Data Analytics#
Data Analysis#
Data Science#
the discipline of making data useful by creating new ways of modeling and understanding the unknown by using raw data
Statistics: make a few important decisions under uncertainty
Machine Learning: automate and make many decisions under uncertainty
Analytics: encounter unknowns, understand and make decisions
Analysis Process#
collect, transform and organise data to make conclusions, predictions and informed decisions
ask, prepare, process, analyse, share, act
- Decision Intelligence
combine applied data science and social and managerial science
Data Ecosystem#
elements that interact with one another to produce, manage, store, organise, analyse and share data
hardware, software and people who use those tools
cloud is important in the data ecosystem
DDDM#
Data-Driven Decision-Making
using facts to guide business strategy
define the business need, find data, analyse and uncover trends, patterns and relationships
result can build on the past or branch into a new business direction
- Subject Matter Experts
people familiar with the business problem
crucial to include insights from them when making decisions