To function, a business will produce and collect data to gather information andinsights that will prepare them competitively. Most of this data comes in raw form initiallyand need to go through an extensive process of thinking and tools so they can meansomething and provide actions that will drive smart business decisions (Stevens, 2022).There are several steps when analyzing data that are extremely important for the successof a business activity, those are data mining, management, statistical analysis, and datapresentation which translate on the gathering, organization, preparation, and presentationof the information, all based on the goal of the analysis: descriptive, diagnostic, predictiveor prescriptive (2022). Data Analytics is the process that will collect, examine, organize,and transform data into an intelligible information and have that interpreted by a dataanalyst with a goal to provide recommendations for the company. The role of this processis to help on the discovery of something that may affect your performance and profitobtained on your operations.In general, business will use data analysis to formulate their next steps within themarket they are based on their performance on prior period, their competitors, consumers,and profits, it will all depend on the point of view the company is looking for. In order topromote accuracy among the data input on any type of analysis, it is normal to have adifferent way to observe the same data and compare them, however, it is also important tokeep a margin of error and be aware that these are instruments that will help you to take adecision, but sometimes it will not provide you the answer. The interpretation of ananalysis is as important as the collection of raw data because it helps you understand theproblem and how that it is affecting the company while defining organizational goals andplanning a lucrative solution (Biswal, 2023).
