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Business Analytics - Coggle Diagram
Business Analytics
Data Based Decision Making
What is the actual problem you want to solve?
What is the goal of this project?
How is the project going to be used?
Three Phases
Data Processing
Use of extensive exploratory analysis
Data Cleaning: Very important, not time constrained.
Variables
Remove columns/rows with missing data
Set values in relation to some value (like zero, median, mean, etc.)
Tools
Pandas
Matplotlib
Utlisation: The interpretation of results and translation into meaningful content for different audiences.
Data Treatment
Approach?
What available data?
Problem to be solved?
Value from solution?
Metrics to be analysed?
Analysis techniques to be used?
How will I present findings?
Big Data
The 3 Vs
Variety
Huge volume, variable sources, variety of formats
Audio
Sequences
Image
Time series
Text
Video
Numbers
Social network data
Velocity
Volume
NEEDS Veracity and Value
Information processing types
Batch Processing:
Accumulated and processed periodically. Needs scalable architecture with large storage capacity
Hybrid processing:
Combination of Stream and Batch, needing an architecture that accounts for both
Stream processing:
Immediate processing, needing low-latency architecture
Overview
Why is Data Analysis revolutionary?
It allows us to tell a story
It makes information more interpretable
It facilitates decision making