editors choice badge Editors' Choice

Why Businesses Should Train Their Employees In Data Analytics

Why Businesses Should Train Their Employees In Data Analytics
Matej Kastelic/Shutterstock.com
Summary: Why is the number of people taking data analytics certification courses growing rapidly, and why does a vast majority of top organizations consider data analytics a critical factor of their business growth? Read on to know what benefits training your employees in data analytics brings businesses.

6 Reasons Why Every Business Should Train Their Employees In Data Analytics

In today’s world, data analytics is crucial for measuring success. With data analytics, companies can carefully examine the information from a specific marketing campaign, for example, and get guidance as to what’s performing well and what isn’t. By carefully analyzing important data, companies are better equipped for setting up future campaigns and goals.

However, data analysis is a complex field; it is both an art and a science. It takes the knowledge and expertise of a skilled data analytics professional to effectively analyze this important data. Most companies solve this problem by delegating this work to specialists and services outside of the organization. However, there is a growing sentiment among senior management that it is worth having specialists in this field on the staff, or at least have some of your employees undergo training that will help them better understand the intricacies of Big Data.

About 77% of top organizations, according to Edureka career guide, consider data analytics a critical factor of their business growth, and this percentage is only going to grow in the coming years. The number of jobs in the Big Data industry has increased by 106% from the year 2014 to 2017. The number of people taking data analytics certification courses is growing rapidly as well. This means that both employees possessing these skills and companies employing them are going to be more competitive in the coming years. But why exactly does it happen? What benefits does training your employees in data analytics brings businesses?

1. Cost Reduction

Big Data can help any organization, from a small business to a multinational corporation, both to harness their data and to draw multiple advantages from it. However, probably the biggest selling point is that it allows businesses to stay ahead of the bleeding edge of technology without heavily investing in it. There is no need to keep multiple staff and invest huge amounts of capital; instead, there is a monthly subscription one has to pay to obtain access to exactly the functionality one needs right now, neither more nor less. This not just saves resources but gives an organization and its members flexibility to add and subtract capabilities as the business evolves.

2. Faster And Better Decision Making

One of the main reasons of failure in business is wrong decisions, decisions that are suboptimal because they are based on incomplete information and decisions that are right but which are made too late to do any good. Big Data analytics adds enough speed to the equation to give businesses an opportunity to make decisions almost immediately, with the added benefit of allowing them to use new sources of data, which means more complete information to base one’s judgment on.

3. New Services And Products That Meet Customers’ Needs

Big Data analytics gives businesses an opportunity to evaluate and gauge the customer’s satisfaction and, eventually, give them exactly what they want and not what business owners believe they want. More and more companies create and adapt their products that meet customers’ expectations even before the customers realize they have these expectations.

4. Stability And Security

When the company’s data is stored in a dedicated data center, it can be better protected against viruses and ransomware, and that is something that is becoming increasingly important because these threats are becoming more and more common with each passing year. Thus, decision makers can take full advantage of their growing collection of data without having to worry about building up on-site security systems.

5. Performance Improvement

Big Data analytics gives you a precise picture of what works in your business and what doesn’t. Without it, you can come to the same conclusions, but they will always contain a high percentage of guesswork. Big Data, on the contrary, gives you definite information and explanation that cannot be interpreted in any other way.

6. Risk Minimization

Decisions made with the help of Big Data have a much lower likelihood of resulting in failure because they are based on rock-solid foundations such as customer behaviors, market trends and business performance. It can often find reflection in unexpected areas, such as hiring. Potential advantages in this area include more through outreach to relevant applicants, the greater overall efficiency of the hiring process, less time spent studying resumes and, finally, selection of better-qualified candidates that are better suited for their intended positions.

Whether you are an employee, who wants to improve your value for a potential or current employer or a business owner looking for ways to improve the decision making within your company, signing up for courses in data analytics seems to be one of the wisest things to do right now.