Unit - II

Overview of Data Analytics

Anand Kumar(IBM)
 Overview of Data Analytics
• Data analytics is the process of examining, cleaning, transforming, and interpreting
data to discover valuable insights, patterns, and trends. It involves various techniques
and tools to make data-driven decisions and solve complex problems. Here's an
overview of data analytics.

• Data Collection: The process begins by collecting relevant data from various sources,
which can include structured data from databases, unstructured data from text
documents, or semi-structured data from sources like social media or IoT devices.

• Data Cleaning and Preparation: Raw data often contains errors, missing values, or
inconsistencies. Data analysts must clean and preprocess the data to ensure its
accuracy and consistency. This may involve data imputation, removing outliers, and
standardizing formats.
  Overview of Data Analytics
• Data Storage: Data is typically stored in data warehouses, databases, or data lakes,
making it easily accessible for analysis. Proper data storage is crucial for efficient
analytics.

• Data Transformation: This step involves converting data into a suitable format for
analysis. It may include aggregating, filtering, and structuring data to create features
for modeling.

• Data Analysis: Data analysts use various statistical and machine learning techniques
to analyze the data. Descriptive analytics focuses on summarizing data, while
diagnostic analytics identifies the cause of past events. Predictive analytics forecasts
future trends, and prescriptive analytics recommends actions to optimize outcomes.
  Overview of Data Analytics
• Data Visualization: Visualizing data through charts, graphs, and dashboards is
essential for presenting results in a comprehensible manner. Data visualization
aids in conveying insights and patterns to non-technical stakeholders.

• Data Interpretation: Analysts interpret the results of their analysis to extract

meaningful insights. These insights can inform decision-making, strategy
development, and problem-solving.

• Data Reporting: The findings are often documented and shared through
reports, presentations, or interactive dashboards. Clear reporting ensures that
stakeholders can make informed decisions based on the data.
  Overview of Data Analytics
• Continuous Monitoring: Data analytics is an ongoing process. Organizations
continuously collect, analyze, and interpret data to adapt to changing
circumstances and make data-driven decisions over time.

• Challenges: Data analytics may face challenges related to data quality, privacy,
security, and the need for skilled analysts. Data governance and compliance with
regulations like GDPR are also significant concerns.

• Tools and Technologies: Various tools and technologies are used in data analytics,
including programming languages like Python and R, data visualization tools like
Tableau, and machine learning libraries such as TensorFlow and scikit-learn.
  Overview of Data Analytics
• Applications: Data analytics is used in various domains, including
business (for market analysis and customer insights), healthcare (for
patient outcomes and disease prediction), finance (for risk
assessment and fraud detection), and many others.

• In summary, data analytics is a multifaceted process that transforms

data into actionable insights, aiding in informed decision-making and
problem-solving across a wide range of industries and disciplines. It
plays a crucial role in the modern data-driven world.
 Build a Culture of data driven-Insights.
 Current Analytical Architecture
• Analytics architecture refers to the systems, protocols, and technology used to collect,
store, and analyze data. The concept is an umbrella term for a variety of technical
layers that allow organizations to more effectively collect, organize, and parse the
multiple data streams they utilize.
• When building analytics architecture, organizations need to consider both the
hardware — how data will be physically stored — as well as the software that will be
used to manage and process it.
• Analytics architecture also focuses on multiple layers, starting with data warehouse
architecture, which defines how users in an organization can access and interact with
data. Storage is a key aspect of creating a reliable analytics process, as it will
establish both how your data is organized, who can access it, and how quickly it can
be referenced.
• Structures like data marts, data lakes, and more standard warehouses are all popular
foundations for modern analytics architecture. On the user side, creating easier
processes for access means including tools like natural language processing and ad-
hoc analytics capabilities to reduce the need for specialized workers and wasted
resources. When seen as a whole, analytics architecture is a key aspect of business
intelligence.
 IBM based Lockheed Martin big data analytics
architecture for smart grid applications
 Accelerate data analysis and data-driven
business decisions
• IBM® Business Analytics Enterprise provides a single entry no-code
content hub to discover, personalize and recommend business
analytics content among multiple vendors. It's an analytics platform
that combines predictive analytics, reporting, data analytics and data
integration capabilities natively out-of-the-box.
• Use insights mined from your data sets to adjust organizational plans,
budgets, reports and forecasts in real time. Adapt to changing market
conditions or customer demand at the speed of business, while
ensuring operational activities align to goals and objectives.
  IBM Business Analytics Enterprise
Composite dashboards:- Compile content assets from multiple
business intelligence (BI) vendors into a single, integrated analytics
dashboard that is accessible to all users at scale.
Insightful decisions:- Make confident business decisions informed by
real metrics and insights and take the guesswork out of decision
making.
Easy collaboration:- Scale and adjust business objectives and plans as
you collaborate across your organization without having to reinvent
business processes.
  analytics is transforming the world

Analytics is transforming the world in profound ways by leveraging

data-driven insights to improve decision-making, enhance efficiency,
and drive innovation across various industries. Here's an explanation
of how analytics is making this transformative impact:
• Informed Decision-Making :- Analytics provides businesses,
governments, and organizations with a wealth of data-driven insights.
This information helps in making informed decisions based on real
evidence, rather than intuition or guesswork. It enables leaders to
choose strategies and actions that are more likely to succeed.
• Predictive Insights :- Predictive analytics allows organizations to forecast
future trends, customer behaviors, and market dynamics. This information is
invaluable for strategizing, resource allocation, and risk management. For
example, predictive analytics is used in financial markets to anticipate price
movements and in healthcare to predict disease outbreaks .
• Operational Efficiency :- Analytics optimizes operations and processes in
various industries. Supply chain management, for instance, benefits from
analytics by reducing waste, improving inventory management, and
optimizing logistics. This efficiency can lead to cost savings and better
resource utilization.
• Personalization :- Analytics enables businesses to deliver highly
personalized products, services, and marketing to customers. E-commerce
platforms, streaming services, and social media use analytics to understand
user preferences and behavior, allowing them to recommend content and
products that match individual interests.
• Smart Cities :- Urban areas are using analytics to become more efficient
and sustainable. From traffic management and waste collection to
energy consumption and public safety, data analytics helps cities make
data-driven decisions to improve the quality of life for their residents.
• Financial Services :- The finance industry relies on analytics for fraud
detection, credit scoring, and investment strategies. By analyzing vast
amounts of financial data, institutions can identify fraudulent
transactions, assess creditworthiness, and make investment decisions
with greater accuracy.
• Environmental Sustainability :- Analytics is used to monitor and
mitigate environmental issues, such as climate change. It helps track
pollution, optimize energy usage, and assess the impact of
environmental policies, contributing to a more sustainable planet.
• Human Resources :- HR departments use analytics to make data-driven
decisions about hiring, retention, and employee satisfaction. This leads to
better workforce management, reduced turnover, and improved workplace
conditions.
• Research and Development :- In fields like pharmaceuticals, analytics
expedites research and development by analyzing vast datasets to identify
potential drug candidates or scientific breakthroughs. This accelerates
innovation and reduces time-to-market.
• Education :- Analytics in education helps customize teaching approaches,
monitor student progress, and identify areas for improvement. It is used to
optimize curricula and enhance learning outcomes.
• Public Policy and Government :- Governments use analytics to make
data-informed decisions regarding policies, resource allocation, and
public services. This can lead to more efficient public services and
better governance.
In summary, analytics is transforming the world by harnessing the
power of data to make processes more efficient, decisions more
informed, and innovations more attainable. It's driving change across
various sectors, ultimately improving the quality of life and business
performance on a global scale. As technology and data capabilities
continue to advance, the transformative potential of analytics will only
increase.