Category: Analytics

WHAT IS DECISION SCIENCE?

Decision science is often compared to similar fields that apply analytics, algorithms, machine learning and artificial intelligence to business. “While data science is perhaps the most broadly used term, ‘decision science’ seems like the more fitting description of how machines are assisting business leaders in solving problems that have traditionally relied on human judgment, intuition… Read more »

INTRO TO BIG DATA: BASIC IDEAS AND TERMS

Similar to “the cloud,” the term “big data” is often referenced when discussing modern technology, but it is not always understood fully. Not many people grasp the meaning, purpose and potential of big data. The following sections explain big data and related topics in analytics. What Is Big Data? TechTarget defines big data as “an… Read more »

HOW TO LAUNCH A CAREER IN ANALYTICS

Ninety percent of the data in the world today has been created in the last two years alone, according to IBM. Purchase transaction records, digital pictures and videos, social media posts, cellphone GPS signals and more create 2.5 quintillion bytes of data each day — enough to fill 100 million Blu-ray Discs. Big data has… Read more »

WHAT IS A BUSINESS ANALYST: ROLES AND RESPONSIBILITIES

Business analysis is a relatively new profession that encompasses several roles and titles. “What is expected of today’s analyst varies so widely from organization to organization and from project to project that it is neither possible nor practical to come up with a one-size-fits-all comprehensive description of what a business analyst does and the roles… Read more »

5 MAJOR DATA MINING TECHNIQUES BEING USED BY BIG DATA

Data mining involves “processing data and identifying patterns and trends in that information,” according to IBM. “Data mining principles have been around for many years, but, with the advent of big data, it is even more prevalent.” Ninety percent of data in the world today has been created in the last two years alone, IBM… Read more »

DATA ANALYST VS. DATA SCIENTIST: WHAT’S THE DIFFERENCE?

The emergence of big data has created a need for professionals who can take advantage of these large data sets. According to McKinsey Global Institute (MGI), the United States faces a significant shortage of people with deep analytical skills as well as managers and analysts with the knowledge to use big data to make effective… Read more »