What is Data Analytics and why students from all disciplines should know about it?
What is Data Analytics and why students from all disciplines should know about it?
Data analytics is the process of analyzing raw data to draw out meaningful, actionable insights, which are then used to drive smart business decisions. Analytics is not about the future anymore, it is a growing discipline which has touched every aspect of business, be it supply chain, healthcare, engineering, consumer goods, medicine etc. It might be an assumption for few that only students from computer science/statistics discipline need to follow Data Analytics, as there is requirement of programming knowledge and statistics to work on data science problems.
Since, the applications of Data Science are across domains/disciplines, if someone wants to be a domain expert it is nearly impossible to master a field without understanding or having the foundational knowledge of data science.
Therefore, it is imperative for all students irrespective of any discipline, should learn data science. We have seen the improvement in computing power and data storage capabilities over the last decade. The growth of Machine Learning and Deep Learning algorithms has been phenomenal with the ability to analyze huge amount of data from variety of data sources.
Altair tools such as Monarch, Knowledge Studio, Panopticon as well as RapidMiner is further enabling Data Analytics to make it easier for students to get into Data Analytics as our tools are based on automated workflow of Machine Learning.
What is Data Preparation – Monarch
Monarch is a report mining tool used to extract data from report files, such as text, Excel, PDF, XML and HTML. Monarch can also import data from OLE DB/ODBC data sources, spreadsheets and desktop databases. The software parses the data into tabular format which can be enhanced with 80+ prebuilt functions in Monarch. Data can easily be exported into variety of formats, primarily spreadsheets.
Data Analysis and Modeling – Knowledge Studio
Knowledge Studio is an advanced visual modeling and visual predictive analytics tool used for data exploration & the development and deployment of models. Knowledge Studio quickly generates explainable results – without requiring a single line of code.
Data Visualization – Panopticon
Panopticon is the data visualization software of Altair. It let’s users build, modify, and deploy sophisticated data visualization and stream processing applications with a drag-and-drop interface.