Data Analytics is a course that require your strict attention, from the formula to the analysis on how you interpreted each formula into meaningful business language.
Thought to be easily accessible to non-experts on how Data analytics provides motivation to the necessity of analysing data. It explains how to visualize and summarize data, and how to find natural groups and frequent patterns in a dataset. The Data Analytics experience tends to make one explores predictive tasks, be them classification, correlations or regression analysis.
In other words, Data Analytics applications, like mining the web, information retrieval, social network analysis, working with text, Microsoft Spreadsheet and recommender systems and other related tools that I have learnt so far out of curiosity makes the Course more enjoyable.
Applying Data Analytics to my daily job provides guide to the reasoning behind data mining techniques and other decision making with unique illustrative for example by developing a Management Information System(MIS) Dashboard for my organisation within 3 weeks with the influence of Data Analytic.
The Benefits of Data analytics cannot be over emphasize with the experience I have so far.
1. Better decision-making
One of the major benefits couple with my experience is the extensive data analysis that we use for better decision-making in the last Quarter Business Review held in our organisation. Instead of relying solely on knowledge, or using human computed Microsoft Excel but we engage in matrix and provide automated data representation for our organisation.
We were able to fetch the data collection real-time from the core banking application and analyse historical data on Sale performance, while I interpreted using what I learnt from Professor Bongo and Dr Francis; using simplex Liner Programming and interpret the sales volumes per individual and provide report to the management team respectively.
This really help for Key performance indicator for different variables of the same product that each sale team are offering per budget and aids apt decision making without bias.
2. We were able to personalize our customer experience using Data Analytics.
We collate our sales data from various channels, including physical purchases, products offerings on portal solutions, and social media using Social engineering optimization (SEO).
As an organisation we were able to gain information on customer behaviour by creating detailed customer information from these data to provide a unique experience tagging it as voice of customers (VOC).
Using Data Analysis to conduct the behavioural analysis of our customer data will improve customer service feedback and update in areas that we need to improves on recommended pattern of transactions that will determine which products or services will increase sales volume.
3. We use data analytics to do Customer retention, loyalty and reward scheme
It is evident that data driven marketing will increase sales and customer loyalty via digital marketing and behavioural analysis. Also, ethical analysis, and market research work together to help brands understand what people want from them.
4. Data analytics have Increase the efficiency of work in my organisation this year.
We can analyze a large data sets quickly, fetch from the MIS dashboard butyl within 3 weeks via the inspiration that I got from Lagos Business School (LBS) and present it in a structured way to help achieve our organization’s goals. Also, help us promotes a culture of efficiency and teamwork by allowing managers to share detailed information with their subordinate on role per profile basis.
We have been able to reduce waste and increase productivity with opportunities and improvements within the organisation as reflected, and actions to increase work efficiency respectively.
Therefore, the benefits of learning Data Analytics from Lagos Business School had made me receive value for money while successful companies continue to grow with extensive data records. Using Technology development by incorporating with Data analytics make the data more meaning for appropriate research to solve real life problems.
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