Introduction to Data Analytics

Classification of Data Analytics [Difficulty Level –> Easy to Difficult]:

1. Descriptive Analysis – History Data Analysis
2. Diagnostic Analysis – Why it happened
3. Predictive Analysis – What will Happen
4. Prescriptive Analysis – Guiding best practice to follow

1.Descriptive Analysis – [Charts]

• Data about past events
• Provided in detail as summary
  • Data Queries
  • Reports
  • Descriptive Statistics
  • Data Visualization
  • Data Dashboard

2.Diagnostic Analytics

• Data discovery
• Data Mining
• Correlation

3.Predictive Analysis

• Historic Data –> Predictive Algorithm –> Model
• New Data –> Model –> Predictions
  • Linear Regression
  • Time Series Analysis and Forecasting
  • Data Mining

4.Prescriptive Analysis

• Optimization Model
• Simulation Model
• Decision Analysis

Types of Data

• Nominal – Gender, Marital Status – No –> Ranking & Arithmetic Calcuations –> Nonparametric test
• Ordinal – Ratings, Designation, Student Grades – Can be ranked but no arithmetic operations –> Nonparametric test
• Interval Scale – Year, Temparature – Addition and Subtraction can be done – Multipication/Div makes no sense –> Parametric test
• Ratio Scale – Weight, Age, Salary – All arithmetic operations –> Parametric test