As per Gartner, the overall analytic platforms software market grew by $25.5 billion in 2020. According to International Data Corporation, global spending on big data and business analytics (BDA) solutions is estimated to reach $215.7 billion in 2021. Since analytics can require extensive computation (see big data), the algorithms and software used for analytics harness the most current methods in computer science, statistics, and mathematics. Analytics may apply to a variety of fields such as marketing, management, finance, online systems, information security, and software services. Specifically, areas within analytics include descriptive analytics, diagnostic analytics, predictive analytics, prescriptive analytics, and cognitive analytics. Organizations may apply analytics to business data to describe, predict, and improve business performance. It can be valuable in areas rich with recorded information analytics relies on the simultaneous application of statistics, computer programming, and operations research to quantify performance. It also entails applying data patterns toward effective decision-making.

It is used for the discovery, interpretation, and communication of meaningful patterns in data. ( Learn how and when to remove this template message)Īnalytics is the systematic computational analysis of data or statistics. JSTOR ( December 2021) ( Learn how and when to remove this template message).

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Google tools for data analysis