For any business to succeed, it’s important for the owner to regularly conduct data analysis. When you use this data in an effective way, you will be able to understand how the business performed in the past, how it’s performing in the present, and you’ll also be able to make solid and sound plans for the future. That’s why it’s highly advisable to take data analysis courses whenever you get the chance to as it will enlighten you more on how to go about this.
In this article, we discuss reasons why you should consider data analysis courses and some of the important things you need to know about data analysis in business.Related Topics (Ads):
What is data analysis?
Data analysis refers to the process whereby statistical and logical techniques are systematically applied in the description, illustration, condensing, recapping and the evaluation of data.
It can also be described as the process whereby data is collected and organized so that one can draw meaningful and helpful conclusions from it. The process involves the use of analytical and logical reasoning to get reasonable information from the collected data.
Why should you take data analysis courses?
Data analysis courses come highly recommended because today’s world highly relies on the data we get. Here are more reasons why you should enroll in data analysis courses:
There is high demand for data analysis professionals
In today’s world, technology experts who have data analysis experience are in very high demand. This is because many different organizations are trying their best to make use of big data as they have discovered the power of data when it comes to business growth. Taking the course will, therefore, make you very marketable.
Data analysis courses prepare you for big salaries in future
Data analysis helps companies grow and with this growth comes huge salaries. Taking a data analysis course, therefore, makes you better placed to grow financially much faster.
A data analysis course allows for multiple specialization
When you take a data analysis course, you have the option of specializing in multiple areas depending on your individual competences. Examples include marketing analysis, financial analysis, sales analysis, operations analysis, just to mention a few. The data analysis courses, therefore, prepare you for a more exciting work environment and work life.
A data analysis course makes you prepared to make a bigger difference
Aside from the course preparing you for bigger paychecks and high positions in future, it prepares you to make a big impact to organizations.
Realize you’ll be helping these organizations achieve their visions, missions and objectives as data is the world’s Holy Grail nowadays. Through this data analysis, you’ll be able to help companies find their true calling.
Why is data analysis importance for a business?
We have mentioned that data analysis is helpful in the business world and here are some specific reasons why:
Data analysis facilitates better targeting
When you use data analysis, you can establish the forms of advertising that will effectively reach your customers and make an impact so that they end up purchasing and consuming your products or services.
Data makes it easier for you as a business owner to understand the advertising methods that are best for your business and how possible it is for you to adopt this advertising method. You will realize the costs you will incur in the process and how the returns of your investment in this advertising will be.
Data analysis helps you understand your customers
With data analysis, you can easily check how your products are performing in the market. The moment you understand which products your target market prefers, you’ll be better placed to determine the areas in which you will focus on most and for which type of customers.
Data analysis enables you to understand the consumer’s spending habits, and their different tastes. This information helps you in the pricing of goods.
Data analysis helps cut down operation costs
Data analysis helps you understand those sectors in your business that might be using up finances unnecessarily and those areas that are in need of more finances.
When you have this knowledge, you can cut the amount of money that goes out by significantly reducing the business’ operational cost and the cost of production of goods.
Data analysis therefore makes everything precise meaning you will avoid filler activities that add no value.
Data analysis can solve business problems and make better decisions
If you’re running a business, you understand that any problem can stop the operations in it and bring you losses.
Data analysis goes a long way in helping you make sound decisions on how to run your business and will give you the necessary information on any malfunctions and how to avoid other operational problems.
Data analysis facilitates new innovation
Thanks to data analysis, you as a business can get an idea of future trends in the behavior of the consumers you are interested in.
You will, therefore, be able to make your products more futuristic and invent more that will be welcomed in the future by your target customers. This will give you a competitive edge in that industry you’re in.
Best data analysis in 2020 courses
Because of the growing demand for data analysis experts, there are several courses you can take to learn more about data analysis. Here are some of the best data analysis courses that you can take in 2020 to start you off:
Complete introduction to business data analysis by Ian Littlejohn
- 12 articles
- 5 downloadable resources
- Accessible on both mobile and TV
- Certificate upon completion
- Full lifetime access
This is a great online course by Ian Littlejohn on data analysis that will give you the basics of transforming data into both insight and intelligence. You will learn this through the use of powerful methods of data analysis, tools and techniques.
This data analysis course has been made easy as it contains no confusing formulas, VBA or macros.
In this data analysis course you will learn up to eight different data analysis techniques that you can easily implement in MS Excel.
Throughout the course, you will have lifetime access to different course materials and will be able to get sufficient practice from one of the best selling instructors.
You will learn the best practices of data presentation after you’ve done data analysis and the best practices for the designing and setting up of interactive dashboards.
Microsoft Excel data analysis by New Horizon
· 3 hours on-demand video
· Certificate of completion
· Full lifetime access
· 1 downloadable resource
· Access on mobile and TV
Second on our best data analysis courses for 2020 is the Microsoft Excel data analysis by New Horizon.
In this data analysis course you will learn and understand how to identify the different principles of data analysis. You will also learn how to build presentation dashboards in MS Excel.
In this data analysis course, you will also get tips on how to apply different analysis techniques to the datasets in Excel. You will also learn how to make use of pivot charts and pivot tables to make your workflow in Excel streamlined.
This data analysis course will also teach you how to work well with external databases.
Applied Statistical Modeling for Data analysis in R by Minerva Singh
- 3 articles
- Full lifetime access
- 9.5 hours on-demand video
- Access on both TV and mobile
- Certificate of completion
- 41 downloadable resources
The third data analysis course on our list is the Applied Statistical Modeling for Data analysis in R by Minerva Singh.
In this data analysis course you will learn how to analyze data by applying the most appropriate statistical techniques. You will also learn how to interpret the results of the analysis properly.
The data analysis course also helps you learn how to identify the appropriate techniques for your data and questions regarding it.
The course will also enlighten you on what it takes to implement statistical analysis in R and how to interpret the results. Through it, you will also be able to build intuitive visualizations for your data and will understand more on how to carry out more formalized testing on hypothesis.
Which course should you go for?
The three data analysis courses on our list go a long way in helping you become better at data analysis. We suggest that before you pick one, you go through the features and understand whether or not they meet your specific needs. They all teach you different aspects of data analysis and you might want to consider taking them all if you can.Related Topics (Ads):
1. Why Data Analysis Is Important 2. Importance of Data Analysis 3. What Is Data Analysis 4. Methods of Data Collection 5. Types of Data Analysis 6. Methods of Data Analysis 7. Applied statistical modeling for data analysis 8. Introduction to business data analysis