Data Analytics vs. Data Science is a necessary comparison because they are two necessary tools to better analyze and use data. to exploit one hundred percent of the potential of your company.
Companies handle a lot of information and it is important to know how to use it to stand out from the competition. Data science and data analytics help improve different areas of the business, from customer service to cost reduction and process optimization.
By 2025, annual revenue from big data markets worldwide is expected to reach a staggering 68,000 million dollars, which would be a historic figure for the industry.
In this article, we will see what are the differences and advantages when comparing Data Analytics vs. Data Science and how your company can use these tools to improve its decision making. It is advisable to go consulting and technology companies to provide resources to improve services for customers if you have important questions.
Data Analytics vs. Data Science, what are they?
Data Science explores messy and diverse information. Although it focuses on different areas than marketing analytics, it is important to understand both in order to use them properly.
To do data science well, you have to perform several steps such as collecting and extracting information from big data stores, and communicating important findings and insights to the people who need that information. Its goal is specifically focused on answering specific questions and concerns.
The fundamental steps of Data Science include:
- Collect data– This is the first step and it involves collecting and storing relevant data from various sources.
- Clean data: Once the data has been collected, it needs to be cleaned up and any unwanted or missing data removed.
- Prepare the data: Before applying any analysis model, it is necessary to properly prepare the data, which includes selecting relevant variables and converting the data into a suitable format.
- Analyze the data: once the data has been prepared, analysis techniques are applied to discover patterns, trends and relationships between variables.
- model the data: At this stage, statistical and mathematical models are built to predict outcomes and understand how variables change.
- interpret the results: After applying the model, it is important to interpret the results to better understand what it means.
- Communicate the results: Finally, the results are communicated to stakeholders in a clear and easy to understand format, often using graphics and visualizations.
What is Data Analytics?
As we can see when comparing Data Analytics vs. Data Science, these tools complement each other to have the full picture to make the right decisions. However, it is important to understand the uses and tools of Data Analysis. This process consists of collecting, cleaning, inspecting, transforming, storing, modeling and consulting data, with the aim of obtaining knowledge that helps make decisions, not only in business, but also in areas such as science, government or education. .
Data Analytics focuses on the fundamental tasks of the analysis process, such as data collection, cleansing, inspection, transformation, storage, modeling, and query. Although it is often used in the context of business decision-making, it is not limited to this realm and is also used in other areas such as science, government, and education.
The classification of Data Analytics, according to its purpose, can be divided into four categories: descriptive, diagnostic, predictive and prescriptive:
- descriptive analysis provides an objective description of what has happened in the past.
- diagnostic analysis seeks to understand the reasons behind what has happened in the past.
- predictive analytics uses past data to make predictions about future trends.
- prescriptive analysis provides actionable steps to reach a specific goal.
Benefits of implementing Data Analytics vs. Data Science
Using Data Analytics vs Data Science can help you understand which parts of your campaigns are succeeding and how to improve them. For example, if you made a lot of changes to your marketing campaigns and saw an increase in your website traffic, how do you know which specific change was responsible for your success?
Only by using Data Analytics vs Data Science will you be able to analyze the impact of each factor and determine which changes resulted in increased traffic. This will help you make informed decisions about what tactics to use in the future.
It is important to note that you should not make too many changes at once, as this will make it difficult to identify the factors that led to the positive results. This is especially important when running A/B tests.
When you take the time to analyze your A/B test results, that's when you'll really get the answers you need. In these cases, the implementation of Data Analytics vs Data Science reappears as the ideal solution for it.
The use of Data Analytics vs Data Science can allow you to find important market opportunities from your data and important information. Remember that you can request a consultancy with Codster to solve your doubts about it.