Data Analytics has long been used in the financial, retail and manufacturing sectors to help identify areas in which productivity can be maximised. More recently Data Analytics has started to be applied to the built environment with the thought that the process will identifying areas in which buildings can operate more efficiently.
Synapsys Solutions has a long history of providing data for companies operating various analytics platforms and is uniquely positioned to understand what makes a successful analytics process. It’s not just about crunching numbers.
So what is Data Analytics?
It is the mathematical (statistical) analysis of data to provide causal correlations (insights) that could typically not be made otherwise.
What does data analytics require?
• A High Volume of accurate and well described data.
• Appropriate engines and algorithms to analyse the data.
Where is analytics used?
It is certainly not a new invention, and is widely used in the financial, retail, production sectors. e.g. the data analysis of Tesco’s Club card data in the early 90’s giving them customer insight and eventually market dominance.
Why is analytics used?
To give insights into how productivity can be maximised e.g.. increasing financial or retail business, optimising complex manufacturing processes, increasing specific yields from chemical processes or fractionation.
Importantly – It is the actions borne out of analytics that give results
However it would be fair to say that DA has not been taken up within the built environment as well as expected, to understand why take a look at our Data Analytics basics information sheet.
If you would like to know more about Data Analytics, our products or to discuss a project please contact us on 01444 246128 or drop us an email to email@example.com