Data Analytics Basics

Posted on Sun 30 May 2021 in blog • 1 min read •

Data is collection of facts that cane used to draw conclusions, make prediction and assist in decision-making.

Role in industry

Data science: the science of working with data. Three part: Machine learning, statistics, and analytics. Data Scientist: Creating new way of modeling and understanding the unknown by using raw data.

Data analysis: collection, transformation and organization of data in order to draw conclusions, make prediction and drive informed decision-making. Six steps of data analysis: ask, prepare, process, analyze, share, and act.

  1. Ask: Business Challenge/Objective/Question
  2. Prepare: Data generation, collection, storage, and data management
  3. Process: Data cleaning/data integrity
  4. Analyze: Data exploration, visualization, and analysis
  5. Share: Communicating and interpreting results
  6. Act: Putting your insights to work to solve the problem
  7. Evaluate: Checking if action based on data analysis is working.

Ecosystem: a group of elements that interact with each other. Data Ecosystem: Various elements that interact with each other in order to produce, manage, store, organize, analyze and share data.

Key analytical skills

  1. Curiosity
  2. Understanding Context
  3. Having a technical mindset
  4. Data design
  5. Data Strategy