“Numbers don’t lie” – Max Holloway
Data plays a significant role in our daily lives. Big Data Analytics industries are predicted to reach $275 billion by 2023, according to MarketWatch. The U.S supplies 80 % of Big Data investment monies.
Businesses in every industry utilize data to find new customers and provide customized services for existing clients. Business industries that rely on data include healthcare, financial services, entertainment, real estate, and virtually every other industry.
Data Analytics
According to Investopedia, data analytics is the science of studying raw data to find trends, answer questions, and solve problems.
Data analytics is a broad category of data sciences. Data analytics is a mix of information technology, statistics and business.
Why is data so important?
Customer data collection is a requirement to do business in 2020. Successful businesses and organizations must base their business decisions on the data they collect.
Data collection and analysis allow businesses to track their performance, make stronger connections with their customers, make sophisticated business decisions, and identify market trends.
Businesses have always collected and utilized data to understand its customers better. However, technology allows companies to record data in more creative ways. Can you remember a time where a specific business when to great measures to collect your personal information? Your data is worth more than money!
Action
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2 Comments
Jacque · January 30, 2020 at 2:52 am
Great info on Big Data and the impact in various sectors. Great information in investing.
WeInvested Editor · January 30, 2020 at 3:07 am
Thank you for reading!
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