Data Analysis Consultancy
Are you looking to implement a new solution that requires the migration of data between your legacy system and a new system? You have probably heard the saying “Rubbish In, Rubbish Out” so be careful about bringing across any out of date or redundant data. We have delivered ETL processes for some of the biggest retailers in the world, ensuring accurate data extraction, supporting businesses with data cleansing and automating ways of importing. We can also help advise on data platforms, product master data solutions and support master data management.
The fundamental job of a Data Analyst is to tell compelling stories with data that empower organisational leaders to make better, more informed decisions.
Think of a data analyst as a detective. Data Analysts spend their time collecting, organising, processing and analysing data to figure out what it all means. The aim is to discover useful information that the organisation can use to improve processes and increase business.
Much like business analysis, data analysis can save you money. With successful data analysis, you can determine which sectors of your business are using unnecessary finances and the areas that need more financing.
Why is a Data Analyst valuable to your organisation?
A Data Analyst is extremely important for any organisation. Data analysis allows you to make decisions based on customer trends and behaviour prediction, which increases business profitability and drives effective decision making. People often overlook the power of data. Once you adopt data analysis methods in your business, you can analyse the causes of particular events based on the data acquired and fully understand the objectives and directives of your business. You will have technical insights into the business using an easy to understand language. This allows you to act on the data and drive effective decision making.
What are examples of data analysis?
- Descriptive Analysis: Descriptive data analysis is the process of looking at past data to determine what happened. This is often used when tracking Key Performance Indicators (KPIs), sales leads, revenue and more.
- Diagnostic Analysis: Diagnostic data analysis aims to determine why something happened. As descriptive analysis shows that something negative or positive has happened, diagnostic analysis can be done to figure out the reason. For example, if you notice that leads increased in the month of May, diagnostic analysis can be undertaken to determine which marketing efforts contributed the most.
- Predictive Analysis: As the name suggests, predictive data analysis predicts what is likely to happen in the future. Trends are obtained from past data which are then used to form predictions about the future, a simple example could be predicting next year’s revenue from analysing previous years.
- Prescriptive Analysis: Prescriptive data analysis combines the information found from the previous three types of data analysis and forms a plan of action for the organisation. This is where the data-driven choices are made.
What is the difference between a Data Analyst and a Business Analyst?
Business Analysts and Data Analysts both work with data. The main difference is what they do with it. A Business Analyst uses data to make strategic business decisions. Whereas a Data Analyst gathers data, manipulates it, identifies useful information from it, and transforms their findings into digestible insights.
Data Analysis with Tratech
Our Data Analysts are highly experienced and can help you learn things about your business that you may not have noticed. At Tratech, we care about your business problems, and we will use the power of data to turn your problems into solutions.
If you’re looking for someone to analyse your data to allow you to make more informed decisions, Tratech experts can help. Get in touch today!
