Introduction to Data Analytics Rola) Sie eel sii Copyright ©2020, Smartademy Pt, Lid Al ights reserved,Raise hands if you are. a. Currently working, have not done any data analytics b. Currently studying, have not done any data analytics ¢. Have done some data analytics in the past 2. Share with the class your name, what you do, and a brand/ company that you think kicks ass in data analytics Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved. ‘Smarteademyat How to get the most rete) 1. Practical > theoretical. Get involved! 2. Be data-driven. Not just a buzzword, time to get your hands dirty. 3. Intellectual curiosity. Don't hesitate to ask any questions. a. Zoom Q&A, Chat b. Telegram 4. Apply learnings in context. It’s all about what business you are working on. Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. eelLesson 1: Learning Objectives What is data analytics? 2. Why is data analytics important? 3. Course Roadmap 4. Howdo we define our problem statement and identity key metrics for our business objective 5. Which are the key method we should consider for our data analytics problem statement Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. eelVE mee Pelee atotoed Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aWhat my parents think I do What society thinks | doWhat my boss thinks | do PTE Aiea MUL @ (oFit does a data analytics analyst do? Va Re-Ceitc WVae [oyEl ae WAU Wt ered Data analytics involves 9 examining massive amounts _? of data to uncover hidden © patterns, correlations and other insights to drive decision ~ making in companies of all sizes. Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved.Analytics 1.0 Analytics 2.0 The era of “business intelligence”. The basic conditions of the Analytics For the first time, data about 1.0 period predominated for half a production processes, sales, century, until the mid-2000s, when ‘customer interactions, and internet-based and social network more were recorded, firms primarily in Silicon aggregated, and analysed. Valley—Google, eBay, and so on—began to amass and analyze new kinds of information, The era of big data Copyright © 2020, smarteademy Pte. Ltd. All sights reseed Analytics 3.0 The era of data-enriched offerings ci Analytics 3.0 marks the point when other large organizations started to follow suit. Today it's not just information firms and online companies that can create products and services from analyses of data. It's every firm in every industry.Why is Data Analytics important? Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aCase Study 1: Predicting and understanding attrition rates Copyright © 2020, smarteademy Pte. Ltd. All rights reserved. “Why do people leave companies?” Is a complicated question. But according to OCBC Bank's head of group human resources, the answer lies in the data.Case Study 2: Insurance Analytics in Tableau INSURANCE FRAUD OVERVIEW ti 2,270 90M $33,721 ee tie ty : Ta a = SAU cies ance Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved.Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved. Source: Hitachi-solutionsHow to do Data Analytics? Define the question or goal behind the Collect the right data to Perform data cleaning to improve data quality analysis: what are you trying to discover? and prepare it for analysis and help answer this question. interpretation-getting data into the right format, getting rid of unnecessary data, correcting spelling mistakes, etc. Manipulate data. This may include Analyze and interpret the data Present this data in meaningful ways: graphs, plotting the data out, creating pivot using statistical tools (Le visualizations, charts, tables, etc. tables, and so on. finding correlations, trends, outliers, etc.) Data analysts may report their findings to project ‘managers, department heads, and senior-level business executives to help them make decisions Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved. ‘and spot patterns and trends.Course Roadmap Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aPython is @ programming language for statistical computing ‘and graphics, itis widely used among statisticians, data miners, data analysts, business analysts, and data scientists for developing statistical software, data analysis, machine learning and 9.0n, ‘SQL (Structured Query Language) isa language used to interact with databases that store data, allowing us to retrieve dota quickly and easily. Data visualization helps key decision-makers in a business (usually non-tech senior execs) see analytics presented visually in graphs, charts, etc. so they can identify trends cond pattems and understand complex information Copyright © 2020, Smarteademy Pte. Ltd. All rghts reserved. “Python gives aspiring analysts and data scientists, the ability to represent complex sets of data in an impressive way" Python has been adopted by many high-profile companies ike Google and Facebook as. the language of choice to analyze dato. ‘SQL cllows you to perform operations on milions of rows of data. I's the 2nd most in-demand skil for data anaiysis jobs (only after data analysis tse It you are creative, this may be the perfect skil to learn. Learning data visualization can give you an edge over other job applicants since employers are looking for people who understand both the science ‘and art behind dota analysis.What to Expect from this Course Ue ea gm atts Detar ansl ies TSE | irivriitpeteweny) © Data Analytics objectives and case studies in finance industry Data Analytics landscape EM |) Sainte Daa Types bata Stuctures + Fundamenas of Statist ped Basic statistics using python {Exploratory Data Anas ‘Introduction to Data Visualisation ory ‘¢ Identifying the right chart to use ‘¢ Introduction to web crawlers Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved. SmartcademyWhat to Expect from this Course esr ae ee outelna, a Dashboard Creation & Formatting A Aad * Storytelling skills Mock Presentations [PME Iareiad en Porc) © Course Review Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved. SmartcademyIn order to pass this course, students need to: 1. Pass a minimum of 3 MCQ tests AND 2. Pass their Capstone Project Copyright © 2020, smarteademy Pte. Ltd Allrghts reserve. MCQ Quiz (25 Before Lesson2 | 13 Questions) MO Quiz (25 Before Lesson3 [13 Questions) MO Quiz (25 Before Lesson [13 Questions) MO Quiz (25 Before Lesson5 | 13 Questions) MO Quiz (25 Before Lessoné | 13 Questions) MO Quiz (25 Before Lesson? [13 Questions) Capstone Project, Referto instructor | Referto Dashboard RubricsCopyright © 2020, smartcademy Pte Ltd. All rights reserves For your fnal capstone project you should ‘© Prepare a 10 page slide deck in response to one ofthe three case studies, and ‘showhow you address them through your data analytics techniques. ‘© Your slide deck should cover the following: 1 2. Define your business objective or problem statement and identify relevant metrics Identity lealy the sources of data and steps taken extract the data from the Collect, consolidate and organise the data Exploratory data analysis to ensure the data integrity and data quality is ‘suticient to conduct analysis Working Tableau Dashboard wth a minimum of different chart types that hhelp address the problem statement ‘Showproper data analysis to approach the chosen case study Using the dashboard, demonstrate how you can derive data driven decisions ‘© Design a dashboard that can visualize your data. The dashboard should showat least two diferent charts (ine charts, maps, bar charts, etc.) and idertity 2 recommendations or 2 insights based on your detned problem statement. Focus on ‘the organization ofthe dashboard, the use of colors, the labeling ofthe axes, to ‘ensue i looks professional ‘SmarteademyData Analytics Pa) Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aalytical concepts > Descriptive analytics @ utilizes data to understand past and present > Predictive analytics @ analyzes past performance to predict the future > Prescriptive analytics @ uses optimization techniques to recommend the best solution Copyright 2020, Smartcademy Pt. Ltd. Al rights reserve. aAnalytical concepts > Data aggregation » Snapshot ofthe past > When you want fo EEE (eee > Data mining » Limited abilty o ‘summarize results for apy ete clan ‘Quide decisions allpart of your business » Statistical models » Guess at the future > When you want to ile > Simulation Helps inform fow ‘make an educated roy oa complexity decisions guess at likely results Optimization models» Most effective where * When you have (ore > Heuristics you have more Jimportant. complex or control over whet ie ‘time-sensitive Oe being mode decisions to makenalytical concepts ta Science lOptimization “What's the best that can happen?" Prescriptive Analytics Randomized Testing “What if we try this?” Predictive Modeling/ “What will happen next?” Forecastin, ee Predictive Analytics [Statistical Modeling “whys this happening?” lAlerts “what actions are needed" lQuery/Drill Down “What exactly is the problem?" Descriptive Analytics |Ad hoc reports/ “How many, how often, where?” |Scorecards |standard Reports “What happened?” cnrpree Andy testy Oevenprt 2 Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved.Quick introduction to Data An Overview Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aEEN amor4Vs of Big Data OLUME ARIETY ELOCITY ERACITYDATA: BY THE NUMBERSInitial approa e@ UNDERSTAND the data o Where is it from? o What does it represent? o When was it collected? o Does it potentially contain errors? e Qualitatively analyze each variables first o Are they important? o Are they related to other variables? = Ill ca e Exploring actual data o Data types o Common values/ outliers o Errors o Summarizing each columns (variables) Copyright © 2020, smarteademy Pte. Ltd. Allrghts reserved. “Words Numbers Unstructured Structured Can be observed, hard to measure Can be measured Quality is important Quantity is importantTypes of Data Discrete e Can be counted as opposed to being measured e Fixed Values within a Fixed Range e Eg. Time in hours, Days in a wee! ¢ Continuous e Can_take on an infinite range of values e E.g. Temperature, Weight 36ypes of Da Categorical © Nominal Data ¢ No quantitative relationships between each other e Example: Students’ race — ['Chinese’, ‘Malay’, ‘Indian’, ‘Others’] © Ordinal Data © Quantitative relationships present, can be ordered fuents’ weight category— [‘Underweight’, ‘Normal’, 37ypes of Data - Quantitative ¢ Interval Data ¢ Similar to ordinal data, but with constant differences e Example: Students’ score — [10, 20,30, 40] * No meaning in ratio: Student who scored 40 does not means they are 4times smarter than students scoring 10 Ratio Data ¢ Ratios are meaningful e Example: Students’ actual weight in kg— [40, 60, 80, 90] 38ns to ask about the data Nature of the data * If data is ordinal/interval/ratio, will it make sense of it is sorted? + Is there a range for possible values? * What are the mathematical operations we can perform on the values? 39If | would like to find out whether number of bedrooms or reviews affect overall satisfaction, will all of the data be relevant? roams siey sd __onki6 Tom.Npe enuney —_ohy_bogh ralgbntaed vis over tcton sosommodaiNs betas © oreo amo cristo SHO tan Shame MN MA 8 as 10 + syysmoo rano ssemeeno SMO? nan Shon MN TIT 180 so wo 1 2 sossro amo srosseno SMO nan Seon MN MRD oo wo 10 3 ome rane eeatmao SMO? naw Shop NN MAD 00 eo wo 1 4 tomo rao cota SMO nam Seon MM 18 oo 1 © suze raano sterseso SMO? naw Shot MN MAG eo 2 © soresico ramo storocso SMO nan Seon MN TST 1 oo wo 40umm ng Datase +Astatistic is a a fact or piece of data obtained from a study of a large quantity of numerical data. Let's start with basics: * Mean: Average of a numerical quantity *eg.:[1, 2,7, 10,15] +7 : “The middle item” (requires an ordering) 1,2, 7,10, 15] >7 2, 7,8, 10, 15] > 7 to 8 (Some would say (7+8)/2 = 7.5) ‘shortest; ‘short’ , ‘average; ‘tall, ‘tallest’] > ‘average ‘shortest, ‘short’ , ‘tall, ‘tallest’] > ‘short’ or ‘tall (cannot divide by 2) lost frequently occurring item *e.g.:[1.2,2,7,10] +2 aThe 5 Number Summ 1. Minimum: Smallest value 2. First/Lower Quartile: 25% of the collection is less than or equal this 3. Median / 2nd Quartile: 50% of the collection is less than or equal this; 50% of the collection is greater than or equal to this 4. Third/Upper Quartile: 75% of the collection is less than or equal this 5. Maximum: Largest value Lonmerquariie Median —_Upperquartle (singapore oata science scadery 2arson’s Correlatio' Correlation (the Pearson correlation coefficient) measures the strength and direction of the linear relationship between two variables and can take on any value between -1 and +1. e Values close to -1 or +1 indicate a strong and linear relationship between the two variables. e Values close to 0 indicate a weak and/or nonlinear relationship between the two variables. e Values above 0 indicate a positive relationship between the two variables. e Values below 0 indicate a negative relationship between the two variables.Correlatio = ‘Cunviinear | rong negative relationshipData Quality Standards Pa) Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aai Completeness / Comprehensiveness Consistency Accuracy Format Timeframe Validity / Integrity1. ‘ta Quality Standards Completeness / Comprehensiveness: Ask what essential fields have to be filled in for a dataset to be considered complete. For example, Name and address may be crucial to the completeness of the data, while a customer’s gender is less essential. Possible Questions you can ask: 1. Are there any optional fields in the data collected? 2. Isall the necessary information available? 3. Do any data values have missing elements? Or are they unusable?‘a Quality St rds 2. Consistency: All iterations of a piece of data should be the same. Take a given month's web traffic for example - in every report, platform, or spreadsheet, is the number of website visits in that month the same? Or, are there inconsistencies across these data? A lack of consistency in these points could lead to confusion down the road. Possible questions you can ask: 1. Are data values the same across the data sets? 2. Are there any distinct occurrences of the same data instances that provide conflicting information?ita Quality Standards 3. Accuracy: While consistency is about having the same value across all channels, accuracy is about ensuring those consistent values are correct and closely reflecting the reality of the results. Possible questions you can ask: 1. Do data objects accurately represent the “real world” values they are expected to model? 2. Are there incorrect spellings of product or person names, addresses, and even untimely or not current data?ita Quality Standards 4. Format: To avoid inaccuracy or confusion, make sure data entry formats are consistent. For example, you do not want the year to be entered in some locations as ’19 and in other locations at 2019. Possible questions you can ask: 1. Do data values comply with the specified formats? 2. Ifso, do all the data values comply with those formats? Maintaining conformance to specific formats is important.‘ta Quality Standards 5. Timeframe: Timeliness of data refers to whether decisions marketers have data insights at the optimal time, and ho current the data is. Do you have the data when you need it, and are you referencing the most up to date version of the dataset? Timeliness depends on: ‘Companies that are required to publish their quarterly results within a given frame of time ‘Customer service providing up-to date information to the customers Credit system checking in real-time on the credit card account activity The timeliness depends on user expectation. Online availability of data could be required for room allocation system in hospitality, but nightly data could be perfectly acceptable for a billing system.‘ey Data Quality St rds 6. Validity / Integrity: This criteria looks as whether a dataset follows the rules and standards set. Are there any values missing that can harm the efficacy of the data or keep analysts from discerning important relationships or patterns? Possible questions you can ask: 1. Is there are any data missing important relationship linkages?OTL Meee eda PM emer Cerone Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aRS Sica Cy 100 x (1 + .08) = 108 Monthly Rate = (1+ >) = Pyne A=Px(1+7)Hands-on!Recap of Lesson 1 What is Data Analytics Data Analytics Use Cases in Finance Industry Types and Sources of Data Data Quality Standards RWNP Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. agp SmortondemyCase Studies * MCQs © Case Study 1: https://Awww.pwe.com/id/en/publications/Actuarial/d ata-analytics-financial-services.pdf Case Study 2: https://www.mckinsey.com/~/media/McKinsey/Busin ess%20Functions/Marketing%20and%20Sales/Our%2 Olnsights/EBook%20Biq%20data%20analytics%20and %20the%20future%200f%20marketing%20sales/Big-D ata-eBookashx Case Study 3: https://www2.deloitte.com/content/dam/Deloitte/glo bal/Documents/Financial-Services/qx-be-aers-fsi-credi t-scoringpdf Copyright © 2020, smarteademy Pte. Ltd Allrghts reserve.Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. aTHANK YOU Copyright ® 2020. Smartcademy Pte. Ltd. All rights reserved. a