Data Analytics

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This document discusses data analytics and the industries that benefit most from it. It defines data analytics and describes its purpose as extracting knowledge from data through discovery, explanation, and prediction. The top industries that use data analytics are banking and finance, media and entertainment, and pharma and healthcare. Data analytics involves two main types: explanatory analytics which focuses on discovery and explanation, and predictive analytics which focuses on creating models to predict future behaviors.

Technology

PRINCESS LALWANI
IST 7000: Data Management Research
Presentation
Data Analytics

Top Industries Using Data Analytics
BANKING & FINANCE
MEDIA & ENTERTAINMENT
PHARMA & HEALTHCAR
https://successive.cloud/top-10-industries-that-benefit-most-from-data-analytics/

Textbook: Coronel Database Systems Design Implementation and Management 13e Mindtap
Data Analytics by
Definition
• subset of business intelligence (BI)
functionality
Encompasses: mathematical, statistical, and
modeling techniques
Purpose: extracting knowledge from data
Process: discovery->explanation->prediction
Tools classification: (1) explanatory analytics
and (2) predictive analytics

Textbook: Coronel Database Systems Design Implementation and Management 13e Mindtap
• focus: the discovery and explanation stages of
knowledge acquisition
used in market niches: banking, insurance,
marketing, retailing, finance, and healthcare
four general phases:
Data preparation
Data analysis and classification
Knowledge acquisition
Prognosis
I. Data Mining

Textbook: Coronel Database Systems Design Implementation and Management 13e Mindtap
• focuses on creating actionable models to
predict future behaviors and events
used in areas such as customer relationships,
customer service, customer retention, fraud
detection, targeted marketing, and optimized
pricing
II. Predictive Analytics

-Ronald Coase, Economics, Nobel Prize Laureate
“Torture the Data,
and it will confess to
ANYTHING.”

PRINCESS LALWANI
• Cornel, C. (2019). Database Systems: Design, Implementation, and Management (13th ed.).
Cengage Learning, Inc.
• Gour, R. (2019). Why Data Analytics is Gaining HYPE in the 21st Century. Towards Data Science.
Retrieved September 26, 2022, from https://towardsdatascience.com/why-data-analytics-is-
gaining-hype-in-the-21st-century-b7b1ca289f09
• Top 10 Industries That Benefit Most From Data Analytics. Successive Cloud. Retrieved
September 26, 2022, from https://successive.cloud/top-10-industries-that-benefit-most-from-data-
analytics/
Sources

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