Analytics certification is one of the many types of courses provided by training institutes. To understand the courses under Analytics certification, you need to understand the basics of analytics.
What is analytics?
“Analytics certification” is comprised of two words – “analytics” and “certification”. Analytics is all about determining the underlying patterns in recorded data. These recorded data can be present in any sector such as education, business or healthcare sectors of the government or any private institution. The traditional way of making a decision on any subject requires the mental intelligence, IQ or intuition which is the luck factor whereas analytics brings out a specific pattern making it easy for you to make a well-thought-out decision.
What is certification?
Certification in any subject refers to the acknowledgement of completion of some training, academics or course. It is given by any external assessment organization which certifies that an individual has completed a particular course of study within a given period. Certification is very important as it helps the employer to know about your abilities and the knowledge you have acquired. It strengthens your resume and enhances the chances of being offered good career opportunities after getting certified in any particular field.
What is analytics certification?
Analytics certification is a course which ensures that you have acquired knowledge or skill in analytics. There would be an organization which certifies your training and gives you the certificate after taking exams. It can further be subdivided into different specific courses like business analytics, big data analytics, data mining or advanced analytics.
Applications of analytics
MARKETING – Application of analytics in marketing has grown by leaps and bounds. The use of data in consumer targeting, campaign results and customer segmentation is increasing day by day. Big companies are trying to extract a pattern in customers purchasing specific products or their behavior towards any particular product launch. The product analytics has done this quite easily. Today you see multiple and varied advertisements while you surf the internet. These advertisements are targeted on the basis of your likes and dislikes. If you like to shop dresses then it is 100% possible that you will be shown an advertisement of recent dresses on a particular online site. This would be based on your last purchase details. That is how data analytics works.
BANKS – A bank, as a lender, needs to maximize profit and minimize loss. The most important criteria for making loans is the portfolio of the candidate. Banks try to assess the ability of the candidate to repay the loan. The customer base has various distinctions. Some customers come from a wealthy family whereas some are from poor families with a rural background. The analytics for determining the loan feasibility combines time, income, income source and previous credit record to come to a conclusion. Analytics comes to a decision by using the most current computer data so that a deserving candidate can get a loan.
Analytics certification is evolving day by day and as a course, it is attracting students who are interested in technical knowledge and skills. Demand for analytics professionals will continue to rise as industries recognize the value of data-driven decision making.