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Data Analysis & Reports FAQs

What is a data analysis service?

A data analysis service is a data management process where data is gathered, processed, and presented to a business to help it improve its decision-making and optimize its performance.

What are the four types of analytics?

Data science is primarily about taking large quantities of data and turning them into something usable through modeling or visualization to improve business intelligence.

There are four types of data analytics:
  • Descriptive analytics
  • Diagnostic analytics
  • Predictive analytics
  • Prescriptive analytics
Typically a data scientist will use some combination of these to deliver a report with actionable insights.

What are data analytics services?

Some of the services typically offered by data analytics companies include:
  • Analytics road maps
  • Data mining
  • Knowledge discovery
  • Marketing automation
  • Data warehousing
  • Predictive models with artificial intelligence and machine learning
Data analytics companies use a variety of analytics platforms and have different methods of data engineering. Be sure to ask questions when bringing a data analyst professional onto your team.

How much should I pay for data analytics?

There are a few services you can receive from a data analytics company. The cost of this investment depends on a several factors including:
  • The amount of data your company needs.
  • Your data quality
  • Your organization’s internal capability and operational efficiency
  • The analytical detail you’re looking for
  • If artificial intelligence or machine learning needs to be used
  • How you will put your data assets into practice to gain a competitive advantage

What do data analytics companies do?

The specific role of a data analytics company will depend on what your business needs. In summary, a data analytics business will use big data with statistical analysis and data visualization to implement organizational changes and optimization.

Data analytics companies use available data to create statistical models that forecast outcomes and inform decision-making. The idea is that using this information-based, science-backed approach leads to better-informed business decisions and increases the business value.

Where can I hire a data analyst?

Find data analysts and data scientists through Upwork. They offer a variety of analytics solutions. Check out their case studies to see what they’ve worked on in the past.