September 9, 2024
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Analytics Articles

Foundations of Forensic Data Analysis

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Forensic data analysis involves collecting, modeling, and transforming data to identify and highlight potential risk areas, detect non-standard or fraudulent activities that use data, and set up internal controls and processes to minimize a variety of risks. Data forensics can also be used in instances involving the tracking of phone calls, texts, or emails traveling…

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Data Storytelling 101

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Humans are inherently wired for stories. Stories captivate our imaginations, simplify complexity, and provide context – and turn abstract figures into relatable scenarios. Data storytelling takes advantage of this human passion.  In data storytelling, the message is conveyed through engaging narratives, making the data insights inspire a high level of trust among the audience. It empowers stakeholders…

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Evaluating Enterprise Data Literacy

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Any organization that aims toward complete digital transformation must move toward enterprise data literacy. So, what exactly is data literacy? Gartner defines data literacy as: “The ability to read, write and communicate data in context, including an understanding of data sources and constructs, analytical methods and techniques applied – and the ability to describe the…

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How to Build a High-Performance Analytics Team

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When most people think of analytics, they tend to picture a rigidly left-brained data scientist more at home with computer programming than creativity. But analytics leader and author John K. Thompson challenges such a notion. During his keynote presentation at DATAVERSITY’s Enterprise Analytics Online event, he proposed instead that the members of an analytics team can be…

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Fundamentals of Descriptive Analytics

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In descriptive analytics, data aggregation, and data mining techniques are used to collect and review the historical data of a business to gauge the past performance. The most common example of descriptive analytics is the reports that a user gets from Google Analytics tools. A web server’s summarized performance reports may help the user analyze…

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Fundamentals of Data Collaboration

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Data collaboration allows organizations to gain insights beyond what their data provides. By sharing information smartly and selectively with partners, companies can uncover new opportunities and insights beyond their internal repository. Moreover, the emergence of large language models (LLMs) applications  – like Chat GPT – and cloud technologies, make this approach more attractive. As businesses become…

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A Brief History of Data Quality

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The term “Data Quality” focuses primarily on the level of accuracy possessed by the data, but also includes other qualities such as accessibility and usefulness. Some data isn’t accurate at all, which, in turn, promotes bad decision-making. Some organizations promote fact-checking and Data Governance, and, as a consequence, make decisions that give them an advantage….

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How to Become a Data Product Manager

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Becoming a data product manager means taking responsibility for the development and management of data products. Broadly speaking, a data product is any software or algorithms that use data to accomplish a goal. The data product manager is a management position, and requires several years of experience within the data industry to be done well. …

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Types of Data Visualization and Their Uses

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In today’s data-first business environment, the ability to convey complex information in an understandable and visually appealing manner is paramount. Different types of data visualization help transform analyzed data into comprehensible visuals for all types of audiences, from novices to experts. In fact, research has shown that the human brain can process images in as little as…

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Data Discovery 101

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Data discovery deals with extracting useful information from data and presenting it in a visual format that is easily understood. The types of useful information discovered during the process range from finding patterns in human behavior to gaining insights about data glitches to answering highly specific business questions. Using data taken from a variety of…

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