Foundations: Data, Data, Everywhere Flashcards
Name the 6 phases of data analytics
- Ask
- Prepare
- Process
- Analyse
- Share
- Act
Describe the ASK phase of data analytics
Trying to understand the challenge to be solved or the key question you are aiming to answer. It is generally assigned to you by stakeholders, but asking many questions can lead to the core question and help along the way.
Describe the PREPARE phase of data analytics
Finding and collecting the data needed to answer the key question or other related questions. Data sources need to be identified, the data gathered and verified for accuracy and usefulness.
Describe the PROCESS phase of data analytics
Data is cleaned and organised. This involves removing inconsistencies, filling in missing values and, often, changing the data to a more user friendly format.
Describe the ANALYSE phase of data analytics
Data is analysed to discover answers and reach solutions. Often we are looking for relationships, patterns and trends, which can be discovered through tasks like calculating averages or counting items in categories.
Describe the SHARE phase of data analytics
Presenting findings to decision-makers through a report, presentation or data visualisations. Common data presentation tools include Google Sheets or Microsoft Excel, Tableau, and R.
Describe the ACT phase of data analytics
Data insights are put into action by, for example, implementing a new business strategy, making changes to a website, or any other action that solves the initial problem.
Define analytical skills
The qualities and characteristics associated with solving problems using facts.
What are four key data analysis skills
- A technical mindset
- Understanding context
- Data design
- Data strategy
Define a technical mindset
Having a technical mindset involves breaking processes down into smaller steps and working with them in an orderly, logical way.
Define data design
Data design is how you organise information.
Define understanding context
Understanding context is understanding the condition in which something exists or happens.
Define data strategy
Data strategy involves managing the people, processes and tools used in data analysis. Data strategy gives you a high-level view of the path you need to take to achieve your goals.
What is analytical thinking?
Identifying and defining a problem and then solving it by using data in an organised, step-by-step manner.
Name the five key aspects to analytical thinking
- Visualisation
- Strategy
- Problem-orientation
- Correlation
- Big-picture and detail-oriented thinking
Define analytical thinking
Identifying and defining a problem and then solving it by using data in an organised, step-by-step way.
Name the five keys to analytical thinking
- Visualisation
- Strategy
- Problem-orientation
- Correlation
- Big-picture and detail oriented thinking
Define visualisation from a data analytics perspective
The graphical representation of information using graphs, maps and other design elements.
Define strategy from a data analytics perspective
Strategising is the zoomed out perspective that helps data analysts see what they want to achieve with the data and how they can get there. It also helps improve the quality and usefulness of the data we collect.
Define what it means to be problem oriented from a data analytics perspective
An approach used to identify, describe and solve problems. The aim is to keep the problem top of mind throughout the data analysis process.
Define correlation from a data analytics perspective
Correlation is a relationship of sorts between pieces of data. For example, the correlation between how much coffee you drink and how much milk you need to buy. However, correlation does NOT equal causation: two pieces of data trending in the same direction are not necessarily related.
Define big-picture thinking from a data analytics perspective
Big-picture thinking is the ability to have a birds eye view of the problem at hand. Big-picture thinking helps you see possibilities and opportunities that you may not see if you were only focusing on an individual piece of the puzzle.
Define detail-oriented thinking from a data analytics perspective
Detail-oriented thinking involves focusing on the specifics, the pieces of a puzzle, to make progress.
Define ‘root cause’ and explain the five ‘why’s’
The root cause is the reason why a problem occurs. Using the five ‘why’s’ can help you discover the root cause of a problem because each ‘why’ gets you closer to the truth of the problem.
Define gap analysis
A method for examining and evaluating how a process currently works in order to get where you want to be in the future. Gap analysis helps you undestand the flaws in a current process and how they can be fixed.
What is data-driven decision-making?
Using facts to guide business strategy
What is the data ecosystem?
The various elements that interact with one another in order to produce, manage, store, organise, analyse and share data.
