Data using
Analytics
Introduction
What is Data?
Facts and statistics collected
together for reference or
analysis.
Information in digital form
that can be transmitted or
processed further
Could be Structured or
Unstructured
Structured vs Unstructured Data
Structured data is highly specific and is stored in a predefined format, where unstructured
data is a conglomeration of many varied types of data that are stored in their native
formats. This means that structured data takes advantage of schema-on-write and
unstructured data employs schema-on-read.
What is Data
Analytics?
helps individuals and organizations make
sense of data.
the process of examining data sets in order
to find trends and draw conclusions about
the information they contain.
Data Science vs Data Analytics
Types of Data Analytics
Descriptive Analytics
Tells what happened in your business in the past week, month or year, presenting it as numbers and
visuals in reports and dashboards.
Diagnostic Analytics
Gives the reason why something happened.
Predictive Analytics
Determines the potential outcomes of present and past actions and trends.
Prescriptive Analytics
Offers decision support for the best course of action to get desired results.
Descriptive
Analytics
Application where data is
described and summarized
using basic statistical tools and
graphs to produce reports and
dashboards for decision making.
Describing Data
Describing Data
Statistical Tools for
Describing Data
measures of central tendency,
measures of variability (or spread)
frequency distribution.
Diagnostic Analytics
the process of using data to determine the causes of trends
and correlations between variables.
It can be viewed as a logical next step after using descriptive
analytics to identify trends.
Diagnostic analysis can be done manually, using an
algorithm, or with statistical software (such as Microsoft
Excel).
Ice Cream Kills
Diagnostic
Analytics
Tools for Diagnostic
Analytics
Data mining
Data drilling
Correlation analysis
Predictive Analytics
use of data to predict future trends and events. It uses
historical data to forecast potential scenarios that can help
drive strategic decisions.
refers to the use of statistics and modeling techniques to
make predictions about future outcomes and performance.
Predictive
Analytics
Predictive
Analytics
By incorporating tools from
artificial intelligence and machine
learning algorithms, it’s possible to
significantly increase the reliability
of weather forecasts.
Predictive
Analytics
Marketers at Amazon use
predictive analytics to determine
what other products a customer
might like. They take into account
the customer’s current search
habits.
Algorithms
Predictive Analytics
Linear Regression
Logistic Regression
Neural Network
Decision Trees
Naive Bayes
Prescriptive Analytics
the process of using data to determine an
optimal course of action. By considering all
relevant factors, this type of analysis yields
recommendations for next steps
Machine-learning algorithms are often used
in prescriptive analytics to parse through
large amounts of data faster—and often
more efficiently—than humans can
Prescriptive Analytics in
Action
Venture Capital: Investment Decisions
Investment decisions, while often based on gut feelings, can be strengthened by
algorithms that weigh risks and recommend whether to invest.
Sales: Lead Scoring
Lead scoring is the process of assigning a point value to various actions along the
sales funnel, enabling you, or an algorithm, to rank leads based on how likely they are
to convert into customers.
Content Curation: Algorithmic Recommendations
If you’ve ever scrocial media platform or dating app, you’ve likely experienced
prescriptive analytics firsthand through algorithmic content recommendations.
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