What is the use of python data analysis?

Data analysis refers to using appropriate statistical methods to analyze a large amount of first-hand and second-hand information collected in order to maximize the development of the functions of the data and bring into play the role of the data. It is the process of studying and summarizing data in detail in order to extract useful information and form conclusions.

Case (Recommended learning: Python video tutorial)

Suncorp- Metway uses data analysis to achieve smart marketing

Suncorp-Metway is an Australian diversified financial services group that provides general insurance, banking, life insurance and financial services. It has 5 business units and manages 14 products, supported by corporate and shared services divisions, with operations in Australia and New Zealand working with more than 9 million customers.

The company's mergers and acquisitions in the past ten years have increased its customer base by 200%, which has greatly increased the complexity of customer base data management. If it is not solved well, it will have a negative impact on the company's profits. To this end, IBM provides a set of solutions, including: IBM Cognos 8 BI, IBM Initiate Master Data Service and IBM Unica.

After adopting this solution, Suncorp-Metway achieved significant results in at least the following three businesses:

1. Significantly increased market share without increasing marketing expenses;

2. It can save approximately $10 million per year in integration and related costs;

3. Avoid mailing the same letters repeatedly to the same households and eliminate redundant systems, thereby simultaneously reducing direct mail and operating costs.

It can be seen that Suncorp-Metway uses this solution to integrate data from multiple isolated sources to achieve smart marketing, which plays a very positive role in controlling costs and increasing profits.

The data analysis process needs to be appropriately applied throughout the entire life cycle of the product, including market research to after-sales service and final disposal, to improve effectiveness. For example, J. Kepler found out the laws of planetary motion by analyzing the observation data of the planet's angular position. For another example, the leader of a company must conduct market research and analyze the data to determine market trends and formulate appropriate production and sales plans. Therefore, data analysis has a very wide range of applications.

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