The process of systematically analyzing data and statistics is called analytics. It helps you draw meaningful conclusions and understand what is happening behind the numbers. The insights you get can then lead you to take the appropriate action.
For instance, you can use analytics to examine data generated by your website’s traffic, your customers’ buying patterns, your day-to-day business activities, and whatever areas are relevant to your business. It’s an insightful tool when formulating a company’s strategic directions.
Other interesting terms…
