Data is everywhere. Data is flooding. Data is in huge quantity. But how do I find insights out of this data? This is the big question which everyone asks in this data-driven world. This is the bigger question that shakes the minds of intelligent Data Scientists and Analysts. Finding insights is the most important work of any business and so become the major question in the life of a Data Scientist.
You need to first understand the term insights very clearly before diving deep into finding insights for your company. Data is in the raw form, usually unstructured. Information is the processed form that is structured and is taken out of the data using some techniques and is mainly depicted in the form of visualizations or reports. Finding insights is the next step after having the relevant information for your business. These are the conclusions and the analyzation you draw from the information you gathered out of your data and answers the bigger challenges of the Business. But still, the major question is how would you find insights out of your data?
Before looking to find insights out of your data you must know what your business seeks to find or discover. Knowing what is the aim and the bigger challenges of your Business you find that compass to move in the direction of finding insights. When you have clarity of your Business problems you could consequently focus all your energy in finding the answers to all those questions rather working aimlessly with the data.
Clarity is the biggest thing that you get while working with any organization. Knowing your organizational goals and accordingly trying to achieve those while working with the data is the best thing that you can do while working with data.
Predictions play an important role while finding insights out of your data. You should know how to predict the relevant key points out of your data. These predictions will not only provide a long-sightedness to your business but will also predict the most important things that are required by your business to answer. Only refining data and visualizing it will not extract the most important insights out of your data. You need to dig your data a lot and also the relevant data. The idea of relevant data will directly come to you once you realize your business aim and objectives.
Insights are the only important thing a business depends on. There is a need to spent time working more on finding insights when a majority of the work of today's data scientists goes in cleansing and sourcing. Cleaning Data using Automation is the best thing what the upcoming technology is providing us. There is a need to adopt those automation technologies for doing all the unproductive work while the productive time of the key people should go on in finding these meaningful insights.