Thanks to the rapid digitization of business processes across the world the importance of data analysis has dawned upon each and every industry. Having robust data analytics capabilities is no longer a luxurious option for businesses, it is a bare necessity for survival.
Every aspect of an industry from production to retail generates data. All these data can be collected, cleansed and analyzed to reach actionable insights. These insights in turn guide the business towards success in terms of decision making, campaign design, resource allocation, so on and so forth.
We are here to look at four industries that make the most of data analytics. These are sectors where you can start your journey as a data analytics professional. Of course, if you have access to employment assistance like AnalytixLabs placements, you will already have come across these. If not, here is some help.
Banking and finance
This sector is one of the forerunners among deployers of analytics capabilities. Banks and financial bodies have good use of data science for fraud detection, default prediction, cyber security, customer analysis, among other things.
A lot of data analytics professionals have found employment with banks and financial institutes. You can say this sector is one of the key patrons of the analytics industry. However, job roles in these sectors are usually reserved for the more experienced candidates since the stakes are always very high.
Healthcare data has grown more important in the last twelve months than it ever was. Every bit of information is crucial and data science models are absolutely necessary to make the most of all these data.
Healthcare facilities can not only use patient care and billing data to enhance customer service and alleviate undue expenses but can also find out better ways of treating the patients.
Healthcare analytics is the current big thing. It is also one of the focal points of AI research in India.