All About Data Analytics

What is Data Analytics?

Analyzing data to identify trends and make judgments about the information they contain is known as Data Analytics. Here data may be in the form of Excel file, Html file, Sql Database etc.
Example: Customer Segmentation.
Suppose there is a bank, it wants to know which customers are likely to leave or unsubscribe from your service so that it can use marketing efforts with each customer to maximize their likelihood of staying.This is very important for banks and financial services.Customers have different behaviors and preferences, and reasons for canceling their subscriptions.
We will use Data analytics as a tool to detect the hidden patterns among the two types of customers: One who are currently in that bank and Second one who had leave it.After successful detection we will able to predict chance of a person to leave the bank and indirectly increase in profit.

What is financial analytics?

Financial analytics is an essential tool for Investment and corporate world. It is synonym of data analytics for finance industry.It entails analyzing financial statements and other pertinent financial data to assess an organization’s financial performance and status. The goal of financial analysis is to provide stakeholders with the information they need to make knowledgeable decisions about the future of firm.

Financial statements are the main information source used in financial analytics. Following are the three basic financial statements.

Balance Sheet

The balance sheet shows the financial standing of a company at a specific point in time. This document contains a list of the equity, liabilities, and assets of the company. An organization’s assets are the resources it currently has and plans to use to make money in the future. Liabilities are debts that the company owes to third parties. Equity represents the organization’s remaining interest in its assets after debts have been paid.