Data Analytics Vs. Data Analysis: What is the Difference?

Data is factual information used as a basis for reasoning, discussion, or calculation. In the modern age, the aim is to have almost everything connected, and data previously produced on paper is now available online. This is attributed to the recent advances in technology, such as data processing, transmission, and storage associated with improved computer software which reduce costs and increase data capacity. Are you in need of data analysis services?  Well, then look no further because our company is well known for offering accurate data analysis services to gain meaningful insights that help in decision-making.

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Two words often used interchangeably but have a significant difference are data analytics and data analysis. Even though both are used to gain an understanding of raw data, their scope, techniques, and aims are different. This post gives a comprehensive overview of the similarities, differences, and examples of an application of both processes.

What is data analytics?

Data analytics is the science that analyzes raw data to gain useful knowledge used for decision-making. It involves data collection, organization, preprocessing, transformation, modeling, and interpretation. This data can be structured, unstructured, semi-structured, or big data depending on the structure.

Multiple companies globally are realizing the potential of using data analytics to their advantage to increase the value of their products and profits. According to Statista, the number of organizations using big data analytics in market research steadily increased between the years 2014-2021 by 46%.

What is data analysis?

Data analysis, on the contrary, is a sub-division of data analytics that involves the transformation of data into useful facts that can be used either qualitatively or quantitatively. It involves simplifying complex factors into simpler parts for the preparation of interpretation. Data can either be qualitative or quantitative.

The aim of data analysis is to summarize and explain data, find the relationship between two or more variables, find the differences between variables, or predict outcomes.

Similarities and differences between data analysis and data analytics

Similarities

• Both data analytics and data analysis aim to gain useful information from raw data that can be used for decision-making.
• There are common software tools that are used in both data analysis and data analytics such as Python, R, and Tableau.
• Both methods use machine learning. Data analytics uses its algorithms to gain analytics-driven insights, while data analysis uses machine learning to discover patterns and make predictions for large data sets.

Differences

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• In the modern age, data is the foundation for organizations aiming to improve in digital transformation. Data analysis identifies new growth opportunities and minimizes risks by transforming raw data into meaningful insights crucial for decision-making. So, why should you get data analysis help from our company?
• Our services offer customized solutions including data mining, descriptive analysis, predictive analysis, or decision-making according to your research needs. Our experts also offer support throughout the process, ensuring that you are satisfied with the final results.
• Our data scientists experts in multiple fields of research, such as healthcare, marketing, energy and utilities, transport, and manufacturing. Regardless of the nature of your research either qualitative or quantitative, our professionals have the required skills and tools to produce quality results.
• Our data analysis services have access to the latest advanced software used to perform analytic and analysis operations. Our experts are proficient in the use of software tools such as Python, R, SAS, Microsoft Excel, and Microsoft Power BI. Use of these tools enables our experts to deliver accurate reliable results useful for decision-making.
• Our experts hold PhD and Masters degrees in the field of statistics and biostatistics. They have extensive experience and knowledge of statistical procedures including interpretation of the analysis results.

Data Analytics Services List Offered by Our Expert Data Analysts

Our expert data analysts offer customized solutions specific to your data analysis needs. They enable you to gain actionable insights that are useful for decision-making. Below is a list of services that our data analytics services offer:

• Data modeling
• Data mining and scraping
• Data visualization
• Cloud computing
• Predictive and customer analytics
• Marketing Analytics
• Big data analytics services
• Data warehousing
• Data mapping
• Data consulting
• Data Engineering

Examples of Data Analysis and Data Analytics

Data analysis

Let’s take an example in the healthcare field where the research objective is to predict disease outbreaks.

A hospital wants to predict the rate of cholera outbreaks in a certain community to educate the inhabitants of the region on how to take necessary measures for prevention. They began by stating the research question to establish a road map for the process of data collection. Researchers then collected data from existing medical records and healthcare databases to identify previous seasons of the disease outbreak. They cleaned the data to get rid of errors and inconsistencies to ensure the reliability of the data then conducted the analysis using Python to identify the trends of disease transmission. Finally, the researchers interpreted the results and presented them visually using Matplotlib.

Data Analytics

A massive company wants to identify how to increase sales and improve customer satisfaction.

In this case, the company would make use of big data and predictive analytics to acquire knowledge on how to enhance customer satisfaction and boost sales. They hired a data analytics service for cloud computing to make better decisions regarding product promotion. The cloud-based analytic website helps the company to find which products are most demanded by consumers. Conducting this analysis of consumer data is an example of how huge organizations can use evidence-based decision-making to boost sales.

Summary

Data analytics and data analysis are two terms that are often used interchangeably but have two different meanings. The former is a process that analyzes raw data to acquire knowledge for decision-making, while the latter is a process of transforming data into useful insights. Another key difference is in the data, where data can be structured, semi-structured, or unstructured in data analytics while in data analysis, data is either qualitative or quantitative.

Our data analytics services offer customized solutions for our clients specific to their research needs. Our experts are the best in the market and deliver quality reliable results assuring you of organizational growth. Maximize the value of your data by hiring the best data analysis services today. Chat with us and request a free quote now to get started! You can also contact us for any inquiry and you will get an almost immediate response.