The Magnetism of Data Analysis, Featuring Ravindra Patel

The Magnetism of Data Analysis, Featuring Ravindra Patel

Last Updated on November 16, 2021

These days, the world runs on data. Internet of Things (IoT) devices like your smartphone, computer, and even your car collect large amounts of data about how they’re used, where they’re used, and how everything is performing.

But that’s only the tip of a very large iceberg when it comes to understanding the impact of what is now called Big Data. 

Both professional and consumer devices, sensors, and various software have enabled the collection of massive amounts of data, but on its own, all that data isn’t especially valuable. 

Isolated data doesn’t tell a story. For example, let’s say there’s a piece of data that denotes a user opened a phone navigation app at 2 PM. 

By itself, that data point doesn’t say very much. But if it’s combined with other data points, it might be possible to identify a trend: this user opens this app at around the same time every day. Collectively, this data now becomes much more valuable, offering the app’s developers opportunities to better serve their users’ needs. 

This is of course a rather basic example of data analysis, but the core of data analysis is here: taking multiple pieces of data (potentially thousands of pieces of data, in some cases) and drawing helpful information out of them. 

To put it another way, data analysis takes data and literally puts it in formation so that it forms a useful whole. 

In action, data analysis is as interesting as it is crucial. Nearly every type of business and organization, whether B2B or customer-facing, can benefit greatly from some form of data analysis, and it’s data analysts who perform this important work, often with the help of advanced software. 

Ravindra Patel’s passion for data analysis 

Ravindra Patel is an expert in technology management, computer sciences, and data analysis. During a recent conversation, Patel shared with me his passion for data analysis and provided some very useful and insightful information on working with Big Data. 

Currently, Patel is working as a Data Analyst at Metro One Plus, where he has quite a few responsibilities, including maintaining website data, collecting inventory data, database management, recommending tech upgrades, and, of course, analyzing data.  

For Patel, there has always been a natural appeal to data analysis.

“I’ve worked in multiple professions, but data analysis is certainly the most interesting to me. I really enjoy doing research and collecting data that will help businesses make the right decisions now and in the future.” 

With Patel’s assistance, we’ll shed some light on data analysis, from the reasons why it’s a highly viable career option to the enormous benefits businesses can reap by hiring dedicated analysts. 

Projected data analysis growth 

Top 6 Reasons to Pursue a Master’s Degree in Data Analytics

Data collection is not a new concept. Businesses have been keeping various records since the inception of commerce, but businesses operating today can collect more types of data than ever before, and the accuracy of that data is improved as well. 

Just consider a simple brick-and-mortar retail store. In the pre-digital age, one of these stores could maintain accurate transaction records and even calculate theft by keeping up with occasional inventory records. 

But other important types of data trends, such as daily store traffic, could only be measured subjectively, e.g. “This week seems much busier than last week.” 

Now, one of these stores could install a basic sensor that measures not only how many people enter the store, but also when people enter and leave the store, all with impressive accuracy. 

With emerging technologies expanding the breadth of both data collection and data analysis, it naturally follows that businesses and organizations will require data analysts to turn all that data into useful information, especially when collected data sets are particularly large. 

Patel confirms that data analysis is projected to grow rather quickly. 

“The data analysis profession is expected to grow approximately 28% by 2026, according to U.S. Labor statistics. It’s my opinion that data analysis is required by all corporations to remain competitive and maintain their data and analyze it for future advancement.” 

There’s huge potential here for job creation in the near future, and as new forms of data collection are created, the demand for this specific expertise will increase as well. 

Business advantages of investing in data analysis 

So how exactly can data analysis benefit businesses? That’s a complex topic of its own, but we’ll try to lay out some of the basics. 

One of the most straightforward arguments in favor of data analysis is simply the old aphorism, ‘knowledge is power.’ 

Businesses are making decisions constantly, both large and small. Additionally, decision-making is often happening at many different organizational levels simultaneously. 

C-suite leadership may be making major strategic decisions while lower-level managers are making operational decisions that, while relatively small, may impact overall customer perception of the company. 

In other words, every business is complex, and the larger the business, the greater the complexity of its decisions and the potential impact of those decisions. 

When weighing the outcomes of different options, it’s always beneficial to have as much information as possible. 

In fact, this concept translates to decisions made in our personal lives as well. Knowing as much as possible before making each decision is always desirable. 

Providing additional context and knowledge is precisely the service that skilled data analysts can provide to companies. 

From there, it’s not hard to see how data analysts directly contribute to a company’s success, as Patel details here.    

“Data analysts can help organizations to better understand their customers. This work can help boost company performance, its portfolio, and its bottom line. There are so many reasons to invest in data analysis.”

Hiring data analysts or creating an entire data analysis division can support the long-term goals of a business, so it’s not surprising that so many major companies have already invested in data collection and analysis on such a large scale. 

Ethical considerations 

One topic within data analysis that we’d like to briefly touch on is ethical considerations. This can apply to both data collection and data analysis. 

Specifically, the large-scale collection of consumer data, mainly through smartphones and internet browsers, has been a hot-button issue for some time, and it’s an understandable concern. 

There are many users who don’t want specific types of data being collected, such as location data and search history, the latter of which is often used to create personalized ads for users. 

Beyond collection, these users also don’t want this data to be analyzed or sold to third-party companies for analysis. 

Unfortunately, there are no rules or guidelines that apply to every possible situation. 

As Patel explains here, data analysts and their employers need to stay vigilant and speak out against blatant misuse of data collection or analysis, even if such misuse is actually very rare. 

“Data analysis should always respect users. If I didn’t think my work in this field was completely ethical, I wouldn’t be doing it at all.” 

For anyone who might be concerned about various types of data collection, companies almost always offer FAQs and guides that explain why data is collected and how it’s used. 

Also, it’s important to keep in mind that data collection and analysis, as they stand now, are still relatively young. Real-world impact and response will continue to shape these processes and the legislation that regulates them. 

Is data analysis for you? 

how to choose a mobile app development company,

If you’ve found this overview of data analysis interesting, then you may also be interested in pursuing a career in data analysis. 

As we’ve already outlined, the demand for data analysts will continue to grow in the near future, and for many, this can be a challenging and rewarding career path. 

Obviously, relevant skills are the most important consideration for aspiring data analysts, but personality and preference may also be important factors to consider. 

We asked Patel about his natural inclination toward data collection and analysis, and this is what he had to say. 

“Data analysis has been a great fit for me. I’m passionate about data; collecting data and doing lots of research. I think these natural inclinations have helped me to become successful as a principal data analyst.” 

Ask yourself: are you fascinated by charts and graphs? Would your friends and family say that you have an analytical mind? Do you have experience working with complex software? 

If you find yourself answering yes to these questions, you may want to explore academic programs and career options related to data analysis. You might even find an employer that offers hands-on training. 

This definitely isn’t a career for everyone, but it’s also a career that contributes directly to win-win scenarios for businesses and customers alike. 

Tags: 2 things that should be used to analyze data actual data analysis aim of data analysis all about data analysis all about data analytics analizing data analyse research and data using appropriate tools and techniques analysis of data analysis of data from a specific study analytical data analysis analytical tools in research analyzation techniques analyze the data definition analyze your data analyzing data analyzing data from basic data analysis basic data analysis methods common data analysis techniques components of data analysis computer analytics definition concepts of data analytics data analitic data analysing meaning data analysis and results examples data analysis approach data analysis approach examples data analysis basic concepts data analysis concepts data analysis data data analysis data collection data analysis definition data analysis definition in research data analysis example data analysis for data analysis i data analysis in it data analysis in research data analysis in research example data analysis in research methodology data analysis in research methodology example data analysis introduction example data analysis involves data analysis is a process data analysis is the process of data analysis meaning data analysis meaning in science data analysis methodology data analysis methodology sample data analysis methods data analysis methods in research data analysis or data analytics data analysis procedure data analysis procedure definition data analysis procedure example in research data analysis procedure research data analysis process data analysis process examples data analysis research example data analysis results data analysis strategy data analysis strategy in research data analysis techniques data analysis techniques and methods data analysis techniques examples data analysis techniques for research data analysis techniques in research data analysis tools and techniques data analysis tools and techniques in research data analysis tools definition data analytics data analytics analytics data analytics and data analytics conclusion data analytics definition data analytics in research data analytics meaning data analytics objectives data analytics or data analysis data analytics procedures data analytics summary data analytics used in business data analytics vs data analysis data analytics what is it data and analytics data and data analytics data anlyse data collection and analysis process data for analysis data for analysis sample data for data analysis data organization and analysis examples data processing analysis and interpretation data processing and analysis data processing and statistical analysis data review definition data was analyzed datanalysis define analysis in research define data analytics definition of data analysis and interpretation in research describe data analysis difference between data analysis and data processing different analysis methods different data analytics techniques different methods of analysing data different types of data analysis different types of data analysis in research elements of data analysis in research example of data analysis in research paper example of data analysis procedure in research example of method of data analysis explain data analysis explain data analysis in research explain the typical data analysis process external data analysis definition goal of data analytics how can data be analyzed how can you analyze data how data analytics works how do i do data analysis how do you analyze data how do you do data analysis how does data analytics work how to analyze data how to analyze data in research how to conduct a data analysis how to data analysis in research how to do data analysis how to do data analysis in research how to explain data analysis in research how to make data analysis procedure in research how to perform analysis how to process data for analysis how to use data analytics how to write about data analysis how to write data analysis in project how to write data analysis in research methodology how was data analyzed how will the data be analyzed importance of data analysis and presentation importance of data analysis in research information analysis methods introduction for data analysis and interpretation it and data analytics it data analytics kinds of data analysis method of analysis example methodology data analysis example methods of analysing information methods of data analysis and presentation methods used to analyze data name two things that should be used to analyze data objective of data analytics objectives of data analysis in research perform data analytics process for analyzing data process of data analysis in research methodology project data analysis and interpretation proposed data analysis proposed data analysis techniques provide data analytics research and data analysis research and data analytics systems result of data analysis short note on data analysis techniques of data analytics the analysis of the data the importance of data analysis in research tools for data analysis in research methodology two things that should be used to analyze data types of data analysis types of data analysis in marketing research types of data analysis methods types of data analysis methods in research types of data for data analysis various types of analysis ways to analyze data what analysis of data what analytics is all about what are analytics used for what are data analysis tools in research what are data and analytics what are different types of data analysis what are some data analysis techniques what are techniques of data analysis what are the different types of data analysis techniques what data analysis do what do analytics do what do you mean by analytics what do you mean by data analysis what does a data analysis look like what does data analysis include what does data analysis involve what does data analysis mean what does it mean to analyze data what is a data analysis in research what is basic data analysis what is data & analytics what is data analysis in business what is data analysis in computer science what is data analysis in research what is data analysis in research methodology what is data analysis with example what is data analytics in simple terms what is data analytics with examples what is meaning of data analytics what is meant by data analysis and interpretation what is meant by data analytics what is the definition of analyze data what is the definition of data analytics what is the goal of data analysis what is the main purpose of data analysis what is the meaning of data analysis and interpretation what is the process of analyzing data to extract information what is the purpose of data analysis what is the use of data analytics what kind of analysis what to do with data analysis what to include in a data analysis whats a data analysis whats data analytics who data analysis why data analysis is required why data analytics why do data analytics why is it important to analyze your data

Source link

You May Also Like