HAYDEE D.

RASONABLE

BSBA 1ST-SET C

1.What is Data Analytics?

 Data analytics is the science of analyzing raw data to make conclusions about
that information.

2.Why is Data Analysis Important in Handling business?

 Data analytics is important because it helps businesses optimize their
performances. Implementing it into the business model means companies can
help reduce costs by identifying more efficient ways of doing business and by
storing large amounts of data.
3. What is Data-informed Decision making?
 Data-informed decision-making gives reference to
the collection and analysis of data to guide decisions that improve success. Data-
Informed Decision Making is the ability to transform information into actionable
and verified knowledge to ultimately make decisions. ... Once the right analytic
tools are implemented and individuals are trained on analytics, the data will turn
to knowledge and will translate to better decisions
4. What is Data-Driven Decision Making?
 Data-driven decision-making is the process of using data to inform your decision-
making process and validate a course of action before committing to it. Data-
driven decision-making is defined as using facts, metrics, and data to guide
strategic business decisions that align with your goals, objectives, and initiatives.
People at every level have conversations that start with data, and they develop
their data skills through practice and application

5. What are the three types of Data Analytics and its Definition?
 Descriptive:  This is the most common of all forms. In business, it provides the
analyst with a view of key metrics and measures within the business.

 Predictive: Predictive analytics is all about forecasting. Whether it’s the

likelihood of an event happening in the future, forecasting a quantifiable amount
 or estimating a point in time at which something might happen – these are all
done through predictive models.

 Prescriptive analytics anticipates what, when and, importantly, why something

might happen. After considering the possible implications of each decision
option, recommendations can then be made regarding which decisions will best
take advantage of future opportunities or mitigate future risks. Essentially, Halo
Business Intelligence says, prescriptive analytics predicts multiple futures and, in
doing so, makes it possible to consider the possible outcomes for each before any
decisions are made.