Digital Transformation Overview

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Questions and Answers

What characterizes the transition in digital transformation from the past to the current scenario?

Movement from generative data to non-generative data

Increased reliance on physical servers instead of cloud technology

Shift from IT-centric to business-centric frameworks (correct)

Focus solely on transactional data without analytics

What is the significance of the growth statistic that 90% of the world's data was generated in the last two years?

It reflects the diminishing role of data in business

It indicates the rapid expansion of data generation capabilities (correct)

It shows a decrease in data relevance over time

It signifies a stable trend in data creation since 2010

What term describes the combination of Big Data and analytics to produce useful insights?

Insight Data

Smart Data (correct)

Data Mining

Small Data

What are systems of engagement and insight primarily used for in digital transformation?

Capturing and analyzing real-time data Signup and view all the answers

What is the primary role of a data analyst?

To examine large datasets for patterns and trends Signup and view all the answers

Which of the following best describes the role of a Data Analyst within a business?

Analyzing data to provide actionable insights Signup and view all the answers

Which of the following is a benefit of data visualisation?

It allows for easier identification of patterns and correlations Signup and view all the answers

How does the Internet of Everything (IoE) affect the physical world?

It transforms the physical world into an intelligent environment Signup and view all the answers

What will the estimated increase in data generation look like from 2023 to 2025?

An increase from 120 zettabytes to 181 zettabytes Signup and view all the answers

Why is visual information more effective than text?

The brain processes images significantly faster than text Signup and view all the answers

What tool do data analysts use to share their findings?

Visualisation tools Signup and view all the answers

Why is it incorrect to associate Big Data solely with its size?

Big Data is about the value derived from analyzing it Signup and view all the answers

What does data visualisation primarily involve?

Employing visual elements such as charts and graphs Signup and view all the answers

How does Spotify utilize data analytics?

By creating personalized playlists through machine learning Signup and view all the answers

Which statement about data analytics is correct?

Data analytics involves discovering valuable insights from data Signup and view all the answers

What is one of the primary objectives of data analysis?

To identify market trends and customer preferences Signup and view all the answers

Study Notes

Digital Transformation

Digital transformation is one of the most transformational times in human history.
This involves changes in how IT-centric systems are evolving to a more business-centric approach.
The past involved IT-centric systems of record, traditional applications, transactional data and reporting and the Internet, all non-generative.
The current model involves more business-centric strategies.
Systems of engagement and insight are now more common, as are cloud-native applications.
Data streams and the internet of everything are key elements of this shift.
Generative approaches are also being employed.

Data Creation Growth Statistics

402.74 million terabytes of data are created daily.
This includes data that is newly generated, captured, copied or consumed.
In zettabytes, this equates to approximately 147 zettabytes per year, 12 zettabytes per month, 2.8 zettabytes per week or 0.4 zettabytes per day.
The amount of data generated annually has been increasing year-over-year since 2010.
90% of the current global data was generated in the past two years.
- in 2010 alone, there were just 2 zettabytes.
- In 13 years, this has grown 74 times.
120 zettabytes of data was made in 2023, projected to grow over 150%in 2025, hitting 181 zettabytes.

Demand for Data Analysts

A high demand for data analysts exists in the current job market.
The role of a data analyst is to analyze and gain insights from large data sets.
Data analysts are high in demand globally.

The Internet of Everything

The Internet of Everything (IoE) is transforming the world into an intelligent world. This now includes devices that are data-enabled.

What is Big Data?

Big data is a large and complex set of data that is difficult to process using traditional database management tools.
Challenges include capture, curation, storage, search, sharing, analysis, and visualisation.
Big data resembles small data, though is considerably larger.

Big Data vs Smart Data

Big data is not about quantity of data, it's about its qualitative value.
By adding analytics, these large data sets develop into smart data.

Data Visualisation

The visual display of data, like charts or graphs makes data easily comprehensible.
This aids to uncover patterns, trends, and associations within the data
Visualisations are used to display findings to key stakeholders, leading to data driven decision-making.

Types of Data

Structured Data - data with a fixed structure like Excel spreads or databases.
Semi-Structured Data - data without a fixed structure but contains tags or other markers, such as emails.
Unstructured Data - data without any recognisable patterns or structure, such as images or audio.

Data Analytics - The Process

Data Analysis involves steps such as aggregating, enriching, presenting, and informing the basis for decisions.
It includes a range of tools, both database, data mart, data warehouses, and ETL.
These help to integrate data from various sources.

Data Analytics - Tools

A variety of tools are available to aid data analysis, including various programming languages(e.g. PYTHON, R, SQL).
Also include statistical packages (e.g. SAS, SPSS) and data analysis tools (e.g. Tableau, Excel, Qlik Sense).

Analytics for Business – Examples

Market Basket Analysis - the study of grouping items that consumers frequently buy to learn how these items align and for use in marketing and promotion.
Cluster Analysis - identifying group patterns from data, used in marketing, land use, and other areas.
Decision Tree Analysis - a flowchart like model that shows a series of decisions and their outcomes that assist in making logical decisions. -Decision trees are used for credit applications, business investments, and product launch planning.

Big Data Case Studies

Examples of companies that have used Big Data include UPS and Dell.
The results of such analysis include saving money, increasing efficiency, and better decision-making.

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Description

Explore the significant shifts in digital transformation that are reshaping businesses today. This quiz covers the transition from IT-centric systems to more business-centric strategies, highlighting the growth of data creation and the integration of cloud-native applications. Discover the key elements driving this transformation in a data-driven world.