Chapter 3 Slides
Opening Example /Nature of Data
Opening Vignette
SiriusXM
Nature of Data
DIWK
Analytics readiness
Data source reliability
Data content accuracy
Data accessibility
Data security and privacy
Data richness
Data consistency
Data currency
Data granularity
Data validity
Data relevancy
Taxonomy of data
Unstructured
Structured
Categorical
Numerical
Art and Science of Data preprocessing
Data preprocessing steps – Figure 3.3
Statistical modeling for business analytics
This
Regression modeling for inferential
statistics
Regression
Correlation versus regression
Simple versus multiple regression
Figure 3.14 process flow for developing regression models
Most important assumptions in linear regression
Logistic regression
Time-series forecasting
reporting /Data Visualization
To ensure that all departments are functioning properly.
To provide information.
To provide the results of an analysis.
To persuade others to act.
To create an organizational memory (as part of a knowledge management system).
Data visualization
the use of visual representations to explore, make sense of, and communicate data
Different types of charts
Line
Bar
Pie
Scatter
Histogram
Gantt
Pert
Geographic
Which chart should you use?
Emergence of Visual Analytics/ Information
Dashboards
Visual analytics is a recently coined term that is often used loosely to mean nothing
more than information visualization. What is meant by visual analytics is the combi-
nation of visualization and predictive analytics.
Storytelling
Dashboards provide visual displays of important information that is consolidated
and arranged on a single screen so that the information can be digested at a single
glance and easily drilled in and further explored.
1. Monitoring: Graphical, abstracted data to monitor key performance metrics.
2. Analysis: Summarized dimensional data to analyze the root cause of problems.
3. Management: Detailed operational data that identify what actions to take to re-solve a
problem
Wrap Up
Review the Chapter highlights
Review the key terms
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