Read the following paragraph, and then respond the next three questions referring to it:
In today's data-driven world, analytics play a crucial role in decision-making across various industries. Analytics refers to the process of collecting, processing, and analyzing data to derive meaningful insights and make informed decisions. Whether it's a retail giant optimizing its supply chain, a healthcare provider improving patient outcomes, or a financial institution detecting fraudulent transactions, analytics are the driving force behind these advancements.