Data Analysis in Excel

Author(s): Lalit Kumar

Originally published on Towards AI.

A data scientist’s go to tool for basic analysis

Data science is a dynamic and crucial field, which uses a diverse array of sophisticated techniques and algorithms to extract meaningful insights and actionable information from raw, often complex, data sets. This extracted intelligence serves as a powerful tool for higher management, enabling them to make informed, strategic decisions that can significantly influence the future direction of an organization. The potential impact of these data-driven decisions is far-reaching and profound, ranging a wide spectrum of corporate operations. It can influence fundamental company policies, drive the development of innovative new products and features, facilitate entry into untapped markets, and enhance user engagement and acquisition. Consequently, these actions directly influence the company’s growth trajectory and revenue streams, creating a ripple effect that extends to employee growth and potential salary increases. In today’s fiercely competitive market, strategic decision-making is paramount for any organization striving to maintain a leading position. To minimize risk and maximize profitability, these critical decisions must be firmly grounded in robust, reliable data, ensuring that every strategic move is backed by evidence and analytical rigor. Furthermore, data science also provides the ability to detect patterns and trends which can allow a company to be proactive in the market, rather than… Read the full blog for free on Medium.

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Published via Towards AI