadays there are several ways to make a good analysis. However, there are some that are widely used by various companies and institutions to achieve the best results. These are:
It is one of the oldest methods used by analytics, combining formulas and concepts of descriptive statistics to obtain information about what happens and why it happens.
This form of analysis uses probabilistic concepts to determine the different events that could occur in the future based on the data collected, and the probability that each of them will materialize.
This is a model that uses the data collected, along with predictive analysis, to determine what may happen in the future and generate appropriate responses.
It should be noted that by using either of these ways to perform good data analysis, you will be able to have the right solutions for all situations that may arise, based on what the analytics offer.