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Data analytics is the process of collecting and analyzing lots of customer data to draw conclusions about behavior patterns, personal interests and purchasing trends. Analytics accelerate decision-making, improve business processes, enhance user engagement, reduce costs, and drive growth and profitability. Data analytics spans the analytics landscape, from the most basic descriptive and diagnostic analytics to advanced analytics like predictive, prescriptive and data sciences.
Data analytics can provide new revenue opportunities, better customer service, more effective marketing, improved operational efficiency and real competitive advantages. It can also help businesses: