Information is stimuli that have meaning and are important for its receiver. When information is entered into and stored in a computer, it is generally referred to as data.
When information is compiled or used to better understand something or to do something, it becomes knowledge.
What is Information?
What is Database?
Systematic collection data is called a Database. It is specially organized for rapid search and retrieval. The database is organized in a way so it can be easily stored, retrieved, modified, or deleted as per need.
In computing, a database is an organized collection of data that is stored and accessed from the computer system.
What is Data Analysis
Data analysis or data analytics is a process of inspecting, cleansing, transforming, and modeling data. By doing Data Analytics we can discover useful information, informing conclusions, and supporting decision-making.
Types of Data Analytics
Data is any kind of variable for example persons or objects. Variables are of two kinds. Qualitative and quantitative variables.
What is Data?
Data is any kind of variable for example persons or objects. Variables are of two kinds. Qualitative and quantitative variables. Examples of quantitative variables are for example sales numbers month-wise as per below.
Quantitative Data Variables example is as below.
Month
SALES (IN DOLLARS)
Month
Month
Month
Course Outline of Business analytics
- What is Business Analytics?
- What is Business Intelligence (BI)?
- Why do we use Business Intelligence/Purpose of Business Intelligence?
- How does BI works?
- Applications of BI
- Who can use BI?
Business analytics refers to the skills, technologies, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business Analytics is the process of analyzing historical data by using statistical tools and technologies to get insights into businesses and improve strategic decision-making. Business Analytics helps to identify weak areas or gaps in businesses so decisions for improvement could be initiated or planned, which we will further study in the Business intelligence topic.
Business intelligence comprises the strategies and technologies used by enterprises for the data analysis of business information. BI technologies provide historical, current, and predictive views of business operations.
Business Intelligence (BI) software is an application designed to automate the retrieval, analysis, reporting, and presentation of business performance data, to help organizations, understand and visualize their key strengths and weaknesses. For example, the Power BI tool.
Business intelligence can help companies make better decisions by showing present and historical data within their business context.
Analysts can leverage BI to provide performance and competitor benchmarks to make the organization run smoother and more efficiently. Analysts can also more easily spot market trends to increase sales or revenue. When it is used effectively, the right data can help with anything from compliance to hiring efforts.
Businesses and organizations have questions and goals. To answer these questions and track performance against these goals, they gather the necessary data, clean it, analyze it, and determine which actions to take to reach their goals.
BI plays a key role in the strategic planning of organizations and can be used for multiple purposes. For example
- Measuring performance progress towards business goals.
- Track performance
- Optimize and transform operations
- Quantitative analysis
- Reporting and data sharing
- Identifying customer insights
- Analyze customer behavior
- Identify ways to increase profit
- Compare data with competitors
- Predict success
- Performance metrics and areas of opportunities
- Bring all data in one view
- Spot market trends
- Discover issues or problems
BI is for everyone. In past, only large enterprises managed to take the help of an expensive specialist to delve into BI but these days range of self-service BI tools are available that small or medium enterprises can also use to enhance and optimize their businesses and can track their performances towards their goals. Self-service BI tools are plentiful and affordable but most importantly they are easy to use.
What tools can be used for Business Intelligence and Data Analytics and their benefits
Business intelligence (BI) tools are types of application software that collect and process large amounts of unstructured data from internal and external systems, including books, journals, documents, health records, images, files, email, video, and other business sources.
These tools also help prepare data for analysis so that you can create reports, dashboards, and data visualizations. The results give both employees and managers the power to accelerate and improve decision making, increase operational efficiency, pinpoint new revenue potentials, identify market trends, report genuine KPIs, and identify new business opportunities.
These tools include key features such as data visualization, visual analytics, interactive dashboarding, and KPI scorecards. Additionally, they enable users to utilize automated reporting and predictive analytics features based on self-service. They help you in bringing all the relevant data together. Predictive analytics can help users to discover new trends and patterns.
Manual tasks are eliminated
Manual tasks are eliminated due to the presence of highly dynamic BI tools which automate processes. The tool updates your KPI dashboard itself with real-time data. Besides, you can automate the reporting process with specified time intervals and purely look at the results. Need a presentation? Simply drag-and-drop your values and see how you can easily create a powerful interactive dashboard that enables you to directly interact with your screen.
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Data Management
Data management is the practice of collecting, keeping, and using data securely, efficiently, and cost-effectively. Managing digital data in an organization involves a broad range of tasks, policies, procedures, and practices.
MODERN
ANALYTICAL
WORKFLOW
The Unique Role
of the Data Analyst
Data analyst is to assign a numerical value to these important business functions so performance can be assessed and compared over time. But the job involves more than just looking at numbers: An analyst also needs to know how to use data to enable an organization to make more informed decisions.
A Data Analyst collects, cleans, and interprets data sets to answer a question or solve a problem. They can work in many industries, including business, finance, criminal justice, science, medicine, and government.
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Donald T.Benjamin
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Donald T.Benjamin
Head Engineer
Donald T.Benjamin
Head Engineer