Business Intelligence: It is a set of methodologies, processes, architectures, and technologies that leverage the outcomes of information management processes for analysis, reporting, performance management, and information delivery.
Data Analysis: The process of examining data sets for their transformation and visualization. Thus, conclusions are drawn about the information they contain to manage indicators.
What does a data analyst do?
Data analysts seek to determine how data can be used to answer questions, solve problems, and generate insights.
They study what is happening now to identify trends and make predictions about the future.
1. Infrastructure and Preparation
- Design, create, and maintain databases and data systems.
- Cleaning and preparing data.
- Develop and maintain related codes, storage, and data processing.
- Data mining from primary and secondary sources.
2. Exploration
- Analyze and interpret results using statistical tools and techniques.
- Identify trends and patterns in data sets.
- Identify new opportunities for process improvement.
3. Monitoring
- Creating metrics to assess desired outcomes.
- Providing data reports and dashboards for management.
4. Strategic
- Working alongside engineering and management teams providing support in decision-making and establishing data-based goals.
Types of Data Analysis
- Descriptive: What happened? What is it? Describes key patterns in the existing data, allows observing common situations and behaviors, understands the situation of a metric and sees its behavior in the past.
- Diagnostic: Why did this happen? Understands the root cause of the problem. Conclusions are based on historical data identified in the descriptive analysis.
- Predictive: What will happen? Identifies future behaviors, based on historical information.
- Prescriptive: What should be done? With simulations and optimizations, the information resulting from the predictive analysis is compared to implement an action.
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