Topic outline

  • What is Data Analytics?

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    • What and Why 

      In this subtopic, we will investigate what data analytics is and what the various phases of a data analytics project involves.

      What is Data Analytics? It is generally agreed that data analytics refers to the process of examining datasets to draw conclusions about the information they contain. Data analytic techniques enable you to take raw data and uncover patterns to extract valuable insights from it. Data analytics is often referred to as the science of analysing raw data to make conclusions about that information.


      Video - What is Data Analytics?

      In this video you will hear from Jen, an experienced data analyst, who gives her take on what data analytics is. As you are watching this video, note down the three areas she divides data analytics into and what the definition of these phases are.

      Presentation length: 3m 15s

    • File icon
      Video Script - What is Data Analyst? Told by a Data Analyst File

    • The three areas of data analytics as outlined in the video are:

      • Descriptive analytics – tells us what happened in the past but gives no insights into why.
      • Predictive analytics – uses the knowledge of the past to tell us what is going to happen in the future.
      • Prescriptive analytics – tells us the best and most effective ways to do business.


    • Video - Interview with Peter Inge

      In the final part of this topic, we’d like to highlight just how widespread the use of data analytics is in todays’ modern business world. Data analytics have been used in almost every business sector imaginable including the creative arts, consumer goods, energy, financial services, healthcare, manufacturing, sports, and transport and logistics. Now many of you might be thinking that most of these data analytics projects are primarily US or Europe centric, you couldn’t be more wrong. In the following video, we hear from Peter Inge, the CEO and founder of Ingenious Insight Analytics & Insights Strategy | Ingenious Insight | Brooklyn Park, a local South Australian data analytics company. He details several projects that his company have undertaken from right here in Australia. As you are watching the video, see if you can come up with other ideas on how data analytics could help businesses.

      Presentation length: 9m 46s


      Did you manage to come up with any ideas of how data analytics might have helped businesses improve? We have included a reading below with more examples of how data analytics have been used to improve business outcomes. It's worth noting how these case studies are from very different types of businesses and how widespread the use of data analytics is becoming.

    • Learning Activity 1.1 - Common Data Analytics Terms

      In this activity, we would like you to define some of the common buzz words you will find as you learn more about data analytics. 

      Suggested Procedure:

      1. From the list of terms provided to you below, choose one that you would like to define. Before doing your research to define the term, check the Glossary tool to make sure that no one has added an entry for that term as yet. 
      2. If no one has defined the term, do some research using reputable sources, to come up with a brief (no more than 100 words) definition.
      3. Once you have defined the term, go to the Glossary tool and select 'Add entry'.
      4. Title your entry using the term.
      5. In the description field, define the term in your own words.
      6. Make sure to include a link to the original source of which you paraphrased from. You don't need to worry about correctly referencing the source for this activity, but be sure to correctly reference your sources when completing your assessment tasks!
      7. Save your entry and review the entries of others.

      Terms

      • Artificial Intelligence (AI)
      • Machine Learning (ML)
      • Data Science
      • Big Data
      • Database
      • Data Warehouse
      • Data Lake

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