Data Analytics – A Study of State of the Art in the Era of Digital Economy

The amount of data available is enormous. Most of the companies and organisations collect data all the time through reviews, feedback, surveys, live location, etc. All or majority of the data is in the raw form which practically is of no use. At this point, the need for data analysis arises. Having said that, data analytics is the process of analysing raw data so as to pull out useful insights. These insights are super important in driving smart and informed business decisions. So, data analysis solves and refines the complex jigsaw of data and transforms into clear information that can be used in an effective way. This chapter has an extensive analysis on data analytics. It looks at how data is being processed and the challenges of unstructured data are met with business benefits. It involves different forms of analytics such as text analytics, Business analytics and software analytics. The study also highlights the challenges involving the use of unstructured data for decision-making, such as the complexity of analysing raw data. Analysing unstructured data like emails, social media postings, and customer feedback is essential while making a smart business decision. Software analytics includes analysing software systems to improve performance, whereas business analytics is the act of using business data to make business choices. The study provides a valuable tool for any person aiming in data analytics and its applications, including an extensive summary of knowledge about data analytics.