5. • They must have ability to seperate good
data from bad data.
• Precise knowledge of data science can
add value and also help to take decisions
wih good insight and avoid faulty decisions
based on faulty assumptions
6. Analytics is not a separate
business practice
It is formed by INTEGRATON of several components
of business
7. To Start with Analytics
Step 1 :
Define the Problem !!
8. • Look at the data it is going to incorporate.
• After looking at all aspects of of data
feasibility define the problem taking care
of all pros and cons.
9. Step 2 :Understand the Data-
Generation Process
• We cannot judge the quality of the
analytics if you don’t have a very clear
idea of where the data came from. So it is
a crucial step.
• It can also uncover the problem of reverse
causality.
10. Step 3:Use Domain Knowledge
• Managers should use their knowledge
of the business to account for strange
results.
• Do need to change their field in for
using the data science.
11. Step 4 :Know It—Do Not Just
Think It
Deep
knowledge
necessary