Outline of the Session

• Types of Data
• Quantitative Data
• Qualitative Data
• Data Analytics Basics
• Types of Analytics
• Descriptive
• Diagnostic analytics
• Predictive
• Prescriptive
Types of Data
• Quantitative Data:
• Quantitative data can be counted, measured, and expressed using
numbers.
• Quantitative data can be classified in different ways, including categorical
data that contain categories or groups (like countries), discrete data that
can be counted in whole numbers (like the number of students in a class),
and continuous data that is a value in a range (like height or temperature).
• This data are usually gathered using instruments, such as a questionnaire
which includes a ratings scale or a thermometer to collect weather data.
Statistical analysis software, such as SPSS, is often used to analyze
quantitative data.
• Quantitative data are typically analyzed with statistics.
Types of Data
• Qualitative Data:
• Qualitative data is descriptive and conceptual.
• Qualitative data can be categorized based on traits and characteristics.
• Qualitative data can be generated through:
• Texts and documents
• Audio and video recordings
• Interview transcripts and focus groups
• Observations and notes
• It is
• Interpretation-based, descriptive, and relating to language
• Understand why, how, or what happened behind certain behaviors
• Analyzed by grouping the data into categories and themes
Examples
Data unit Numeric variable = Quantitative data Categorical variable = Qualitative data
"In which country
"How many children
4 children were your children Australia
do you have?"
born?"

A person "How much do you "What is your

$60,000 p.a. Photographer
earn?" occupation?"

"How many hours do "Do you work full-

38 hours per week Full-time
you work?" time or part-time?"
"How many square "In which city or
A house meters is the 200 square metres town is the house Brisbane
house?" located?"
"How many workers
"What is the industry
A business are currently 264 employees Retail
of the business?"
employed?"
"How many milk
"What is the main
A farm cows are located on 36 cows Dairy
activity of the farm?"
the farm?"
Quantitative Data vs. Qualitative Data
Data Analytics
• Data analytics is the collection, transformation, and organization of
data in order to draw conclusions, make predictions, and drive
informed decision making.
• Data analytics is often confused with data analysis. While these are
related terms, they aren’t exactly the same. In fact, data analysis is
a subcategory of data analytics that deals specifically with
extracting meaning from data.
• Data analytics, as a whole, includes processes beyond analysis,
including data science (using data to theorize and forecast) and
data engineering (building data systems).
Data Analytics
• Data analytics is the science of analyzing raw data to make
conclusions about that information.
• Data analytics help a business optimize its performance, perform
more efficiently, maximize profit, or make more strategically-
guided decisions.
• The techniques and processes of data analytics have been
automated into mechanical processes and algorithms that work
over raw data for human consumption.
Data Analytics
• Various approaches to data analytics include looking at what
happened (descriptive analytics), why something happened
(diagnostic analytics), what is going to happen (predictive
analytics), or what should be done next (prescriptive analytics).
• Data analytics relies on a variety of software tools including
spreadsheets, data visualization, reporting tools, data mining
programs, and open-source languages for the greatest data
manipulation.
Data Analytics Purposes
• Gain greater insight into target markets
• Enhance decision-making capabilities
• Create targeted strategies and marketing campaigns
• Improve operational inefficiencies and minimize risk
• Identify new product and service opportunities
Career Opportunities in Data Analytics
• Data Analyst: Focusing on data exploration, cleaning, and analysis.
• Data Scientist: Combining data analysis with advanced statistical
and machine learning techniques.
• Business Intelligence Analyst: Using data to inform business
strategy and decision-making.
• Machine Learning Engineer: Building and deploying machine
learning models.
• Data Engineer: Managing data pipelines and infrastructure.
Types of Analytics
• Descriptive (business
intelligence and data mining)
(What Happened?)
• Diagnostic analytics (Why
this Happened?)
• Predictive (forecasting) (What
might happen in the
future?)
• Prescriptive (optimization and
simulation) (What should we
do next?) Source: https://commons.wikimedia.org/wiki/File:Types-of-Learning-Analytics.png
Descriptive Analytics
• Descriptive analytics looks at data and analyze past event for
insight as to how to approach future events.
• It looks at the past performance and understands the performance
by mining historical data to understand the cause of success or
failure in the past.
• Almost all management reporting such as sales, marketing,
operations, and finance uses this type of analysis.
• Common examples of Descriptive analytics are company reports
that provide historic reviews like: Data Queries Reports Descriptive
Statistics Data dashboard
Diagnostic Analytics
• Diagnostic analytics is the process of using data to determine the
causes of trends and correlations between variables.
• It can be viewed as a logical next step after using descriptive
analytics to identify trends.
• Diagnostic analysis can be done manually, using an algorithm, or
with statistical software (such as Microsoft Excel).
• There several concepts to understand before diving into diagnostic
analytics: hypothesis testing, the difference between correlation
and causation, and diagnostic regression analysis.
Predictive Analytics
• Predictive analytics turn the data into valuable, actionable
information. predictive analytics uses data to determine the
probable outcome of an event or a likelihood of a situation
occurring.
• Predictive analytics holds a variety of statistical techniques from
modeling, machine, learning, data mining, and game theory that
analyze current and historical facts to make predictions about a
future event.
• Techniques that are used for predictive analytics are: Linear
Regression Time series analysis and forecasting, Data Mining
Prescriptive Analytics
• Prescriptive Analytics automatically synthesize big data,
mathematical science, business rule, and machine learning to
make a prediction and then suggests a decision option to take
advantage of the prediction.
• For example, companies go for this analysis because it gives a great
insight into a problem, and they also keep detailed information
about their disposal otherwise data collection may turn out
individual for every problem and it will be very time-consuming.
• Common techniques used for Diagnostic Analytics are: Data
discovery, Data mining, Correlations.
Summary
• Quantitative data can be counted, measured, and expressed using
numbers, while Qualitative data is descriptive and conceptual.
• Data analytics is the collection, transformation, and organization
of data in order to draw conclusions, make predictions, and drive
informed decision making.
• Types of Data Analytics:
• Descriptive (business intelligence and data mining) (What Happened?)
• Diagnostic analytics (Why this Happened?)
• Predictive (forecasting) (What might happen in the future?)
• Prescriptive (optimization and simulation) (What should we do next?)
Thank You