Data Analytics Concepts

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The objective of data analytics is to identify trends and draw conclusions from large data sets.

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Identifying trends and drawing conclusions.

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Pattern recognition involves identifying trends in customer purchasing behavior.

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Identifying trends in purchasing behavior.

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Data procurement includes collecting data from enterprise resource planning systems.

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Collecting data from ERP systems.

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Organizing data into a usable form is part of data provisioning.

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Organizing data into usable form.

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Descriptive analysis

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Descriptive analysis answers the question: What happened?

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Inferential or predictive analysis

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Inferential or predictive analysis answers the question: What will happen?

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Outcome of PepsiCo's data-driven approach

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PepsiCo's approach led to 80% of product sales in the first 12 weeks after launch.

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Information system investment

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Investing in an information system is crucial for effective data-driven decision-making.

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Artificial intelligence in data analysis

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Artificial intelligence can assist in data analysis by providing additional insights.

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Ensuring system functionality

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Appropriate procedures ensure that data systems work as intended.