Data analytics is an essential tool in a digital age where information is being fed to industries en masse at a rapid pace, and a data analyst can help unscramble large volumes of data into tangible information that can help organisations move forward. While some industries don’t quite rely on data analytics, it is absolutely crucial for others, with the potential to impact even the very core of their existence. If you’re considering enrolling in a data analytics course, it would be helpful to learn more about the industries that you can be expected to work in whilst building your data analytics career. Let’s take a look at some of these industries and why data analytics is so important to them.
Retail banks rely extensively on data to better understand how their customers use their accounts as well as to help them identify security risks. For instance, predictive analytics is used to consolidate internal and external customer data to build a predictive profile of each banking consumer, which financial institutions can use to provide consumers with personalised, value-centric services instead of peddling mass marketing programmes. They’re also leveraging big data in location intelligence to determine how to effectively manage branch locations and set specific location-based performance goals. Besides retail banks, investment banks too, are investing in big data to understand markets and make more informed trading decisions. If you’re looking to make an impact in a traditionally numbers industry, consider taking data analytics training in Singapore and be part of the future of banking.
On the surface, farmers and big data — an unlikely combination of nature and skyscrapers comes to mind — might not necessarily go hand in hand, but as many a cyberpunk narrative has so accurately predicted, technology is all pervasive. Data analytics is crucial for agriculture as predicting the weather and maximising productivity out of every plot of land are essential for feeding a growing global population, a need accelerated by rapidly worsening environmental conditions. In regions like Africa where farmers can scarcely afford machinery and fertilisers to make the most of their vast swathes of land, data analysis and machine learning techniques can help quantify the predicted value of added resources and probability of success. Through a data analytics course, you can begin to do your part to impact one of the most important industries in the world.
Data has been traditionally crucial for doctors seeking to better understand many aspects of their patients, such as their blood pressure range, or how much sugar they should consume each day. This information is gleaned from a large number of data points collected from many patients. However, the healthcare industry today is also using data analytics to answer bigger and more complex questions, such as figuring out if a patient is at higher risk of substance addiction than others, or if you want to find effective ways to treat different conditions. Big data can help you accomplish that, and by mastering big data with data analytics training in Singapore, you can assist healthcare professionals in providing better quality care for patients who sorely need it.
Government and Public Sector
Public sector organisations around the world are using data analytics, machine learning, natural language processing, and speech and image recognition for a whole range of functions, but most importantly, to solve problems before they escalate into something more severe. For instance, police departments use AI to observe patterns and relationships in criminal activities to identify crime hotspots, allowing the police to intervene more quickly. Data-driven technology is also used to monitor suspicious online ads and connect them to human trafficking crime rings, helping agencies locate and rescue millions of victims, as well as prosecute traffickers.
Data analytics might seem like an inconspicuous information crunching profession, but your work plays a major role in essential industries across the world, and the information you procure could impact millions of lives both locally and abroad. For more information on Smartcademy’s data analytics course, please visit our website.