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Assignment Week 2 BDA

The document discusses the significance of data analytics in modern decision-making, highlighting various sources of data generation such as sensor data, social media data, and transaction data. It outlines the processes of data collection, cleaning, exploratory data analysis, and different types of analytics including descriptive, diagnostic, predictive, and prescriptive analytics. The conclusion emphasizes that effective data analytics can lead to improved decision-making across various sectors like business, healthcare, finance, and manufacturing.

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4 views

Assignment Week 2 BDA

The document discusses the significance of data analytics in modern decision-making, highlighting various sources of data generation such as sensor data, social media data, and transaction data. It outlines the processes of data collection, cleaning, exploratory data analysis, and different types of analytics including descriptive, diagnostic, predictive, and prescriptive analytics. The conclusion emphasizes that effective data analytics can lead to improved decision-making across various sectors like business, healthcare, finance, and manufacturing.

Uploaded by

fcktspvjq6
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Assignment Week 2

Basics Of Data Analytics

In the provided video lectures, Prof. Dweepobotee Brahma mentions that we are
living through a data revolution where data is generated through various activities in
our daily lives, such as social media interactions, online transactions, and even
sports analytics. For this assignment, consider your daily activities and identify at
least three different sources of data generation.

1.​Describe each source of data and the type of data it


generates.
Sources of Data and Their Types

1. Sensor Data

Source: IoT devices, environmental sensors, smartwatches, industrial machines.


Type of Data: Numerical (temperature, pressure, humidity), categorical (status: on/off), time-series.

2. Social Media Data

Source: Facebook, Twitter, Instagram, LinkedIn.


Type of Data: Text (comments, posts), multimedia (images, videos), metadata (timestamps, user interactions).

3. Transaction Data

Source: E-commerce platforms, banking systems, POS terminals.


Type of Data: Numerical (prices, amounts), categorical (product categories, payment methods), temporal
(timestamps).

4. Web Scraping Data

Source: Websites, news portals, online forums.


Type of Data: Text (articles, blog posts), structured data (tables, HTML tags), numerical (ratings, rankings).

5. Survey and Feedback Data

Source: Online forms, customer feedback portals, reviews.


Type of Data: Categorical (satisfaction levels), numerical (ratings), text (open-ended responses).
2.​ Explain how this data could potentially be used in data
analytics to make decisions or uncover patterns.

1. Introduction

Data analytics plays a crucial role in modern decision-making processes. By analyzing large
volumes of data, businesses, organizations, and researchers can extract meaningful
insights, detect trends, and make informed decisions. This document explores how data
analytics can be used to uncover patterns and drive decision-making.

2. Data Collection and Cleaning

Before meaningful analysis can be performed, data must be collected and prepared. This
involves:

Data Collection: Gathering data from various sources such as databases, APIs, IoT
sensors, transaction records, and social media.

Data Cleaning: Removing inconsistencies, handling missing values, correcting errors, and
standardizing formats to ensure accuracy.

Data Transformation: Converting raw data into structured formats for analysis.

3. Exploratory Data Analysis (EDA)

EDA is an essential step in understanding data. It includes:

Statistical Summaries: Mean, median, mode, variance, and standard deviation provide
insights into the distribution of data.

Data Visualization: Graphical representations like histograms, scatter plots, and box plots
help identify trends, outliers, and correlations.

Correlation Analysis: Identifying relationships between different variables can highlight


influential factors.

4. Identifying Patterns and Insights

By leveraging analytical techniques, organizations can extract actionable insights. This can
be categorized into four main types:
a) Descriptive Analytics

Descriptive analytics focuses on summarizing historical data. Examples include:

Sales trends over time.

Customer segmentation based on demographics.

Website traffic analysis.

b) Diagnostic Analytics

This type of analytics helps answer the question, "Why did this happen?" by investigating
causes of specific trends or anomalies. For example:

Analyzing factors contributing to customer churn.

Determining reasons for a sudden drop in product sales.

c) Predictive Analytics

Predictive analytics uses historical data and machine learning algorithms to forecast future
outcomes. Examples include:

Predicting customer demand for inventory management.

Forecasting stock prices based on market trends.

Identifying potential fraud in financial transactions.

d) Prescriptive Analytics

Prescriptive analytics goes a step further by suggesting optimal actions based on


predictions. Examples include:

Recommending personalized marketing campaigns.

Optimizing supply chain operations.

Providing dynamic pricing strategies based on market conditions.

5. Data-Driven Decision Making


Organizations can leverage data analytics to improve decision-making in various domains:

Business: Enhancing customer experience, optimizing marketing strategies, and improving


operational efficiency.

Healthcare: Predicting disease outbreaks, personalizing treatment plans, and optimizing


resource allocation.

Finance: Detecting fraudulent transactions, managing risk, and optimizing investment


strategies.

Manufacturing: Predictive maintenance, optimizing production lines, and reducing


downtime.

6. Conclusion

Data analytics is a powerful tool that enables organizations to make evidence-based


decisions and uncover hidden patterns. By following a structured approach to data
collection, exploration, and analysis, businesses can gain a competitive edge, optimize
processes, and drive innovation.

3.​Create a simple infographic or diagram to visually present


your findings. Use any software or online tool of your
choice (like Canva, PowerPoint, etc.) and upload your
infographic as part of your submission.

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