The process used for discovering, communicating, and interpreting significant patterns in data is called ANALYTICS. It simply means the systematic computational analysis of data or statistics, which helps us see meaningful data and insights that we might not otherwise detect. It is also about the application of data patterns for effective decision-making.
In business, this is the process of using quantitative methods to derive meaning from data which is a big help in making informed business decisions. Business analytics enables organizations to make faster, data-driven decisions. It equips anyone with insights that help improve efficiency, reduce unnecessary expenses, optimize business processes, and more results that contribute to success.
Imagine analyzing your past business performances and results and using that information to prepare for the future. That is the advantage if an individual or an organization uses analytics, applying it in several areas.
Importance of analytics in business
Organizations use business analytics so they can make data-driven decisions. The senses are used to optimize and automate business processes. The process gives businesses an excellent overview and insight on how companies can become more efficient. Data-driven companies also use business analytics to outperform their contemporaries.
Business analytics is a quick way to help business improve their efficiency. In business analytics, a considerable volume of data is collated on time. It can easily be analyzed, allowing companies to make the right decisions faster and reduce short and long-term risks.
In September 2021, a better way to measure analytics was launched. It’s called Piwik PRO Core, a new free plan for Piwik PRO Analytics Suite. It’s available to anyone who wants to analyze the customer and user journey in business, government, or education, and the public can enjoy it with fewer limits and more functionalities.
This move is in-line with the rise of privacy laws and the demand for compliant analytics platforms. Unlike many popular analytics tools available for public consumption, Piwik PRO Core will surely help website owners follow the laws and satisfy user expectations while still collecting valuable data.
Piwik PRO Core is a privacy-friendly alternative to Google Analytics. It is a product built around industry-standard concepts. The concepts include detailed, ready-made reports and dashboards and custom reports, funnels, user flows, and multi-channel attribution models. It also provides web and mobile analytics, 14-month data retention for tag management and consent management, half a million monthly actions, and full access to raw data.
Secure cloud servers in Germany store collected data. Users may enjoy safe onboarding of first-party data from many sources and add and test new tools on their websites when using the platform. They can do all these actions while visitors maintain control over data sharing preferences. Those using Google Analytics and similar platforms need not worry if they want to use Piwik PRO Core. The familiar interface, extensive onboarding materials, and community support make migrating to Piwik PRO Analytics Suite easy.
If you care for your business and have respect for every individual’s privacy, you should try Piwik PRO Core – it’s a free, privacy-friendly, and powerful tool you can always count on.