Introduction to Data

Analytics
Exploring the world of data, extracting insights, and driving informed
decisions.
Big Data Defined
Big data refers to the massive and complex datasets that organizations
collect and analyze to uncover valuable insights. It encompasses
structured, semi-structured, and unstructured data from various
sources, requiring advanced tools and techniques for effective storage,
processing, and analysis.
Structured and Unstructured Data
Structured Data
Organized, tabular data that
fits neatly into rows and
columns, such as spreadsheets
and relational databases. This
data has a predefined
structure and is easy to search,
filter, and analyze.
Unstructured Data
Unorganized and complex data
that doesn't fit into traditional
data models, like emails, social
media posts, images, and
videos. This data lacks a
predefined structure, making
it more challenging to store,
manage, and analyze.
Combining Approaches
By leveraging both structured
and unstructured data,
organizations can gain a more
comprehensive understanding
of their data and make more
informed decisions.
Data Analytics
Defined
Data analytics is the process of extracting meaningful insights from
large datasets to inform strategic decision-making. It involves
collecting, organizing, and analyzing data to uncover patterns, trends,
and relationships that can drive business growth and innovation.
Data Analytics in Action: Transforming
Industries
1. Netflix uses data analytics to personalize content recommendations and predict viewer
preferences, optimizing their streaming service and driving subscriber growth.
2. Amazon leverages data analytics to understand customer behavior, target personalized product
suggestions, and streamline their logistics and supply chain.
3. Uber relies on real-time data analytics to optimize ride-sharing routes, dynamic pricing, and
driver dispatch, providing a seamless transportation experience.
The Role of the Data Analyst, Data
Scientist, and the Accounting Profession
Data Analyst Data Scientist Accounting Profession
Gathers, processes, and Develops advanced statistical Leverages data analytics to
analyzes data to uncover and machine learning models drive financial insights and
meaningful patterns and to predict future outcomes. strategic business decisions.
trends.
The Data Analytics Process
1 Define
Clearly identify the problem or question to be answered.

2 Collect
Gather relevant data from various sources.

3 Analyze
Explore, transform, and model the data to uncover insights.
Data Collection and Preprocessing
1 Data Sources 2 Data Cleaning
Structured, unstructured, internal, Handling missing values, outliers,
and external data. and inconsistencies.

3 Feature Engineering
Creating new variables to enhance the predictive power.
Exploratory Data Analysis

Data Visualization Statistical Summaries

Identifying patterns, trends, and relationships Calculating measures of central tendency and
in the data. dispersion.
Statistical Modeling and Inference
Regression Analysis Hypothesis Testing
Predicting a continuous target variable Evaluating the statistical significance of
based on one or more predictors. relationships or differences in the data.
Predictive Analytics and Machine Learning

Classification Regression Clustering

Predicting categorical Forecasting continuous Grouping similar data points
outcomes, such as customer variables, such as sales or together to uncover patterns.
churn or fraud detection. revenue.
Data Life Cycle

Acquisition Storage Processing Governance

Collecting data from Storing data securely Transforming, Establishing data
diverse sources, in the cloud, with analyzing, and governance policies,
including databases, encryption and access visualizing data to standards, and
spreadsheets, and controls to ensure uncover valuable auditing processes to
APIs, to build a data integrity and insights and support ensure data quality,
comprehensive data privacy. informed decision- security, and ethical
set. making. use.
Elements of a Data-Driven Culture

Data Literacy
1 Empowering employees to understand and interpret data

Transparency
2 Sharing data and insights openly across the
organization

Experimentation
3 Fostering a culture of curiosity and testing
new ideas

Building a successful data-driven culture requires a foundation of data literacy, where employees at
all levels can understand and make informed decisions using data. This is paired with a spirit of
transparency, where data and insights are shared openly to drive collaboration and alignment.
Finally, a culture of experimentation encourages curiosity and the testing of new ideas to
continuously improve and innovate.