What is a data analytics platform? Is it necessary for businesses?
What is a data analytics platform? What can it do? Is it necessary for businesses? Today, Sertis would like to take you to find out the answers.
Data analytics is the process of analyzing various present and historical data in businesses to draw meaningful conclusions according to each purpose such as predicting future sales, finding the causes of problems, and designing business strategies. The importance of data that has become a valuable asset in the era of big data resulted in the development of various technologies and tools to analyze and make maximum use of it.
We have witnessed the development of many technologies, including data storage, management, analytics, and visualization technologies. These technologies were all developed for modern business uses. One of the fascinating business technologies is a data analytics platform, which we will take everyone to get to know today.
A data analytics platform is a one-stop platform that combines all steps of analyzing data into one place. With a data analytics platform, we can complete all the analytics processes, from data extraction to data visualization, to provide ready-to-use and actionable insights with no more complication and cost from using separate tools for each step. It can be said that this is the platform that every business needs.
Let's get to know a data analytics platform and discover its true benefits in this article
What is a data analytics platform?
A data analytics platform is a one-stop platform that combines all steps of analyzing data. For more convenient use and to support all corporate needs, a data analytics platform combines data technologies with different functions and applications into one place. The step ranges from data storage, management, preparation, analytics, and visualization.
A data analytics platform connects and executes the sequence of data analytics steps in a single platform, without the need to use multiple tools that are too complicated. We can complete all the steps, e.g., extracting data from various sources, analyzing it according to the specified metrics, and presenting the conclusion in visualized forms such as easy-to-understand graphs or charts. Some platforms can also display real-time data with minute-by-minute analytics. A data analytics platform can also be designed specifically to suit the needs and constraints of the organization, and it is available on both cloud and on-premise.
In short, a data analytics platform helps analyze the data in our hands. It processes the raw data, starting from the preparation step to the analysis step, until the data becomes in-depth insights that are beneficial for business operations, for example, finding the cause of the problem, designing a strategy for the future, or making quick business decisions.
How necessary is a data analytics platform for businesses?
The answer is that it is absolutely necessary for almost every business. It is because today's businesses are driven by data. New data is generated from our daily routines every second, with an average of a person generating 1.7 megabytes of new data per second.
Data is, therefore, an important resource that helps businesses understand what their customers like, what they don't like, what they are doing at the moment, what their behaviors are like, and what they are likely to do next. With data, we can also read the market direction, for instance, see what kind of product sells well and which does not. Furthermore, we will be able to understand the situation of our business, for example, how much our income, profit, and loss, what is the cause of the loss, or what are the problems and the bottlenecks in the operating system.
Business data analytics gives us insight into every aspect of our business and enables us to strategize and make informed decisions based on facts. If we don't have data in our hands, we tend to make decisions without supporting data and run businesses with trials and errors, which wastes a lot of money.
The next question is why do we need a data analytics platform? The answer is that nowadays, the world is moving faster than ever. We are driven by an interconnected world of social media which has become our fifth factor. Any transaction is just a touch away. New trends can come and go overnight. For these reasons, the old-fashioned manual data analysis or silo technology makes it impossible to catch up and meet the needs of customers. Before we know it, customers have changed their minds. That is why speed is extremely important.
A data analytics platform meets these requirements. It provides a comprehensive collection of all data in our business, and most importantly, it can analyze that data to draw the insights we need in real-time. It also handles all the tasks automatically 24/7 and is accessible throughout the organization.
The ability to collect and manage massive amounts of data and the velocity of the analyzing process without a break, these two features provide us with what we need on time and enable us to support every decision and every step of the operations with informed insights. It can free up human resources and time. And these are the key reasons why a data analytics platform is essential for every business.
A comprehensive and efficient data analytics platform should be able to:
Collect, integrate, and load data from multiple big data sources in your organization into easily accessible, complete, and proper places and forms with an efficient security system that ensures all corporate data safety
Summarize the conclusions of the data analysis, identify the relationship and compare all the variables, uncover hidden trends and conclusions, and predict future outcomes
Improve the overall work process, reduce operational costs, and increase the accuracy of the results.
Provide a feature that allows users to set up their own KPIs to calculate and measure the performance and track the progress
Provide a feature that makes it easy to select and aggregate data for analysis such as an easy-to-use pivot table, etc.
Provide an interactive dashboard that allows users to view understandable results and customize the displays by themselves
Integrate well with other programs used in the organization and provide mobile and tablet versions to support remote work from anywhere, anytime
Provide the function for data access and sharing across the organization, but at the same time, restricted access can be set to prevent the leakage of information
If you are looking for a data analytics platform that meets your organization's needs in every dimension, let's start developing your customized platform with Sertis.
We are a leading AI and data solutions provider. We offer an end-to-end service of developing a customized data analytics platform for every organization. We work closely with our clients to understand every aspect of their business and develop a platform specifically designed to meet all their needs. Let's create a tailor-made one-stop platform that completes all steps in data analytics in one place. Elevate business operations, generate more profits, and grow exponentially by making the most from your data with your own data analytics platform.
Learn more about data solutions from Sertis at https://www.sertiscorp.com/services