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Posts Tagged ‘data analytics’

Dashboard or a Scorecard or a Report or what?

I have been talking, thinking, searching on these terms for a while, and though there is a lot that is available on the terms, mostly I see that they are open to individual interpretations and organization use and perception. In future, I would attempt to bring together some thoughts around these terms starting with this article on the topic.

Do read!

Analysis and Analytics

In continuation with some definitions of Data Analytics and Analysis here, the following graphic came up after a small discussion of how and when the Analysis and Analytics components play a role.

analysis-analytics

Will write more about various methodologies and tools as I learn more!

Definition – Data Analytics

October 11, 2009 1 comment

A detailed definition of Data Analytics from Search Data Management Definitions. Here is what it says :

Data analytics (DA) is the science of examining raw data with the purpose of drawing conclusions about that information. Data analytics is used in many industries to allow companies and organization to make better business decisions and in the sciences to verify or disprove existing models or theories. Data analytics is distinguished from data mining by the scope, purpose and focus of the analysis. Data miners sort through huge data sets using sophisticated software to identify undiscovered patterns and establish hidden relationships. Data analytics focuses on inference, the process of deriving a conclusion based solely on what is already known by the researcher.

The science is generally divided into exploratory data analysis (EDA), where new features in the data are discovered, and confirmatory data analysis (CDA), where existing hypotheses are proven true or false. Qualitative data analysis (QDA) is used in the social sciences to draw conclusions from non-numerical data like words, photographs or video. In information technology, the term has a special meaning in the context of IT audits, when the controls for an organization’s information systems, operations and processes are examined. Data analysis is used to determine whether the systems in place effectively protect data, operate efficiently and succeed in accomplishing an organization’s overall goals.