Drivers and Strategies for Data Analytics

Identify the drivers
and strategies for data
analytics

Contents
Introduction................................................................................................................................3
SCENARIO 1.............................................................................................................................3
What is big data and give examples of how ABC Ltd can gather big data?..........................3
What are the 4 V’s of big data?..............................................................................................3
What is structured data, unstructured data, and semi structured data with examples? (If
possible, your examples should be linked to retail sector).....................................................4
How can data analytics be used to improve decision making in ABC Ltd?..........................5
SCENARIO 2.............................................................................................................................5
Calculate using Excel functions various descriptive statistics...............................................5
SCENARIO 3.............................................................................................................................6
Discussion related to Pearson’s correlation matrix using SPSS, following an interpretation
related to the relationships formed between variables...........................................................6
SCENARIO 4.............................................................................................................................8
What does 'Data' mean and how could it be perceived considering information, as well as a
full clarification of Regression and the way things are applied in business..........................8
CONCLUSION..........................................................................................................................9
REFERNCES...........................................................................................................................10
Books and Journal................................................................................................................10

Introduction
Data is the raw information that stakeholders collect in order to analyse it and aid
them in the company's decision-making process. Data on many issues gives consumers with
insights and improves the company's credibility through improved management over time.
Decision-making is an important feature that organisations employ to run and act efficiently
in the marketplace. Four possibilities based on data analytics are highlighted in the following
study. In the first scenario, a broad overview of big data is given, followed by an example of
its use in the instance of ABC ltd. The second case demonstrates how to evaluate huge data
using Excel and its functionalities. The final case demonstrates how to use SPSS to determine
the link between several variables. The paper concludes with a discussion of the role of
information in decision-making.
SCENARIO 1
What is big data and give examples of how ABC Ltd can gather big data?
Big Data is the combination and is a type of structure similar structure and
unstructured data which is collected by the company and that can be mined for the
information and that is used in machine learning project as well as for the predictive
modeling and other advanced analytics applications. It is a kind of metrological approach that
helps the organization to collect the data and evaluate the massive Amount of the particular
data from the variety of the sources so that they can capture a complete and appropriate
picture of an company operation in order to derive insights and make critical business
decision. In order to gather a big data it is very important for the ABC organization to
conduct and focusing on the online marketing analytics because it helps them to collect the
effective data and also conduct loyalty programs in cards because loyalty programs are a
popular practices for the retailers in order to build brand loyalty and brand image. Apart from
this the organization are also required to focusing on the social media activity and
communicate with their customer directly and tracking their information indirectly in order to
maintain their connections and enhance their relationship with their consumers.
What are the 4 V’s of big data?
There are four V’s of big data and that is volume, velocity, variety and veracity.
Volume: It should come as no surprise that Big Data has a big volume. Every day, people
generate 2.3 trillion gigabytes of data, according to estimates. And it's only going to get