With the increasing number of IoT devices, data generation has increased many folds. Both the private and government sectors have been affected by this. No organization can ignore the amount of data generated, shared and collected or else they risk being left behind. Owing to this data analytics has evolved to become the most important aspect for organizations worldwide. And with the increasing popularity of data analytics courses it is important to understand how you can have a future in the world of data analytics.
Importance of data analytics
● Data analytics improves efficiency
Data collected by companies will only make sense when analyzed properly. This is where data analytics comes into play. You need help the data analysts to excavate important insights from a vast sea of useless data. Only a trained data analyst will be able to extract sensible information from massive volumes of data using skills of big data analytics and cutting edge technologies. The important insights gained from that will help the management team in important decisions like where to invest and how to recruit talents. It will also help to decrease wastage of time and manpower, thereby increasing efficiency.
● Making predictions
By the virtue of data analytics companies can now recognize potential markets and act accordingly. Security agencies take the help of data analytics to prevent crime and protect the citizens and bankers use it to prevent bank frauds. Data analytics is essentially making the future felt as predictive analysis is now possible accurately. Machines are now closer to us as data analytics is leading to innovations in machine learning and deep learning.
How Malaysia is using data analytics to transform its economics?
Malaysia aims at becoming a developed nation by 2025 and digital revolution is its weapon of choice. The MDEC ( Malaysia Digital Economy Corporation) was established for the sole purpose of transforming Malaysia into a digital economy it aims at making Malaysia into a big data analytics hub and several steps are taken towards that. Thanks to support from MDEC, several data driven startups have been set up in Malaysia. Owing to a talent gap, MDEC aims at 16K data professionals including 2K data scientists within 2020. The requirement for data analysts is huge in Malaysia and the pay package is lucrative too. Thus, with data analytics courses in Malaysia you can secure a promising future for yourself.