Data Analytics (DA) is the process of examining data sets in order to find trends and draw conclusions about the information they contain. Data analytics is done with the aid of specialized systems and software. In this series participants will learn the nuances of business statistics, how business analytics helps improvements in businesses and what is big data, its relevance in the current world driven by the overwhelming presence of social media.
Business statistics help companies understand their present and predict their future. This can save organizations money, help them find new opportunities, and improve their efficiency. Medium- to large-scale businesses often hire specialists in business statistics to help them with their analyses. In this session participants will learn the different statistical methods and how to make decisions using these statistics.
In this session participants will be able to appreciate why managers need to understand basic data analysis methods and also how to recognise when it is appropriate to use statistical methods and when it is not. Traditional data analytics refers to the process of analyzing massive amounts of collected data to get insights and predictions. Business analytics takes that idea, but puts it in the context of business insight, often with prebuilt business content and tools that expedite the analysis process.
Big data is a term applied to data sets whose size or type is beyond the ability of traditional relational databases to capture, manage and process the data with low latency. This talk will cover the aspects of the sources of big data, how organizations harness their data and use it to identify new opportunities. Businesses that rely on quick, agile decisions to stay competitive use big data analytics extensively. A overview of what is big data, technologies used in analysis of big data and some use cases of organisations which use big data analytics would be the agenda for the talk.