Data Analysis Flashcards
6 steps of data analysis process
appasa
A- for ask
P- for prepare
P- for process
A- for analyze
S- for share
A- for act
what is people analytics
it is the process of collecting and analyzing insights of an organization’s employees and how how they experience their work lives to improve how the company operates.
what is business analytics
the use of math and statistics to derive meaning from data in order to make better business decisions.
types of business analytics
descriptive
predictive
diagnostic
prescriptive
what is descriptive business analytics
collect and analyze historical data to identify trends and patterns
what is predictive analytics
predictive analytics uses historical data to forecast future outcomes
what is diagnostic analytics
collect and analyze historical data to identify the root cause of a problem
what is prescriptive analytics
collect and analyze historical data for testing and use of other techniques to determine which outcome will yield the best result in a given scenario.
difference between business analytics and data science
business analytics extracts meaningful insights from data to guide organizational decisions.
data science is focused on turning raw data into meaningful conclusions through using algorithms and statistical models.
difference between a business analysts and a data scientist
Business analysts participate in tasks such as budgeting, forecasting, and product development, while data scientists focus on data wrangling, programming, and statistical modeling.
what is data?
data is a collection of facts
what is data analysis?
is the collection, transformation and collection of data in order to draw conclusions, make predictions and drive informed decision making.
what is data analytics
data analytics is the science of data
Data-driven decision-making
is using facts to guide business strategy
