What is Data Analytics?
Data Analytics
You can do this manually, but with data analytics, you are able to trace all the way back to the raw data. It will not forget any step you have taken.
And the beauty of data analytics is that it can repeat the entire process instantly when you update your raw data. It is like automation without programing codes.
But before you progress further, you need to know that data is not limited to numbers. Data is a collection of:
What is data?
But before you progress further, you need to know that data is not limited to numbers. Data is a collection of:
It could be written on papers, computer, electronic devices, inside a person’s mind, etc.
Now for the serious definition of data analytics
This is from investopedia.com: Data Analytics is the science of analyzing raw data in order to make conclusions about that information.
www.mastersindatascience.org says : Data analytics helps individuals and organizations make sense of data. Data analysts typically analyze raw data for insights and trends.
www.cio.com: Data analytics is a discipline focused on extracting insights from data.
Types of Business Data
Customer Data – Name, ID No, Gender, Age, DOB, Education Level, Job, Salary
Sales Data – Product Name, Product Code, Size, Colour, Qty, Sales Amount, COGS,
Manufacturing Location, Invoice Date
Accounting Data – Sales Revenue, Sales Cost, Expenses, Equipment Costs, Cash,
Investments, Shares, Billing Date
IT Data – Computer Brand, Serial Numbers, Seller, Owner Name, Configuration
HR Data – Employee Name, Employee No, Date of Employment, Department, Salary,
Age, Gender, Education Level
Market Data – Market Potential, Penetration Rate, Market Share, Location
Marketing Data – Campaigns, Campaign Date, Channels (Online and Offline, Retail),
Product Name, Product ID, Budgets, Profile of Customers, Markets, Country
Supply Chain Data – Shipment Data, Order Date, Quantity, Order Amount, Delivery
Data, Origin, Ordered Amount, Order Date
Product (BOM) Data – Material Name, Material Code, Colour, Source, Quantity, Cost,
UOM
Admin Data – Office Rent, Equipment cost, Furniture Cost, Utility Cost, Pantry Cost