Human race has
been playing with data for ever. Large volumes of data being generated, and
reports created of these, have been the traditional approach the way business
have been run and expanded. The future prospects were based on some trends of
your own organization, market and competitors and all this was based on the
performance.
Analysts have
been analysing this data to help organization plan the above.
Times have
changed now and businesses cannot only rely on past performances to plan their
future. You need to capture the current trends and the needs of the consumer
today. Analytics have changed now from analysing past data to perform real-time
data. Data generated not only from the structured in-house databases but also
from non-structured data generated through social media and consumer behaviour.
Tools are
available today to collect data from these sources and put them together
through what is called the process of “Data Conditioning” into databases to
help analyse them. All this data gets processed real time to produce near
instant results helping the businesses serve their consumers better.
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