Analytics has emerged as a powerful tool to make important decisions in many areas most notably in enterprise decision making. Marketing to strategy to credit risk assessment and fraud analyis, analytics is being used for minimizing risk in decision analysis process. Business analytics has emerged as an area that uses statistical tools and time series analysis for converting data to actionable information.
Some of the most important decisions that we must make in our life are related to our own life. Surprisingly, these decisions are made based more on our ignorance than on the data. Until recently, this was due to difficulties in getting data that could be analyzed and used in decision making. The situation has changed now and there are many sources of data that could be used to do personal analytics and make wise decisions related to our health, wealth, relationships, and profession.
Personal analytics is the process of personal decision making based on personal data. Given the emphasis on analytics in other areas, it is just a matter of time that we will see emergence of tools to help us using personal analytics.