{"id":21586,"date":"2018-12-10T10:58:24","date_gmt":"2018-12-10T10:58:24","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=21586"},"modified":"2023-08-08T12:25:37","modified_gmt":"2023-08-08T10:25:37","slug":"data-analysis-and-the-importance-of-analytical-tools","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/data-analysis-and-the-importance-of-analytical-tools\/","title":{"rendered":"Data Analysis and the Importance of Analytical Tools"},"content":{"rendered":"
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We are awash in data: 90% of all data was created in the last two years, an amount of facts and statistics so vast as to be quite literally unfathomable.1<\/sup> Yet, for business, there exists enormous opportunity in extracting meaning from the incredible volumes of data created every minute.<\/p>\n\n\n\n

This job falls to data analysts and as a consequence, between 2016 and 2026, demand for data analysts and other similar occupations is projected to grow 33%.2<\/sup><\/p>\n\n\n\n

That begs the question: why are data analysts seen to hold the key to unlocking the potential profit buried in data, and what tools do they need?<\/p>\n\n\n\n

What does a data analyst do?<\/h2>\n\n\n\n
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In the simplest terms, a data analyst is an interpreter.<\/p>\n<\/div>\n<\/blockquote>\n\n\n\n

In the simplest terms, a data analyst is an interpreter. They take raw data and turn it into meaningful insights that businesses can use for more effective decision-making. A data analyst can cover a number of fields, including finance, marketing and operations, and their findings could, for instance, result in:<\/p>\n\n\n\n