The simplest definition of Analytics is "the science of analysis". In reality, the word "Analytics" has not been properly defined by the professional community and may mean different things to different people. A simple and practical definition, however, would be how an entity(i.e., business) arrives at the most optimal or realistic decision from a variety of available options, based on existing data. Business managers may choose to make decisions based on past experiences or rule of thumb, or there might be other qualitative aspects to decision making; but unless there is data involved in the process, it would be considered beyond the purview of analytics. Another definition could be that Analytics is a field of study / profession that has applications in any field (business / social / political / home) where data is available.
Common applications of Analytics include the study of business data using statistical analysis in order to discover and understand historical patterns with an eye to predicting and improving business performance in the future.
by David Gould March 6, 2008
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by lisa dayniam March 15, 2015
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by foodforyourmom April 10, 2020
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Director: "What do you mean the product bombed? Didn't we do any market research?"
Marketing: "Well, in the end the research was all a bit analythical"
Marketing: "Well, in the end the research was all a bit analythical"
by cfm2 December 13, 2012
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by SirMonkeyButt19 April 14, 2013
Get the Aalyiah mug.A terrifying and disgusting combination of statistics and chemistry that will crush your social/sex life into nothingness. This is assuming, however, that said person had one before this class.
person1: Hey bro! last night was crazy! what did you end up doing?
person2: Oh, not much you know... sat at home and wanked it till the wee hours of the morning!
person1: Woah, why?
person2: Analytical chemistry took it to me bro.
person2: Oh, not much you know... sat at home and wanked it till the wee hours of the morning!
person1: Woah, why?
person2: Analytical chemistry took it to me bro.
by freebord4lyf January 21, 2010
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Aralynn is so beautiful and she is my Bestfriend
by Aralynn April 2, 2015
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