Data Analytics Module 1

Dataset

A collection of data that can be manipulated or analyzed as one unit

Data science

A field of study that uses raw data to create new ways of modeling and understanding the unknown

Gap analysis

A method for examining and evaluating the current state of a process in order to identify opportunities for improvement in the future

gap analysis

A method for examining and evaluating the current state of a process in order to identify opportunities for improvement in the future

5 why's

A technique in which you repeatedly ask the question "Why?" to help peel away the layers of symptoms that can lead to the root cause of a problem

data-driven decision making

Using facts to guide business strategy

data design

is an extension of your technical mindset. It deals with how information is organized

visualization

the graphical representation of information

Data strategy

the management of the people, processes, and tools used in data analysis

5 aspects of analytical thinking

visualization, strategy, problem-orientation, correlation, big-picture and detail-oriented thinking

Data analyst

Someone who collects, transforms, and organizes data in order to draw conclusions, make predictions, and drive informed decision-making

Technical mindset

The ability to break things down into smaller steps or pieces and work with them in an orderly and logical way

Understanding context

The analytical skill that has to do with how you group things into categories

technical mindset

The analytical skill that involves breaking processes down into smaller steps and working with them in an orderly, logical way

Data analysis

The collection, transformation, and organization of data in order to draw conclusions, make predictions, and drive informed decision-making

context

The condition in which something exists or happens

Data visualization

The graphical representation of data

Analytical thinking

The process of identifying and defining a problem, then solving it by using data in an organized, step-by-step manner

Analytical skills

The qualities and characteristics associated with solving problems using facts

root cause

The reason why a problem occurs

Data ecosystem

The various elements that interact with one another in order to produce, manage, store, organize, analyze, and share data