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What is data analytics and data analysis?

Data is everywhere in the modern world and it pretty much passes us by but when you add analytics into the equation then data becomes actionable information.

What is data analytics and data analysis?

The way we now live our lives is becoming data-driven.

Data is collected by in all areas of life and through an analytical process.

This information can be used to help to grasp a better understanding of what works and what doesn’t and that is why data analytics is big business in the modern world.

Data analytics and analysis are used by all the major organisations around the world to allow them to make better-informed business decisions,

But it is not just used in the business world to sell and market products.

Data analytics can also be applied to the worlds of education and science used by academics to study scientific simulations, that lead to groundbreaking theories and hypotheses.

What is data analytics? Data analytics is the process of collecting data turning it into useful, actionable information! Click To Tweet

How Data Analytics Can Assist Healthcare Staff

There’s no shortage of people in the healthcare industry talking about data analytics.

Some of these individuals are all on board with integrating full-spectrum analytics tools into all levels of operations.

Others are highly sceptical that these programs actually benefit the bottom line of the health group.

Regardless, there are some extremely tangible ways in which data analytics have proven to be effective in improving outcomes and lowering costs.

What is data analytics - health care

Below are some of the top ways data analytics can assist your healthcare staff

Lower Administrative Costs

Artificial intelligence is one of the biggest driving factors in modern data analytics.

AI is a blessing for the healthcare world because of its precision and versatility.

One of the most visible ways AI and data analytics is working to help healthcare staff is by automating repeating tasks.

We obviously aren’t at a place where AI-driven robots are performing open-heart surgery.

Still, AI-powered data analytics can do some pretty helpful things in terms of simplifying administrative processes.

Integrated data analytics can streamline the process of patient billing through automation.

This frees up staff to do tasks that require more diversified skill sets.

 

Make Collaborating Easier

Collaboration is one of the first things that should come to mind when thinking about health BI (Business Intelligence).

There’s no understating the importance of creating a central point of reference for all data within an organization.

An AI-driven data analytics program boosts collaboration because it allows for game-changing insights to come from all levels of an organization.

This technology puts analytic power in the hands of people who know how it needs to be implemented within a healthcare group, the people who are doing hands-on work every day.

Tools like relational search empower employees to make discoveries regarding the data they organically work around daily.

The simplicity of these features makes them usable by anyone with sufficient system permissions.

 

Lower Risk of Opioid Addiction

There’s an epidemic of prescription drug abuse in this country.

Many of the people falling victim to this trend seek out the drugs without first having a prescription.

But there are also many people who become addicted to painkillers such as opioids after being legally prescribed the medicine by a clinical professional.

Young people are the most likely to use prescriptions for non-medical purposes.

Almost five per cent of people aged 18 to 25 does this every month.

This is a symptom of there being too many drugs prescribed to some individuals.

Older patients have an abundance of medications to help with their broader array of health issues.

AI data analytics can help keep these drugs out of the hands of teens and young adults.

The power of AI data analytics can help healthcare providers better determine the type and quantity of prescription medicine to give people.

 

Healthcare is a field full of quantifiable information.

For this reason, it’s the perfect fit for data analytics.

Developments in AI data analytics are making hospitals and other institutions run more efficiently.

Isn’t it time your healthcare organization and staff embraced data analytics?

 

Data analytics and the financial services sector

Data analytics has created an ongoing opportunity to improve competitiveness and drive business growth particularly within the financial sector

But it is not just about creating investment opportunities and building big business, data analysis is being increasingly used in the fight against fraudulent transactions and cybercrime.

The estimated cost of cybercrime is up to 1Billion with a staggering 99% of all computers vulnerable to malware attacks

Dealing with cybercrime is all about the PDR paradigm: Prevent, Detect, Respond.

Data being stolen is a problem but it is data collected and then used that then combats cybercrime.

 data analytics and cyber crime

4 Keyways data can be used to fight cybercrime

  1. Identify changes in behaviour in device use – Laptops, Mobile Phones etc
  2. Identify changes in employee and  contractor behaviour
  3. Detect anomalies in your network.
  4. Detemine network vulerabilities to eliminate risk

 

Data analytics and education

There are 3 key ways that the education system uses data analysis to improve the learning process

1/ Measure – Monitor – Respond

With data analysis, it is possible to:

  • Measure student performance
  • Monitor student performance
  • Respond to student performance

The analysis of data gives teachers the insight as to how a student is learning this allows them to adapt their teaching styles and address student needs before the final grade is delivered.

 

2/ Personalized learning

Using data analysis can help teachers to understand where each student is struggling or excelling.

This allows teachers to personalize the teaching experience when required.

One way to do this is to offer different starting material for each student within the same course.

 

3/ Design the curriculum

Data analysis is used to understand market and employment trends and how society changes.

This helps to distinguish changes that are needed to learning patterns to meet these needs

 

Data analysis and SEO

Analytics and data analysis is an active ongoing process if you own a site and are a webmaster.

Bloggers no doubt use some kind of SEO plugin when they create content and it is the SEO plugin that gathers data and analyzes your content to attain if your content is SEO friendly.

SEO data analysis takes content data and analyzes it and then gives actionable guidance to optimize your page to gain better search results.

The same can be said for a whole host of plugins that site owners can use. 

For example, security plugins such as Wordfence gather information that helps you keep your site secure.

Google is extremely data-driven. The search giant gathers vast amounts of search data to attain who should rank highly in their search results.

They also share your site’s analytics with you when you create a Google analytics and a Google search Console accounts.

 

Data analysis and compliance

It is clear that the use of data is a good thing.

We have heard how it is used in Healthcare, the Financial sector and Education.

But there still remains a growing concern as to how data is collected and then used and how our privacy is maintained.

Facebook has hit the headlines in 2018 but not for the right reasons.

The social media giant has been battling privacy scandals, policy changes, and falling user engagement throughout 2018.

On March 16, The Guardian and The New York Times both reported that 50 million Facebook user profiles had been harvested by Cambridge Analytica without user knowledge.

That number is now thought to be much closer to 87 million profiles.

This led to an investigation from the Federal Trade Commission.

The Facebook crown may well have slipped just a bit because of this scandal but their own data analysis served them well when they purchased both Instagram and Whatsapp, two businesses that are thriving.

So it is clear that data analysis can help you diversify a business portfolio and manage risk.

 

GDPR is now alive

GDPR stands for the Global Data Protection Regulation

Basically, GDPR is a big part of a data protection reform that is now active across the European Union.

GDPR is a new set of rules designed to give EU citizens more control over their personal data. 

Every aspect of our lives is now data-driven, social media, how we bank etc it is all data-driven and GDPR deals with how our information is stored and collected.

Anyone who digitally collects data in the EU and beyond needs to be compliant with GDPR.

GDPR seeks to ensure that all data is gathered legally and under strict conditions

Those who collect and manage our data must protect it from misuse and exploitation.

They must respect the rights of data owners or face financial penalties for not doing so.

It is all about seeking permission to collect data.

For example, if you read this article and then want to leave your opinion as a comment then you will see at the bottom of the comments section that you are required to give the authorization to collect some of your basic information.

By using this form you agree with the storage and handling of your data by this website. 
Please refer to our Privacy Policy for more information. *

You are then also given the link to our Privacy Policy page to refer to if you have any questions.

So when we say that GDPR affects everyone who collects digital data then it really does. From giants like Facebook to the small everyday blogger.

Our friends at ZDNet have a great article that really does cover GDPR in great depth

What is GDPR? Everything you need to know about the new general data protection regulations

What is data analytics and data analysis? - Data analytics = actionable data

Takeaways

So it is clear that data is a very valuable asset to have.

It really does help you measure, monitor and respond and just gives you better results when you act on the information

It helps you to find out what works and what doesn’t and shines a light of the way forward.

 

That’s all for now

If you have any thoughts of data analysis and GDPR then let me know in the comments section below.

Please make sure that you subscribe to the comments so that you are notified when I reply.

Regards Dexter

 

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Summary
What is data analytics and data analysis? - How it benefits modern society
Article Name
What is data analytics and data analysis? - How it benefits modern society
Description
Information is everywhere and it pretty much passes us by but when you add data analytics to analyze information then data becomes actionable.
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Infobunny
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Follow Dexter Roona:
Social Media Expert and Blogger. I love all elements of social media and my InfoBunny Blog is now really just about providing help for those looking to build their Social Media Authority.

3 Responses

  1. Anand Badola
    | Reply

    Hello Dexter.

    Data analysis is something which can help you with a lot of insights. You can work on all the areas, where you are lacking.
    Thanks for the update

    • Dexter Roona
      |

      Yes, its just data but when analyzed it becomes actionable information that you can use to your benefit.

  2. Kyle Sloka-Frey
    | Reply

    Nice post Dexter.

    I’ve been trying to add more robust analytics to my client’s campaigns, and the results of looking at data at-scale is spectacular. I’m glad to see that it is helping all of these different industries make great strides!

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