Data Analytics
What does unstructured data lack?
Lacks organization, which makes it hard to be searched by a computer program
Data Cleaning/Scrubbing
fixing errors in data ... flushing out useless information and identifying missing data
What question does prescriptive analytics answer?
how should we respond?"
Data Fusion
integrating data and knowledge representing the same real-world object in a more consistent, accurate, and useful representation than the individual sources in isolation
Big Data
large amounts of data collected from various sources (structured or unstructured), including social media, devices hooked up to the internet, videos, etc.
Data Mining
process of using statistical techniques to extract and analyze data from large databases to discern patterns and trends
Diagnostic Analytics
provides insight on the reasons certain results occurred
Velocity Based Value
rapid analysis capabilities in order to provide businesses with the right decision in time to achieve their customer relationship management objectives
Data analytics
retrieving data from data sources and then inspecting the data based on data type to facilitate the decision-making process
advantages of in memory analytics
speed and reduced costs
Data normalization
storing each data element as few times as possible after useless information is flushed out
What kind of data is maintained by relational databases?
structured data
Volume Based Value
the extreme amount of data captured over time
Veracity Based Value
trustworthiness of the data
Anomaly Detection
used to identify unusual patterns or deviations from expected results
How is anomaly detection possible?
with good data management
Text Mining
analyzes text from the web, often from comments made in forums or customer emails, through the use of machine learning in order to identify new topics
In-memory analytics
analyzing data from system memory instead of secondary storage for immediate results by removing the need for data preparation and without analytical processing delays
Variety Based Value
data exists in a wide variety of file types (structured, semi structured, etc)
What does data normalization strengthen
data integrity
Structured Data
data that is highly organized into predefined groupings and usually maintained in relational databases
Semi-Structured Data
data that is not as highly organized as structured data, but can be converted and stored in relational databases
Unstructured Data
data with little or no predefined organizational structure
Data Management
ensures data is of high quality and well governed before it can be reliably analyzed
What question does descriptive analytics answer?
"What is happening?"
What question does diagnostic analytics answer?
"Why is this happening?"
What question does predictive analytics answer?
"what is likely to occur?"
Predictive Analytics
Commonly used when a customer selects an item to purchase online and prepares to finalize the transaction.
Key technologies of Big Data
Data Mining Text Mining
4 Types of Analytics
Descriptive Analytics Diagnostic Analytics Predictive Analytics Prescriptive Analytics
When does data have veracity?
If the data is reliable and relevant, making it trust-worthy
Type of relational database
SQL (Structured Query Language)
Example of predictive analytics
The webpage then displays additional products that other customers purchased at the same time as the initial purchase being made
4 V's of Big Data
Veracity Based Value Velocity Based Value Volume Based Value Variety Based Value
Goal of Volume Based Value
a business to obtain more data on their customers, both recent and historical, for even greater insights
What does data analytics use to retrieve data from sources?
both qualitative and quantitative methodologies and procedures
How is unstructured data maintained?
by a non-relational databases (No SQL)
Descriptive Analytics
concentrates on the reporting of actual results.
Prescriptive Analytic
concentrates on what an organization needs to do for the predicted future results to actually occur.
