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What is the importance of data analytics for a business?

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Data Analyst with 10 years of experience in Fintech, Product ,and IT Services

### Importance of Data Analytics for a Business 1. **Better Decisions:** Makes smarter choices based on data.2. **Understand Customers:** Knows what customers want and like.3. **Improve Efficiency:** Finds ways to save time and cut costs.4. **Stay Competitive:** Spot trends and opportunities before...
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### Importance of Data Analytics for a Business 1. **Better Decisions:** Makes smarter choices based on data.2. **Understand Customers:** Knows what customers want and like.3. **Improve Efficiency:** Finds ways to save time and cut costs.4. **Stay Competitive:** Spot trends and opportunities before competitors.5. **Manage Risks:** Predicts and avoids potential problems.6. **Track Performance:** Measures how well the business is doing. ### Summary:Data analytics helps businesses make better decisions, understand customers, improve efficiency, stay ahead of competitors, manage risks, and track performance. read less
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