Module 1 Flashcards
Data Value Chain, Analytics Discipline, Analytics Profession, Decision Support System (60 cards)
They are conceivable as the new
resource in this digital world.
Data
The process of
refinement of data
Analytics
Complete process of creating, collecting, processing, analyzing, and extracting value from data within an organization.
Data Value Chain
Data creation fundamentally relies on
Human Involvement
How is data gathered and kept?
Data is systematically collected and
securely stored within a myriad of applications
employed by diverse organizations.
It involves the extraction and consolidation of data
Information
Where is information stored
into a single repository
The process which the data becomes
information involves:
Data Cleaning
Data Categorization
Data Transformation
Data Aggregation
Once the process is done what does data become?
Information
It involves finding patterns and trends.
Insights
Information enables organizations to answer the
question:
What happened?
This consolidated information in a single repository, organizations can now uncover patterns to address key questions:
Why did it happen?
What is likely to happen next?
It involves translating the analyzed data into practical imperatives and recommendations for future actions.
Imperatives
Empowered by insights, organizations can now take decisive actions informed by analyzed data in which addresses a pivotal question:
What steps should be taken next?
Policies for quality and compliance.
Data Governance
End-to-end oversight of data processes.
Data Management
Safeguarding data from unauthorized access.
Data Security
Responsible and ethical data handling.
Data Ethics
Building data systems.
Data Engineering
Managing structured data.
Data Warehousing.
Designing data systems.
Data Architecture
Extracting insights for decisions.
Business Intelligence
Responsible for summarizing
historical data.
Descriptive Analytics
Extracting insights.
Data Mining