In today’s technology age, data generated on a day to day basis from different sources is enormous, where big data reigns, the art of data analysis is making sense of our world. There are various solving complex business problems can be solved through effective data driven decision making analytics including the employees behaviour, weather he/she will continue in the organisation or looking for a switch over.
Data visualization is the graphical display of the information for two purposes: sense-making (also called data analysis) and communication. Important stories live in our data and data visualization is a powerful means to discover and understand these stories, and then to present them to others.
This data can have valuable information that can help executives to take effective decisions. Organizations use Business Intelligence (BI) to cater to this but only a proper utilization of business intelligence can help organizations to improve the productivity and ultimately increase the revenues. As per research, $1 invested in business data analysis may generate up to $10.66 ROI on average. But there is no assurance unless you are using your BI effectively.
With the huge amount of data and its complexity involved in today’s business processes, there is a need to analyze and visualize this data and make effective decisions in the real business problems involved. Thus there is a need to leverage upon the data and decision sciences techniques to take on business challenges and goals. Data science professionals become experts to extract meaning from large volumes of data, which requires both tools and methods from mathematics, operational research, statistics, computer science, and other related subjects.
The objective is to augment managerial decision making from data driven insights. Exploration in the domain is a collaborative approach involving mathematical understanding, business tactics, technological applications and behavioral sciences to help management make data driven decisions.
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