What is Data Analytics?

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Del curso dictado por PwC

Data-driven Decision Making

2548 calificaciones

PwC

Data-driven Decision Making

2548 calificaciones

Curso 1 de 5 en SpecializationData Analysis and Presentation Skills: the PwC Approach

Welcome to Data-driven Decision Making. In this course you'll get an introduction to Data Analytics and its role in business decisions. You'll learn why data is important and how it has evolved. You'll be introduced to “Big Data” and how it is used. You'll also be introduced to a framework for conducting Data Analysis and what tools and techniques are commonly used. Finally, you'll have a chance to put your knowledge to work in a simulated business setting. This course was created by PricewaterhouseCoopers LLP with an address at 300 Madison Avenue, New York, New York, 10017.

De la lección

Introduction to Data Analytics

In this module you'll learn the basics of data analytics and how businesses use to solve problems. You'll learn the value data analytics brings to business decision-making processes. We’ll introduce you to a framework for data analysis and tools used in data analytics. Finally, we’re going to talk about careers and roles in data analytics and data science.

What is Data Analytics?7:07

Solving business problems using data analytics4:44

Making business-defining decisions using data analytics4:05

A Message from our Chief People Officer at PwC0:41

Conoce a los instructores

Alex Mannella
Alumni / Former Principal

[MUSIC]

Welcome to the first video in the data driven decision making course.

We want to introduce you to Dan DiFilippo.

Dan is our global and US data analytics leader and

he's going to be one of your main instructors for this course.

>> In this first video, Dan will provide you with an overview of what data and

analytics is.

As you move through the course,

you'll go into more detail about many of the topics introduced in this video.

And we'll be back again at the end of the week to talk about what you've learned.

>> Thanks, Amity and Mike.

I lead a global team that helps clients use the data they have and

the data need to make better and faster decisions.

Rapid technology change means how we deal with data is

fundamentally different today than it was just a few years ago.

In this session, I'll discuss what data and analytics is and why it's important.

The impact it's having on business and how it can help organizations make better and

faster decisions.

First, what do we mean by data?

Webster's define data as a collection of facts, observations or

other information related to a particular question or problem.

Data can be structured or unstructured.

Structured data is information with a high degree of organization

that could be included in databases or spreadsheets and

is easily searchable by simple search engine algorithms.

Think of how a multiple choice question forces your answer

into a predefined category.

Unstructured data is the opposite and is usually text heavy

though it may contain video, data or numbers and facts as well.

Think of an open field text box that allows you

to provide additional comments on a survey.

Adding to the complexity Data can also come from a variety of internal and

external sources for organizations.

The conversation gets really interesting when we look at the wide variety of data

available to us today, and

the powerful analytics that can be applied to that data.

Analytics is the science of examining raw data

in order to draw conclusions about the information.

It's an exciting field, and is dramatically impacting how

organizations in many industries are making decisions.

The availability of huge volumes of structured and unstructured data sets,

combined with advanced computing capabilities.

Low cost storage and

powerful visualization technology is enabling organizations to gain

insight once technologically impossible, or economic impractical.

It is also enabling new entities to startup and scale quickly,

which can bring great benefit to the market and to society but

can also be very disruptive and challenge the status quo.

So where is this data coming from?

From market reasearch and

social media.to the network of physical objects,we call the internet of things.

The world we live in today,is creating a constant and

ever increasing stream of data.

For most organizations, the data they can access is increasing at a rate of

40% each year which creates significant challenges in the way data is captured and

secured, organized, analyzed and reported.

Let's quickly touch on three ways that data analytics

is impacting business today.

First, data is enabling new products and services, creating markets that

didn't previously exist and bringing new capabilities to existing markets.

Wearables, such as your Fitbit or Apple watch are some examples of new products.

Second, it is disrupting existing markets with innovative upstarts

unseating traditionally secure businesses, think of Uber.

Third, data and analytics is driving increased efficiency.

For example, retailers have the ability to automate and optimize their supply chain.

Tailoring offerings for customers making services such as

Amazon's same day delivery in major US cities logistically possible.

In short data is providing the organizations the ability to identify

growth opportunities, drive innovation, operate more efficiently, and

manage risk in new ways.

So if data can do all that, organizations, simply,

must use it to stay competitive, but how?

Organizations have always use data in some form to inform their decisions.

But the volume,

variety and velocity of data available today presents huge challenges.

Traditional approaches to data analysis, identify a problem or

business opportunity, collect data, and use spreadsheets or

software to understand it no longer apply.

The volume of information today is simply too high, and

the time frame's way too short.

Confronting these challenges can lead to immense reward.

Smart organizations are taking advantage of data analytics to gain a clearer

picture of their business.

They're using new technology such us data visualization.

The presentation of data in a pictoral or graphical format to help decision markers

see analytics presented visually and more easily identified new patterns.

This kind of insight is powerful and can fundamentally change the speed and

sophistication of decision making.

At PWC, we work with clients to effectively use data in every part of

their business, from customer acquisition, talent retention, and market expansion.

To reporting results, meeting compliance requirements, and managing risks.

We'll talk more about applying data and

analytics in business settings as part of this course.

In future videos, we'll look at some examples and

talk to PWC professionals to help bring these concepts to life.

So let's quickly recap what we covered in this short introduction

to data and analytics.

We talked about structured and unstructured data and

how the explosion of data is leading to new business challenges and opportunities.

We talked about how important it is for organizations to take advantage of all

that data and we spoke about how new technologies can help to do that.

By aggregating and presenting data in meaningful and impactful ways,

that can help companies make better decisions.

Thanks for watching, and I hope you enjoy the rest of the sessions.

[MUSIC].

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