Module 1 Flashcards
Data Value Chain, Analytics Discipline, Analytics Profession, Decision Support System
They are conceivable as the new
resource in this digital world.
Data
The process of
refinement of data
Analytics
Complete process of creating, collecting, processing, analyzing, and extracting value from data within an organization.
Data Value Chain
Data creation fundamentally relies on
Human Involvement
How is data gathered and kept?
Data is systematically collected and
securely stored within a myriad of applications
employed by diverse organizations.
It involves the extraction and consolidation of data
Information
Where is information stored
into a single repository
The process which the data becomes
information involves:
Data Cleaning
Data Categorization
Data Transformation
Data Aggregation
Once the process is done what does data become?
Information
It involves finding patterns and trends.
Insights
Information enables organizations to answer the
question:
What happened?
This consolidated information in a single repository, organizations can now uncover patterns to address key questions:
Why did it happen?
What is likely to happen next?
It involves translating the analyzed data into practical imperatives and recommendations for future actions.
Imperatives
Empowered by insights, organizations can now take decisive actions informed by analyzed data in which addresses a pivotal question:
What steps should be taken next?
Policies for quality and compliance.
Data Governance
End-to-end oversight of data processes.
Data Management
Safeguarding data from unauthorized access.
Data Security
Responsible and ethical data handling.
Data Ethics
Building data systems.
Data Engineering
Managing structured data.
Data Warehousing.
Designing data systems.
Data Architecture
Extracting insights for decisions.
Business Intelligence
Responsible for summarizing
historical data.
Descriptive Analytics
Extracting insights.
Data Mining
Processing Data Steps
Algorithms
Learn and improve form experience
Machine Learning
Responsible for analyzing data why
an event occurred.
Diagnostic Analytics
Responsible for identifying future
events based on historical data.
Predictive Analytics
Enhancing efficiency.
Optimization
Modeling real-world scenarios.
Simulation
Responsible for recommending
actions derived from descriptive and predictive analysis.
Prescriptive Analytics
Disciplines Under Data
- Data Governance
- Data Management
- Data Security
- Data Ethics
Disciplines under Information
- Data Engineering
- Data Warehousing
- Data Architecture
- Business Intelligence
Disciplines under Insights
- Data Mining
- Algorithms
- Machine Learning
Disciplines under Imperatives
- Optimization
- Simulation
Data Steward responsibilities:
- Develop
- Enforce
- Maintain
Data Stewards are involved in
Data Security and Data Usage
Also called as Data Gate Keepers
Data Stewards
Data Engineer responsibilities
- Design
- Construct
- Test
- Maintain
Data Engineers are involved with
ETL (Extract,
Transform, Load).
They also work in Data Repositories
Data Engineers
Data Scientist responsibilities
- Statistical Techniques,
- Create Statistical Models
Data Scientists are involved with
Applying Trends, Patterns (Current & Historical) to make Data-Driven Prediction.
Functional Analyst responsibilities
- Utilized Data
- Leveraging Derived Insights
What do functional analysts do?
They also validate
the insights of Data Scientist.
They are responsible for crafting the
definitive prescriptions that outline the
necessary actions for their clients or
stakeholders.
Functional Analyst
Analytics Manager responsibilities
- Develop
- Guide Data-Driven Projects
Analytics Manager’s job includes heavily with
Project Management – which includes the Initiation, Planning, Execution, Monitoring
and Closure.
They bring the
team together to ensure a successful
deliver of the project.
Analytics Manager
Analytics helps organizations to
provide data-driven
decisions.
What is Analytics called?
Decision Support System
Decision Support Systems systematically allow the business to have a
Data Value Chain
T or F
In the end, the end user has the final say whether to
act upon them or not.
True
T or F
Analytics are only used as a
tool for giving options
True
T or F
Analytics are only used as a
tool for giving commands to make
decisions.
False
Also used to drive digital process such as smart
appliances, self-driving cars, manufacturing.
Analytics
Data Engineers Related Jobs:
- ETL Developer
- Data Architect
- Data Warehousing Professional
- Big Data Engineer
Data Scientist Related Jobs:
- Statistician
- Statistical Modeler
- Advanced Analytics Professional
Functional Analyst Related Jobs:
- Research Analyst
- Human Resource Analyst
- Marketing Analyst
- Financial Analyst
- Operations Analyst
Analytics Managers Related Jobs:
- Chief Data Officer
- Project Manager
- Data Engineering Manger
- Data Science Manager
- Analytics Translator
