Personal Analytics

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.

3 thoughts on “Personal Analytics

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    Usage of Analytics has become hugely popular these days.Business Analytics is already being widely used and personal analytics is also steadily gaining in popularity.Thanks for explaining the concepts in details.It was great reading this post.Look forward to more such posts from you.

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