Key Analytics Tip – Build A Data Map

One of the keys to being successful with analytics is having a clear view of how all the data flows into and through your business.

Building a data map to show all the entry points, all the places where data is stored, who and how it is  accessed  and what filters might change your data is one of the things I can help you do.

This is step one towards data integration and is a great exercise for a half day in-house training/seminar for any business or organization that is struggling to get valued out of it’s big data.

Per Wikipedia… Data integration involves combining data residing in different sources and providing users with a unified view of these data. Data integration appears with increasing frequency as the volume and the need to share existing data explodes.

If you can imagine a map of your business in your mind you are half way there. The next step is to build a flow chart like the one below

datamap

If you have something like this then you are on ahead of the game.

If you don’t, let us set up some time to discuss how to get started.

Analytics Culture – The key to using analytics in a business is like a secret sauce. It is a unique combination of analytics talent, technology and technique that are brought together to enrich and empower an organization. A successful analytics culture is not easy to create, but DMAIPH can show you how. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can build a strategic plan to turn your company into analytics driven success story. 

 

Big Data Analytics: Interpretation and Assessing Results > 2/21/17

I will be speaking on  February 21, 2017 at Discovery Suites, Ortigas Center, Pasig City on Data Analytics.

With that in mind, I wanted to share a little more detail about each section, next up…

Enabling Your Business to Make Smarter Decisions Section 3:  Interpretation—Assessing Results

Participants will be able to Articulate the Importance of Accurately Interpreting Data. Having the right data at your fingertips is essential to being successful with analytics.

We will also be able to Determine and Analyze Risk, Uncertainty, and Probability. With so much data, you need to know what data to analyze when to stay ahead of the game.

I will also talk about how to Spot Patterns, Trends, and Fluctuations Through Correlation, Regression, and Descriptive Statistics. Analytics techniques like these will keep you on the cutting edge.

Attendees will be able to Understand when to employ Descriptive, Predictive or Prescriptive Analytics. Each type has a specific use, make sure you know when to use each one.

And finally we will discuss how to Build Data Models. You don’t need to have high priced, complicated software to do some basic data modeling. I’ll show you some examples.

That’s section three… I’ll go over the last section in the next few days.

DMAIPH offers a wide range of analytics centric training solutions for professionals and students via public, in-house, on-site, and academic settings.

We tailor each training event to meet the unique needs of the audience.

If you need empowerment and skills enhancement to optimize the use of analytics in your organization, we are here to help.

Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to set up a free consultation on which of our DMAIPH analytics training solutions is best for you.

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Q8: Here’s something a lot of us are wondering, what exactly is big data?

Think about some of the things you do in your daily life. You get up, you eat, go to work/school, shop, do something for entertainment, bank, go online and do things on social media. Everything you do generates data. That data is captured in countless ways. And then its stored in countless places. And analyzed by countless numbers of people. And then used in countless ways by businesses to market, design, advertise, build, sell, and so on.

Every time you check your phone to see if there are any updates on Facebook you generate a lot of data for your phone manufacturer, your service provider and Facebook itself. Everything you like or comment on can be turned into a data point. The time, place and length of your connection all provide useful data. Get the point? Its endless.

That’s big data.

In general, big data is thought of as all the data businesses capture and store in a database that they can use for business decision-making.

When you think of data collections that have millions and millions of rows of data like big bank transaction data, or traffic data for major cities, or all the statistics captured everyday across professional sports. Way too much for man to analyze without help from technology. That’s all big data.

Every business defines its big data a little differently. There is no one way to look at how best to manage big data because big data is such a living, evolving, never ending flow of information. It’s like lakes of water that are too big to swim across and too deep to dive to the bottom of without help. And no two lakes are alike.

Data analysts and data s2.5.2cientists are the ones who know the lake and guide you across or build you a submarine to explore the bottom.

As I have mentioned in previous posts, knowing the data environment is key to your success. And big data just adds weight to that statement. If you don’t know where all the data is coming from, can’t be sure if its clean, then you will get lost in the deluge of big data.

The Fundamental of Business Analytics – Business Analytics is the application of talent, technology and technique on business data for the purpose of extracting insights and discovering opportunities.

DMAIPH specializes in empowering organizations, schools, and businesses with a mastery of the fundamentals of business analytics. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to find out how you can strengthen your business analytics fundamentals.