Tag Archives: data analytics
Building Data Analytics Organization: Operating Models
Most businesses these days are collecting and analyzing data to help them make better decisions. However, in order to do this effectively, they need to build a data analytics organization. This involves hiring the right people with the right skills, setting up the right infrastructure and creating the right processes. In this article, we’ll take a closer look at what it takes to set up a successful data analytics organization. We’ll start by discussing the importance of having the right team in place. Then we’ll look at some of the key infrastructure components that need to be put in place. Finally, we’ll discuss some of the key process considerations that …
Differences: Data Analyst & Business Analyst
Data analysts and business analysts are two very different positions in the world of business. Data analysts are responsible for examining data and manipulating it into a format that is easy to understand, while business analysts are responsible for taking this data and using it to make informed business decisions. This is not to say that one job is more important than the other – both positions are necessary for a well-functioning company. However, it is important to understand the distinctions between these two jobs so that you can better identify which role you might be interested in pursuing. Data Analysts vs Business Analysts Data analysts and business analysts are …
Gartner Data Analytics Trends for 2022
Every year, Gartner releases a report on the latest data analytics trends that will be influential for businesses in the coming year. These reports are always insightful, and provide valuable information for companies who want to stay ahead of the curve. This year is no exception, and Gartner released their predictions for data analytics trends in earlier in 2022. In this blog post, we will take a look at some of the most important trends that Gartner has identified. Although it is a bit late to publish this post. However, this post discusses the concepts in detail and will be updated from time-to-time. Stay tuned for more insights into the …
Purpose of Dashboard: Advantages & Disadvantages
A dashboard is a visual representation of the most important information needed to achieve a goal. Dashboards form an integral part of analytical solutions. As the demand for data analytics continues to grow, dashboards are well-positioned to become one of the most essential tools in any business toolkit. It can provide an overview of what is happening in your business and help you make better decisions. While there are many advantages to using a dashboard, there are also some disadvantages that you should be aware of. In this blog post, we will discuss the purpose of the dashboard and its advantages and disadvantages. As a product manager/business analyst and data …
What is Data Quality Management? Concepts & Examples
What is data quality? This is a question that many people ask, but it is not always easy to answer. Simply put, data quality refers to the accuracy and completeness of data. If data is not accurate, it can lead to all sorts of problems for businesses. That’s why data quality is so important – it ensures that your data is reliable and can be used for decision-making purposes. Data is at the heart of any enterprise. It is essential for making sound business decisions, understanding customers, and improving operations. However, not all data is created equal. In order to make the most out of your data, you need to …
Digital Transformation Strategy: What, Why & How?
Digital transformation is a digital strategy that aims to change the way an organization operates. It’s not just about digital marketing anymore – digital transformation includes all aspects of digital engagement from customer service, product development, and delivery, operations, etc. And it requires a holistic approach to digital transformation without any silos or strategic gaps in between departments. In this blog post, we will cover what digital transformation is and why organizations should take advantage of this strategy. We’ll also look at how digital transformation is happening in different industries. What is digital transformation? Digital transformation is a digital strategy that aims to change the way an organization operates and …
Differences Between MLOps, ModelOps, AIOps, DataOps
In this blog post, we will talk about MLOps, AIOps, ModelOps and Dataops and difference between these terms. MLOps stands for Machine Learning Operations, AIOps stands for Artificial Intelligence-Operations (AI for IT operations), DataOps stands for Data operations and ModelOps stands for model operations. As data analytics stakeholders, it is important to understand the differences between MLOps, AIOps, Dataops, and ModelOps. For setting up AI/ML practice, it is important to plan to set up teams and practices around AIOps, MLOps/ModelOps and DataOps. What is MLOps? MLOps (or ML Operations) refers to the process of managing your ML workflows. It’s a subset of ModelOps that focuses on operationalizing ML models that …
Business Analytics Team Structure: Roles/ Responsibilities
Business analytics is a business function that has been around for years, but it’s only recently gained traction as one of the most important business functions. Organizations are now realizing how business analytics can help them increase revenue and improve business operations. But before you bring on a business analytics team, you need to determine if your company needs full-time or part-time team members or both. It might seem logical to hire full-time staff members just because they’re in demand, but this isn’t always necessary. If your business operates without any external data sets and doesn’t have complex reporting and advanced analytics needs then it may be more cost-effective to …
How to Create Data-Driven Culture: Key Steps
In today’s competitive business environment, companies are looking for the cutting edge they can get to stay ahead. One of the ways to beat the competition is by establishing a culture of data-driven decision making. In this blog post, we will explore how to create a data-driven culture that values data analytics and provides actionable insights into what needs to be done next in order to create a future-ready digital organization. What is data-driven culture? Data-driven culture is about creating an organization that is data-driven, where everything from business processes to culture supports the need for data-based decision making. In other words, every step of a business process must be …
Relationship: Analytics & Data-Driven Decision Making
Data analytics is a topic that many data-driven organizations are becoming increasingly interested in. Data analytics often includes the process of analyzing data to find insights that can be used to make decisions. But what does this mean? How are different types of analytics related to data-driven decision-making? This blog post will explore how an organization’s use of data can help them make better, more informed decisions. Before getting into the details, lets quickly understand how business analytics is related data analytics. There are a number of facets that business analytics and data analytics have in common. In both the cases, the common steps include dealing with gathering data from …
Key Architectural Components of a Data Lake
Data lakes are data storage systems that allow data to be stored, managed and accessed in a way that is cost-effective and scalable. They can provide a significant competitive advantage for any organization by enabling data-driven decision-making, but they also come with challenges in architecture design. In this blog post, we will explore the different components of data lakes, including the data lake architecture. Before getting to learn about data lake architectural component, lets quickly recall what is a data lake. What is a data lake? A data lake is a data storage system that allows data to be stored, managed, and accessed in a way that is cost-effective and …
Data Analytics – Different Career Options / Opportunities
Data analytics career paths span a wide range of career options, from data scientist to data engineer. Data scientists are often interested in what they can do with the data that is analyzed, while data engineers are more focused on the analysis itself. Whether you’re looking for a career as a data scientist, data analyst, ML engineer, or AI researcher, there’s something for everyone! In this blog post, we will different types of jobs and careers available to those interested in data analytics and data science. What are some of the career paths in data analytics? Here are different career paths for those interested in data analytics career: Data Scientists: …
Using Theory of Change to Design Data-driven Solutions
Have you ever wanted to design a solution for an issue but weren’t sure how to do it? One theory that can help is the theory of change. The theory of change provides a framework for designing solutions by focusing on the steps needed to achieve desired outcomes or results. It also helps identify what needs to happen in order for the solution to be implemented successfully and realizing the desired outcomes. The theory of change when combined with data-driven decision making can result in great impact. In order to design solutions that have an impact and are sustainable, it is important to understand the theory of change as well …
Actionable Insights Examples – Turning Data into Action
In this post, you will learn about how to turn data into information and then to actionable insights with the help of few examples. It will be helpful for data analysts, data scientists, and business analysts to get a good understanding of what is actionable insight? You will understand aspects related to data-driven decision making. Before getting into the details, let’s understand what is the problem at hand? The school authority is trying to assess and improve the health of students. Here is the question it is dealing with: How could we improve the overall health of the students in the school? We will look into the approach of finding the …
Starting on Analytics Journey – Things to Keep in Mind
This post highlights some of the key points to keep in mind when you are starting on data analytics journey. You may want to check a related post to assess where does your organization stand in terms of maturity of analytics practice – Analytics maturity model for assessing analytics practice. In the post sighted above, the analytics maturity model defines three different levels of maturity which are as following: Challenged Practitioners Innovators At whichever level you are in terms of maturity of your analytics practice, it may be good idea to understand the following points to come up with data analytics projects. Believe that a lot of prior work is required …
Data Quality Challenges for Analytics Projects
In this post, you will learn about some of the key data quality challenges which you may need to tackle with, if you are working on data analytics projects or planning to get started on data analytics initiatives. If you represent key stakeholders in analytics team, you may find this post to be useful in understanding the data quality challenges. Here are the key challenges in relation to data quality which when taken care would result in great outcomes from analytics projects related to descriptive, predictive and prescriptive analytics: Data accuracy / validation Data consistency Data availability Data discovery Data usability Data SLA Cos-effective data Data Accuracy One of the most important …
I found it very helpful. However the differences are not too understandable for me