What are Data Analytics for Business?

Data analysis refers to the process of looking at raw data to understand what's going on. Usually, businesses analyze data for trends or patterns that can boost the efficiency or accuracy of their strategies.

For example, a marketing team could measure customer interactions: number of blog articles read, number of emails opened, time spent on a company website, and more. Using this information – and based on past trends – they could identify where a lead is in the buyer's journey and how likely they are to convert.

On the other hand, manufacturing companies might record runtime, downtime, and work queues for specific machines. Data analysts can then look for bottlenecks in production or plan workloads to ensure the machines operate at maximum efficiency.

The fundamental goal of data analytics for businesses is to boost profits, either by reducing inefficiencies or enhancing customer engagement. It's all about optimizing your performance