Whether you are a global leader, or a key executive of a public organisation, a private company, or a government agency. The first step you need to take is to:
Identify the problem
Determine all possible answers
Notwithstanding your situation, and with all things considered, you may now find yourself in a situation where you don’t know what to do next.
Be that as it may, the next step you should take is to seek expert and professional advice from our professional economist. You will find that our professional economist as well as, being experienced with algorithms and coding is also able to:
- Explain in plain English, the significance of data collected and analysed in such a way that you and others can easily understand;
- Conduct research, and devise methods and procedures for obtaining the data required
- Monitor economic trends, and develop forecasts.
How is Analytics used?
Analytics involves applying a number multi-dimensional disciplines to Big Data and then, analysing the data in order to obtain some valuable information from the data analysis. The disciplines applied include:
- Mathematics and statistics;
- Descriptive techniques;
- Predictive models.
What is Big Data?
Big Data, is a phrase used to mean a massive volume of both structured and unstructured data that is so large it is difficult to process using traditional database and software techniques. Interestingly, it has the potential to help enterprises improve their operations and make faster, more intelligent decisions.
What is the Goal of Analytics?
The goal of analytics is to improve your enterprise by gaining knowledge that can be used to make improvements or changes.
What does Analytics Involve?
Analytics involves studying past historical data. This helps when:
- Researching potential economic trends.
- Analysing the effects of certain decisions or events.
- Evaluating the performance of a given scenario.
What Types of Data Tools are Used?
The likelihood of analytics to predict what scenarios are most likely to occur is largely possible through data tools such as:
- Data Mining;
- Data Modeling;
- Forecasting; and
- Online Analytical Processing (OLAP).