Frequently Asked Questions

with Aaronpal Dhanda

Aaronpal Dhanda
What Is Data and Analytics?

Data and Analytics (also referred to as D&A) is about the way organisations manage data to support all its uses and analyse data to improve business processes, decision-making and outcomes.

What Are the Steps Involved in Data Analysis?

The first step in data analysis is determining the data requirements or how the data is grouped, and the second step is the process of collecting this data. Next, the data must be organised and, finally, cleaned up before analysis. The latter involves checking for errors and incidences of duplication.

What Are the Different Types of Data Analysis?

There are four basic types of data analysis: descriptive analysis, diagnostic analysis, predictive analysis, and prescriptive analysis.

What Is Prescriptive Analysis?

This type of prescriptive data analysis involves suggesting a course of action, such as ways to enhance capacity to increase output, based on the results of the data analysis undertaken.

What Are the Roles and Responsibilities of a Data Analyst?

The typical tasks and responsibilities of a data analyst include managing the delivery of user satisfaction surveys and reporting on the results using data visualisation software, and working with managers to define success metrics, develop requirements, execute analytical projects and evaluate results. Data analysts also apply analytical tools and techniques to extract and present new insights, and communicate complex data and concepts into visualisations, among many other things.

What Does Data and Analytics Governance Mean?

Data and analytics governance refers to the decision rights and accountability needed to ensure appropriate behaviour in relation to the creation, storage, access, analysis, consumption and disposal of information assets. Data and analytics governance should be linked to the overall business strategy and tied to the data analytics assets considered critical by organisational stakeholders.

Why Is Data Analytics Important?

Embedding and implementing data analytics into a business model helps companies reduce costs by identifying the most efficient ways of doing business. Data analytics can also help businesses make better decisions.

What Is a Real-World Example of Data Analytics in Action?

An example of the role of data analytics in the real world is the way in which gaming companies use these analytics to create reward schedules for players to keep as many players as possible active within a game.

What Is a Data Lake?

A data lake collects unrefined data, allowing users to interactively explore and analyse this information. Data lakes complement data warehouses and other systems of record rather than replacing them.