Hi! Data Analytics is indeed a new and exciting field. Let me explain what it is and how it works-

Data analytics is not but the process of examining data sets in order to draw conclusions about the information they contain, increasingly with the aid of specialized systems and software.

In simple words, data analytics is nothing but observing a particular type of RAW data and analyse the information and draw some logical conclusions from it. Now-a-days, since the data is usually very large and cannot be analysed manually, some specialized technology and software is used for the same purpose, albeit for a large set of data.

There are four primary types of data analytics:

1.    Descriptive analytics- It is a type of analytics which basically helps answer questions about what happened. Technically, these techniques summarize large datasets to describe outcomes to stakeholders.

2.    Diagnostic analytics- It is a type of analytics which helps answer questions about why things happened. In a more technical language, they take the findings from descriptive analytics and dig deeper to find the cause.

3.    Predictive analytics- It is a type of analytics which helps answer questions about what will happen in the future. Basically, it uses techniques which use historical data to identify trends and determine if they are likely to recur.

4.    Prescriptive analytics- It helps answer questions about what should be done. In this type of analysis, techniques rely on machine learning strategies that can find patterns in large datasets. By analysing past decisions and events, the likelihood of different outcomes can be estimated.

Hope this helped!