Data analytics is the process of using quantitative and qualitative techniques to extract useful information from data sets and to convert that information into insights, knowledge, and understanding. It involves the collection, cleaning, and analysis of large and complex data sets, as well as the use of tools and techniques to identify patterns, relationships, and trends that can inform decision making and guide business strategy.
There are several types of data analytics, including:
These types of analytics are not mutually exclusive and in many cases, a project may use several types of data analytics techniques to achieve the best result.
The key steps in the data analytics process include:
It’s worth noting that the steps in the process may vary slightly depending on the specific problem being addressed, but overall the process aims to extract insights from the data by defining the problem, collecting, cleaning, analyzing and interpreting the data, and communicating the results.
There are a wide variety of tools and technologies used in data analytics, including:
These tools and technologies are not mutually exclusive and different tools may be combined to achieve the best result in different situations. They are also continuously evolving, new tools are emerging and others are becoming obsolete.
Choosing the right data analytics method for your problem depends on the nature of the problem and the available data. A general approach to follow is:
Data analytics can be used to make better business decisions by providing insights and information that would otherwise be difficult to obtain. Here are a few examples of how data analytics can be used to improve business decision-making:
Data analytics and data mining are related but distinct fields, with different goals and methods.
Data analytics is the process of examining, cleaning, transforming, and modeling data with the goal of discovering useful information, drawing conclusions, and supporting decision-making. It’s a broad field that encompasses a variety of techniques, such as descriptive statistics, data visualization, and machine learning.
Data mining, on the other hand, is a specific set of techniques used to extract patterns and knowledge from large data sets. It’s often used to identify patterns in data that can be used for predictive modeling and statistical analysis. The goal of data mining is to discover hidden information or knowledge from large sets of data.
In summary, data analytics is a broader field that encompasses data mining, and it’s focused on the discovery of useful information, providing insights and supporting decision making. Data mining is a subset of data analytics and it’s focused on discovering patterns and knowledge from large sets of data.
Data analytics and big data are related but distinct concepts.
Data analytics is the process of using quantitative and qualitative techniques to extract useful information from data sets and to convert that information into insights, knowledge, and understanding. It involves the collection, cleaning, and analysis of data sets, as well as the use of tools and techniques to identify patterns, relationships, and trends that can inform decision making and guide business strategy.
Big data refers to the large, diverse, complex and growing data sets that are generated by various sources, such as social media, IoT devices, online transactions, etc. The volume, velocity, variety, and variability of big data make it difficult to process and analyze using traditional methods. Big data often requires specialized tools and technologies, such as distributed computing and NoSQL databases, in order to handle the scale and complexity of the data.
In summary, data analytics is the process of analyzing data, and big data refers to the large, diverse and complex data sets that are generated by various sources, both are related but distinct concepts. Data analytics is used to extract insights and knowledge from big data, and big data enables data analytics to handle large scale, diverse and complex data sets.
The four main types of analytics are descriptive, diagnostic, predictive, and prescriptive.
Data analytics can be used in many ways to improve healthcare and improve patient outcomes. Here are a few examples:
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