Final answer:
Data analytics is the process of gathering, organizing, and analyzing data to make informed business decisions, involving both descriptive and inferential statistical methods.
Step-by-step explanation:
The term for the process of gathering, organizing, and analyzing large sets of data to gain insights and make informed business decisions is Data analytics. This process is fundamental in today's workforce and is essential for making informed decisions in society, politics, business, and various other domains. Data analytics involves collecting raw data through various methods, such as field research, observation, interviews, surveys, or questionnaires, and then organizing and interpreting this data through descriptive and inferential statistics. It also includes the synthesis of information from different sources to form new conclusions or deeper understanding of a topic.