Data analytics and insights | data classification process

Journey of Data

The most important element in driving a company's operations efficiently and successfully is making the correct business decisions, which originate from meaningful or actionable insights rather than transactional data. There are four steps in the data journey that lead to actionable insights :

Data analytics and insights | data classification process



Data is the raw and unprocessed facts in the form of numbers and text, can be quantitative (measured) or qualitative (observed)

Information is the processed, structured and human-friendly presented form of data

Insights is generated by analyzing information and highlight conclusions

Actionable Insights is the set of business insights to take the action immediately for a meaningful outcomes

Raw data, or unprocessed facts like numbers, letters, symbols, and pictures, are stored in a database. Once processed, structured, and aggregated, data becomes information. The information is processed and turned into reports, dashboards, and data visualizations. Finally, when a set of actions is chosen, insights become actionable insights. 

Comments

Post a Comment

Popular posts from this blog

What Is Data Profiling? Steps and Types of Data Profiling

Image
What Is Data Profiling? Steps and Types of Data Profiling Data Profiling is the analysis of source data to determine how it is structured, what it contains, and how it interacts with other data, as well as the identification of projects that could benefit from it. Data Profiling Procedures Step 1: Conduct data profiling at the beginning of a project to establish if the data is suitable for analysis and if the project should continue. Step 2: Before putting the source data into the target database, identify and resolve any quality concerns with the source data. Step 3: As the data moves from source to destination, look for data quality issues that can be fixed using Extract-Transform-Load (ETL). Profiling data can tell whether additional manual processing is necessary. Step 4: Use unexpected business rules, hierarchical structures, and relationships between foreign keys and private keys to refine the ETL process in step four. Data Profiling Types Content Discovery: An individual
Read more