Unit 7 : Innovation through Analytics Flashcards
What is data?
- Is raw, unorganized facts that need to be processed
What is called as when data is processed, organized, structured or presented in a given context to make it useful
- Information
What is the characteristics of data?
- Simple and seemingly random
- Useless until it is organized
How does organization benefit from the data collected? ( 2 )
- The data being generated from large-scale enterprises
- The data generated from an individual
What is data analytics mean?
- Analyzing raw data in order to make conclusions about that information, to enhance productivity and business gain
What does extracted data needed to analyze different behavioral patterns ? ( 2 )
- Clean
- Categorized
- Tools used vary according to the organization or individual
- Processes of data analytics have been automated into mechanical processes and algoithms that work over raw data for human consumption
List out the examples of data analytics ( 4 )
- Fraud Management Report
- Live Tracking Report
- Sales Report and Future Target
- Google Analytics Report
Where is fraud management report generally used in?
1.Banking
- Find the fraud transactions, hacking, unauthorized access to the account and so on
Where is live tracking report generally used in?
- Transport Sectors ( Meru , Ola, Uber )
- Track the vehicles, customers’s requests, payment management, emergency alert and to find the daily needs and revenues and so on
Where is sales report and future target generally used in?
- All sectors to analyze their sales, revenues, and needs of customers
- And also used to determine the future target and so on
What can we get from google analytics report ?
- User visit counts, location, device
List out the 4 main factors which signify the need for Data Analytics
- Gather Hidden Insights
- Generate Reports
- Perform Market Analysis
- Improve Business Requirement
Explain more on gather hidden insights
- Hidden insights from data are gathered and then analyzed with respect to business requirements
Explain more on generate reports?
- Reports are generated from the data and passes on to the respective teams and individuals to deal with further actions for a high rise in business
Explain more on perform market analysis
- Market Analysis can be performed to understand the strengths and the weaknesses of competitiors
Explain more on improve business requirement
- Alaysis of data allows improving business to customer requirements and experience
Who can analyze data by applying various tool and techniques and gathering the required insights?
- Data Analyst
What does data analysts translate numbers into?
- Plain English
What are the skills required by Data Analyst?
- Statistic
- Data Collection
- Data Cleaning
- Data Analysis
- Hidden Insights Discovery
- Data Visualization
- Reports Generating
- Machine Learning
What does big data mean?
- A concept in Software Engineering which we use when we have a large sets of machine generated data, which in most of the cases in unstructured and not easy to use with traditional RDBMS concepts
What is the difference between big data and data analytics
- Data analytics are more of analyzing data which could be structured or unstructured
- While big data in most cases is unstructured and not easy to use with traditional RDBMS concepts
What does big data analytics means?
- Complex process of examining large and varied data sets, to uncover information that can help organizations make informed business decisions
What factor do we compete between structured and unstructed data? ( 5 )
- Format
- Storage
- Seachability
- Data Sizes
- Examples
List out the programming language for the below statement :
1. Leading analytics tool used for statistics and data modeling
2. Provide various machine learning and visualization libraries such as Scikit-Learn, TensorFlow, Matplotlib, Pandas, Keras
- R Programming
- Python