What is data analytics?
The process of collecting, organizing, and analyzing data to discover patterns and create actionable decisions. fileciteturn1file0
What does data analytics help businesses do?
Better understand data, identify important data, and use it for data-driven decision making. fileciteturn1file0
Examples of benefits of data analytics?
Increased efficiency, improved operations, enhanced customer retention. fileciteturn1file0
Examples of data analytics in companies?
Walmart (hurricanes & Pop-Tarts), Osco Drug (beer & diapers), Target (targeted ads). fileciteturn1file0
What are the three legs of the data analytics ‘three‑legged stool’?
Technology acumen, business acumen, statistics acumen. fileciteturn1file0
What are the three types of analytics?
Descriptive, predictive, prescriptive analytics. fileciteturn1file0
What is descriptive analytics?
Explains what has happened using historical data. fileciteturn1file0
What is predictive analytics?
Uses past data to predict future outcomes. fileciteturn1file0
What is prescriptive analytics?
Uses descriptive and predictive analytics to propose actions and determine the best option. fileciteturn1file0
Predictive analytics examples?
Starbucks store placement; FedEx predicting customer responses with 65–90% accuracy. fileciteturn1file0
What question did Google analyze in the case example?
“Do managers matter?” fileciteturn1file0
What data did Google use to answer the manager question?
Performance reviews and employee surveys; evaluating top and bottom quartiles. fileciteturn1file0
What did Google conclude about manager effectiveness?
Top vs. bottom managers showed differences in productivity, happiness, and turnover. fileciteturn1file0
Additional question Google asked?
“What makes a good manager?” requiring more data collection. fileciteturn1file0
Challenges in data analytics?
Big data volume, structured vs unstructured formats, data location and silos. fileciteturn1file0
Examples of unstructured data?
Text, images, sound. fileciteturn1file0
What is data visualization?
The graphical display of information to reveal insights. fileciteturn1file0
Examples of data visualization tools?
Tableau, Power BI, QlikView. fileciteturn1file0
What can Tableau do for users?
Sort, highlight, filter data; find trends and outliers; show stories in data. fileciteturn1file0
