Business Analytics and Intelligence

Business Analytics and Intelligence

• Business analytics refers to the statistical methods and computing technologies for processing, mining, and visualizing data to uncover patterns, relationships, and insights that enable better business decision-making.

Data Management

• Data management is the practice of ingesting, processing, securing, and storing an organization's data.
• It is used for strategic decision-making to improve business outcomes.

Data Mining

• Data mining, also known as knowledge discovery in data (KDD), is the process of uncovering patterns and other valuable information from large data sets.
• It is a significant component of big data analytics.

Data Warehouse

• A data warehouse, or enterprise data warehouse (EDW), is a system that aggregates data from different sources into a single, central, consistent data store.
• It supports data analysis, data mining, artificial intelligence (AI), and machine learning (ML).

Data Visualization

• Data visualization is the representation of data by using graphics such as charts, plots, infographics, and even animations.
• It communicates complex data relationships and data-driven insights in a way that is easier to understand, especially for non-technical staff.

Machine Learning Algorithm

• A machine learning algorithm is a set of rules or processes used by an AI system to conduct tasks, often to discover new data insights and patterns, or to predict output values from a given set of input variables.

Roles in Business Analytics

• Data Scientists: responsible for managing algorithms and models that power business analytics programs, excel at problem-solving, and usually need to know several programming languages.
• Data Engineers: create and maintain information systems that collect data from different places, clean and sort it, and place it in a master database.
• Data Analysts: play a pivotal role in communicating insights to external and internal stakeholders, collecting and analyzing data sets, and building data visualizations.