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Samenvatting Data Analytics & Professional Skills (6314M0402Y)
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Summary of the Data Analytics Course
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Data analyticsInhoud
Week 1: Introduction to Data Analytics..............................................................................................2
Week 2: Database Concepts and Data Modelling...............................................................................7
Week 3: Data retrieval and mining...................................................................................................18
Week 4: Data Mining........................................................................................................................26
Week 5: Text Mining.........................................................................................................................32
1
,Week 1: Introduction to Data Analytics
Information for managerial decision making
- Management = decision making?
- Management is a process by which organizational goals are achieved by using resources
- Decision making: selecting the best solution from two or more alternatives
- To select the best solution management requires sufficient information
Decision-making process
Managers usually make decisions by following a four-step process:
- Intelligence: define the problem (or opportunity)
- Design: construct a model that describes the real-world problem, define evaluation criteria
and search for alternative solutions
- Choice: compare, choose, and recommend a potential solution to the problem
- Implementation: implement the chosen solution
Models
- Decision making process involve the inclusion of at least one model
- A model is a simplified representation or abstraction of reality
- Modeling is a combination of art and science
The benefits of models
- Manipulating a model is much easier than manipulating a real system
- Simulation is easier and does not interfere with the organization daily operations
- Compression of time, years of operations can be simulated in minutes or seconds
- The cost is much lower than experiments conducted on a real system
- The consequences of making mistakes are less severe
- Mathematical models enable the analysis of a very large number of possible solutions
- Models enhance and reinforce learning and training
- Models and solution methods are readily available
2
,Data vs information
Data are facts that are collected, recorded, stored and processed
- Insufficient for decision making
Information is processed data used in decision making
- Too much information however, will make it more, not less, difficult to make decisions. This
is knows as ‘data overload’ or ‘information overload’
The concept of decision supporting system (DSS)
Interactive computed-based systems, which help decision makers utilize data and models to solve
unstructured problems
Couple the intellectual resources of individuals with the computational capabilities of the computer
to improve the quality of decisions
Primary emerged from science
3
, Evolution of Computerized Decision Support to Business Intelligence and Data Science
Business intelligence (BI)
BI is an evolution of decision support concepts over time
- Before: executive information system (EIS/DSS)
- Now: everybody information system (BI)
BI systems are enhanced with additional visualizations, alerts and performance measurement
capabilities
Primary emerged form industry
Definition of BI
- Combines architectures, tools, databases, analytical tools, applications, and methodologies
- Is a content-free expression, so it means different things to different people
- Major objective is to enable easy access to data (and models) and business managers to
analyze it
- Helps transform data into information, to improve decisions, and finally to implement action
BI architecture
A BI system has four major components
- A data warehouse with its source data
- Business analytics (a collection of tools for manipulating, mining, and analyzing the data)
- Business performance management (BPM) capabilities for monitoring and analyzing
performance
- A user interface (dashboard)
4
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