Business Intelligence
What is Data Analytics?
Data Analytics is the process of collecting, organizing, cleaning, analyzing, and interpreting raw data into meaningful information that supports better decision-making.
Hierarchy of Data Processing:
Note: Unwanted data is referred to as Noise in computer science.
1. Data Science Life Cycle
- Business Understanding: Defining objectives and business requirements.
- Data Collection: Gathering raw data from various sources.
- Data Processing and Cleaning: Handling errors and organizing data.
- Data Analysis: Performing exploratory analysis and extracting patterns.
- Data Modeling: Building predictive and machine learning models.
- Model Deployment: Implementing the model into production environments.
Note: GIGO principle applies — Garbage In, Garbage Out.
2. Data Collection Methods & Types
A. Data Collection Methods
- Primary Data: First-hand collected data (e.g., surveys, interviews).
- Secondary Data: Previously collected data (e.g., existing databases, sentiment analysis datasets).
B. Types of Data
| Data Type | Description | Examples / Formats |
|---|---|---|
| Structured Data | Highly organized data stored in tabular format. | Excel (.xlsx), SQL Databases |
| Semi-Structured Data | Does not conform to rigid tables, but uses organizational tags. | JSON, XML |
| Unstructured Data | Data with no predefined conceptual structure. | Photos, Audio, Video, Instagram Posts |
| Time Series Data | Data points indexed in time order. | Stock prices, weather updates |
3. Data Quality Problems & Cleaning Process
Common Data Quality Issues
- Missing values
- Duplicate data
- Incorrect data
- Inconsistent data
- Outliers
- Formatting errors
Data Cleaning Steps
- Identify Errors
- Handle Errors
- Validate the Data
- Save Clean Data
- Data Transformation
- Data Integration
4. Web Scraping Cycle & Data Integration
Web Scraping Life Cycle:
Types of Data Integration:
- Manual Data Integration
- Middleware Data Integration
- Data Warehousing (Tools: Apache Kafka, Talend, MuleSoft)
5. Exploratory Data Analysis (EDA)
EDA is the process of understanding the structure and characteristics of data before formal modeling or building Machine Learning algorithms.
Main Objectives of EDA:
- Understand the structure of data.
- Summarize main characteristics.
- Detect missing values and outliers.
- Understand feature distributions.
- Discover relationships between variables.
- Generate hypotheses for further analysis.
Types of EDA:
- Univariate EDA: Analyzes one variable at a time.
- Bivariate EDA: Analyzes the relationship between two variables.
- Multivariate EDA: Analyzes relationships among three or more variables.
Descriptive Statistics in EDA:
EDA & Analytics Workflow
6. Data-Driven Decision Making & Types of Analytics
Data-Driven Decision Making (DDDM) involves using facts, metrics, and data to guide strategic business decisions aligned with goals and initiatives.
Descriptive Analytics
Summarizes historical data and past performance through data aggregation and mining.
Diagnostic Analytics
Examines data deeper to answer why things happened, uncovering root causes and correlations.
Predictive Analytics
Forecasts future trends and possibilities using historical data patterns and machine learning.
Real-Time Analytics
Provides immediate insights on incoming data using streaming analytics, event processing, and live dashboards.