Big data is taking a transformative turn and lending a hand in decision- making everywhere. Data is enabling companies, institutions and enterprises from across the globe to expend their reach, operate efficiently, boost sales and get better results altogether. Whether we talk about small enterprises, schools, institutions, or government agencies, data is bringing about the change we all need.
Business Analytics and Data Analytics are two of the biggest aspects of making this data useful. While many are still uncertain about the difference between these two, you should not be. After all, starting your career in any of these require you to have the right information about them. The terms are not interchangeable. Thus, you need to decide beforehand whether you wish to become a data analyst or a business analyst.
Since this is the time for winters, we know internships are on your mind. When searching for Data Analytics and Business Analytics winter internship in Jaipur, there is only place where you should go. In this blog, we will give you all the information needed to begin with this winter internship. But before that, let us take a deeper look into what data analytics and business analytics entails. Along with this, we will also give you a glimpse into the difference between these two.
Let us get to know each of these at a time, followed by a subtle comparison. This will be followed by the details of the best place for data analytics and business analytics winter internship in Jaipur.
An Intro to Data Analytics
Data analytics is an umbrella terms incorporating the process of collecting and examining raw data. The intention is to draw decisive conclusions about the questions and queries in mind. Every single day, we are producing humongous amounts of data. This data is being collected by companies and businesses in the form of market research, transactional data, logistics, and sales figures, amongst others.
While this raw data in itself is of no use, the coming forth of a data analyst into the picture changes everything. With the aid of data analytics, any business can modify their processes on the basis of their learnings from the process. So, what exactly does data analysis do? It is all about finding patterns in a dataset, which may lead the observer to better indicate towards the opportunities, risks and trends. Hence, companies get a better understanding of how to retain their customers, what products have best chances of selling well as well as the marketing strategies that work best. But this is not the end of the ways in which the collected and processed data becomes useful.
With the new- age technologies and tools, it is easier for data analysts to go through humongous amounts of data. What earlier took days to accomplish, now can be done within mere minutes or hours. Here is how it can be accomplished –
- Data Mining – This is about going through gigantic data sets for the identification of patterns, relationships and trends.
- Machine Learning – The incorporation of statistical probabilities for teaching computers the skill of processing data rapidly.
- Text Mining – Incorporates spotting of sentiments and patterns in emails, documents and other text- based content.
- Predictive Analytics – Aids in analysing and aggregating historical data. It aids the organizations in responding appropriately to any future outcomes such as equipment failures or customer behaviour.
- Big Data Analytics – This technology is about applying predictive analytics, machine learning tools and data mining for the transformation of data into business intelligence.
Cloud technologies have led to the creation of a more innovative and fast- moving environment. This has also allowed data analytics teams to store more data, along with better access and faster exploration. All these have together led to a faster time to value for upcoming solutions.
An Intro to Business Analytics
Business analytics, also referred to as BA, is an iterative exploration of a company’s data. This is done with the motive of revealing information which will facilitate in innovation and better financial performance. With the aid of business analytics, any company can gain full potential outcome from the goldmine of insights derived with the aid of big data.
Business analytics can be largely segregated into three main kinds – descriptive, predictive and prescriptive. Each of these refer to stages which when implemented together, can help solve a lot of company’s problems. Here is a brief of each of these segregations –
- Descriptive Analytics – What has happened is the question that descriptive analytics aims to answer. With this, the historical data is evaluated for imperative insights to get an idea about how to plan for the future. The availability of discovery tools and dashboards, and self- service data access is widespread. This facilitates non- technical professionals and executives to reap the benefits of insights, which get generated by big data.
- Predictive Analytics – When on the path to getting insights, predictive analytics come next. With statistical and machine learning techniques, the likelihood of future events of anticipated. However, do not think that predictive analytics can actually predict the future. All it does is suggest the outcome with the most chances of happening. This is done on the basis of what has happened in the past.
- Prescriptive Analytics – Prescriptive analytics prescribes the most plausible path to take on the basis of the results derived from descriptive and predictive analytics. Business rules and mathematical models are combined to optimize the decision- making process. Various different responses are recommended based on the different trade- offs and scenarios that can arise.
Business analytics is one which can be implemented in any department of any organization. Whether we talk about sales, customer services or product development, business analytics can be used to better the outcome. This is possible due to the readily available tools and deep integration with various data sources. In fact, the users are also offered the chance to apply advanced analytic models without having to take the help of a data scientist. This leads to the creation of many additional opportunities and finding of unknown insights in gigantic datasets.
A Comparison between Data Analytics and Business Analytics
The job of a data analyst and business analyst involves working with data. And difference lies in what each of those do with it. A data analyst gathers data and manipulates it to identify favourable information. This is then transformed into digestible insights. The end goal of a data analyst is to analyse data. A business analyst, on the other hand, uses data with the end motive of making strategic business decisions.
There are quite a few differences between a data analyst and a business analyst. Here are four bases on which these differences can be viewed properly –
The goal of a data analyst is to recognise patterns in a dataset. This pattern recognition is used to make accurate predictions.
The goal of business analyst is to identify the trends in an organization. This is further used to optimize the overall business performance and planning. They also seek to come to a single true line of truths to follow.
The approach taken up by a data analyst is more predictive and prescriptive. They wish to come up with insights that will give them a competitive advantage.
The approach taken up by a business analyst is more descriptive and retrospective. It revolves around defining the requirements and goals for projects and programs.
Just as the correlations are uncovered, new data sources are added.
The data sources are defined well in advance, dependent on the project goals.
- Team Members
Data analyst, followed by line of business manager.
CIO, CDO, analytics manager, business analyst, and finally data warehouse engineer.
Winter Internship in Jaipur
Grras Solutions is here with Internship and Industrial training program this winter. If you are a student who has completed their BCA, MCA, BTech or MTech, then this is the one for you.
Get industrial collaborations and exposure this winter with Grras Solutions 6 months training.
Here are some things you can expert to get here –
- Live training classes with recorded sessions
- Well- structured curriculum
- Weekly tests & daily assignments
- Live projects for better practical growth
- 100% job assistance
- 1- 2- 1 mentor support from industrial experts
- Internship letter and training certification
- Lifetime Grras membership and support
- Learn from industrial experts
- 6 months of advance learning
If you are looking to expand your career graph and turn it into a more successful one, then you should become a part of Grras Solutions’ winter internship in Data Analytics or Business Analyst today. Get started with this one now and choose every aspect of your growth yourself. Data analytics and business analytics are leading programs today and with the right training, it can open up many doors of success to you.
Get in- depth knowledge about MySQL, Microsoft Advance Excel, Power BI, Tableau, and Power Pivot. In addition to this, also learn more about data reposting, data visualization, data modelling, data preparation, data analysis, and data servers. By the time your internship and industrial training program in Jaipur ends, you will have gained expertise in building functions by using programming languages such as R and Python.
No more wasting your time around because Grras Solutions is here to help you out. Enrol now!