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Data analysis is a process of inspecting, cleansing, transforming and modeling data with the goal of discovering useful information, informing conclusions and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science, and social science domains. In today's business world, data analysis plays a role in making decisions more scientific and helping businesses operate more effectively.
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between- an insurance policy holder and an insurer or assurer, where' the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.Modern life insurance bears some similarity to the asset management industry and life insurers have diversified their products into retirement products such as annuities.
In the techno-era era of J, technology is being used extensively in all works. Technology has established its secret rule everywhere' from education to business. Due to the increasing use of technology, business has become easier today, the more its data has increased. In such a situation, saving and analyzing this data is becoming quite a challenging task.
Data analytics experts deal with these challenges of data analysis.
Due to the increasing scope of business, the combination of computer and IT in the business world has led to many such areas, which have a lot of career prospects. One of these fields is data science. Data science professionals are known as data analysts in the business world. Data science is an area which, due to its newness and nature of work, has become increasingly popular among the youth of the country and abroad.
The demand for data analysts is increasing rapidly in the business sections of the country, but their needs are not being met. One reason for this is the lack of awareness among the youth about data science and the other reason is the low number of institutes that teach this subject. In addition to some centers of IIMs and IITs, this course is being run in some private institutions in the country. By specializing in data science, you can find positions in Data Analyst, Senior Information Analyst, Information Officer, Data Officer, Software Tester, Support Analyst and Business Analyst etc.
Today we are in the era where' figures are the figures around us. Communicating with data is an art and data science is a practical form of this art. Data science helps us understand the implications of data. Data science is born out of a combination of big data (big data) and information technology (IT). It is a science that, through data, assesses the present-day situation and shows the possible way of the future. According to the Howard Business Review, gathering the right kind of data is not enough for success, but your success lies in developing an analytical tool that focuses on business results.
Many companies have made considerable positive improvements to the company's results after extensive collection and analysis of their customer data. Google and Amazon are giving a tremendous challenge to their business rivals through data mining. They are aware of each of their customers and they also know which sites their customers visit during their initial clicking or which items are most purchased by their credit card. Data science has evolved from a combination of business knowledge, computer science, and statistics. Data analysis in data science is divided into three parts. The data is first organized, then the data is packaging and finally the data is delivered. Assembling and storing data, the Judum function comes under data organization.
Data analysts are called
professionals who have good knowledge of programming, statistics, applied mathematics and computers. They have the ability to visualize any type of data better. The Indian Institute of Management addresses data analysts as Data Minors. In the corporate world, they are also known as data analysts and data scientists. Data analysts closely scrutinize important information from the confusing and complex data provided by various sectors.
They also find out what is causing the company's situation to decline or what new venture will be beneficial for the company.
Mathematical knowledge is necessary to become a data analyst. It is necessary for a data analyst to take a course related to business analytics, which requires a Bachelor degree in Engineering or Mathematics or Statistics. B.Sc. with Maths or Statistics Or M.Sc. Or applicants with BE or B.Tech degree in engineering will be eligible for it. Some programs such as Advanced Certificate and Advanced Program require a bachelor's degree or master's degree in engineering or maths or statistics, along with two years of experience. The institute itself conducts admission and conducts admission.
The demand for data analysts in companies has increased rapidly over the years. The act of data analytics or business analytics has emerged as a new lucrative field of career.
According to the survey conducted by NASSCOM CRISIL, India will need 2 lakh data professionals by 2015.
According to the report of NASSCOM and Blue Ocean Market Intelligence, the country will need two lakh data scientists (analysts) in the coming few years. According to a NASSCOM report, by 2018, data analytics business in India will be $;;;;;;;;;;;;;;;; 2.3 billion.
Database and Information Integration
Cloud Computing
Natural language processing
Social and information network
Web information access
Business / Data Analysis
While working as a data analyst, one gets a salary of 50-70 thousand rupees per month easily in the initial days. After five to six years of experience, this salary can reach lakhs of rupees. The level of salary also depends on the size of the company and its scope of work.
Short term courses in business analytics specialization are being offered by many institutes in the country for data analysts. But recently IIM Kolkata, ISI Kolkata and IIT Kharagpur have jointly started a two-year fulltime Post Graduate Diploma in Business Analytics program.
Advanced Certificate Program in Business Analytics
Executive Program in Business Analytics
Advanced Business Analytics and Business Optimization Program
Masters in Management (Technology Management and Business Analytics)
Postgraduate Certificate Program in Market Research and Data Analytics
Post Graduate Diploma in Business Analytics
Due to the increasing use of Internet and technology, e-commerce and social media have expanded very rapidly. In today's time, people are making extensive use of internet everywhere' from metro city to small and big cities. A lot of the time people visit websites such as social media and e-commerce. Apart from these, today most of the big companies are becoming internet friendly to keep themselves in the market. With the increasing use of the Internet and the combination of computer and information technology, the scope of data has expanded significantly, which has become very important to save and its correct analysis. Only by properly analyzing the data can the company understand the likes and dislikes of its customers and by improving and amending it, it can give a new dimension to its business. Because of this, the demand for expert data analyst for data analysis has increased very fast. In such a situation, by becoming a data analyst, youth can secure their future. But it is important for a data analyst to have knowledge of mathematics and statistics and a good understanding of business, along with data analysis, because the main objective of data analysis is to improve the business. In such a situation, there will be a good understanding of business, only then better data analysis can be done. If the software has better knowledge then it will prove to be a plus point for the data analyst. If all these qualities are in a youth, then he can close the eyes and choose this area for his better future.
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