Data
Review Analysis
Data
Analytics
Data the of data to make
analytics is science
analysing raw
conclusions about that information As humans deal
. can no
longer
of
with the sheer volume data
generated , we now
rely on data
analytics to help us
manage
data
.
Importance
Like business the better
many developments
in
,
objective is
decisions leading to better profit. Data
analytics can help a
business :
1.
optimize its performance
11 .
perform more
efficiently
III . maximize profit
Iv .
make more
strategically guided decisions
not limited to just
Data
Analytics uses are
merely businessess
aiming to maximize profits/minimise costs
.
Organisations where data
needed include the Central Bank of Ireland
analysts are and the
CSO .
Data Analytics .
vs Business
Analytics vs
. Data Science
Data Science tends to be at the forefront , producing new
ways
of
analysing data
. It is based on math ,
thus Data Scientists
usually come from a math background -
Data
Analytics is the
analysis and management of the data
,
using the different techniques available (ie visualization techniques
,
such as
graphs) .
Data
Analysts can be someone who has a math
background or a specilist in a software
.
Business Analytics is similar to Data but
Analytics ,
in a
business context. Business Analysts usually have
Business .
background
The three of them can act in Functions at times
each other's ,
however , the data deal with tends to be different context
they in
and complexity.
Business Analytics & Corporate Strategy
Investing in business intelligence and analytics Term used
and
using information as a
strategic resource can give interchangebly
relevant information and
management knowledge about with Data
which business processes to develop
strengthen and in
Analytics
relation to the
company's strategy and competitor's here
activities
strengths and .
Major Functions :
·
Data
Reporting ·
Data Activation
Analysis and Visualisation Data
Data
Integration
· ·
·
Data Collection and Management
,