PROS AND CONS OF DATA ANALYTICS

Data Analytics can be defined as the process of cleaning, transforming,

inspecting and making some changes to the raw data obtained with an

objective of deriving some useful information from such data. It is also used

for reaching to conclusions and also for decision making. It is used in various

areas or sectors which include different businesses, science and social science.

In the modern world, the process of data analytics plays a very major and vital

role in taking better decisions which are more specific and scientific. It helps

such businesses to operate efficiently. Data analytics can also help to reveal

changes in trends and metrics that could otherwise be lost in the mass of

information.

ADVANTAGES OF DATA ANALYTICS:-

1) Proactivity and anticipating needs: - In the modern world,

organizations are always under competitive pressure of increasing the

customer base or to target customers to understand their needs and improve

the customer service to develop better customer relations. It helps the

organizations to understand the customer’s requirements and accordingly take

meaningful decisions. This can be done through various means like mobile

phones, e-mails and many more. Companies must use both traditional and

digital sources to understand their customers’ behavior.

2) Mitigating risks and frauds: Security and fraud analysis can help to

protect the physical and intellectual information from being misused. It

protects the data from internal as well as external threats. Efficient and

effective data analytics capabilities can protect the organization from frauds

and provide better security. In case of banks, it reduces the risks by identifying

the probable fraudulent customer through historic data.

3) It helps to detect and correct any errors or mistakes in the data with

the help of the process of cleansing. This improves the quality of data analytics courses and also

benefits the organization and its customers. It helps to reduce the costs to

increase the profits.

DISADVANTAGES OF DATA ANALYTICS:-

1) It may breach the privacy of the organizations’ customers as their

information related to purchases, subscriptions and other transactions are

visible to the companies. The companies may or may not exchange such

information for their mutual benefit.

2) It is often very difficult for the company to choose the correct or

appropriate data analytics tool. It occurs because such decisions require

knowledge about the tools to be chosen and its accuracy in analyzing the raw

data is acquired. This leads to an increase in both time and cost for the

company.

3) The cost or expenses of different data analytics courses tools is dependent on

the number of applications and features provided or supported. For using high

end and complex data analytics tools, professionals require training which also

increases the costs of implementing such tools.

CONCLUSION

In today’s cut throat world, if any company wants to beat its competitors in

terms of number of customers, then data analytics courses helps the businesses to

learn about the market patterns and consumers’ changing needs. In spite of

having its cons, this technique has become an integral part of the modern day

business.

This course is of a lot of importance to everyone as we always obtain the raw

data and often have to convert it to get some useful information. Students

preferring to take advantage of such importance and become an expert in this

field must join this course.
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