LO3

• name the information categories used by individuals?

  communication, education and training, entertainment, planning, financial, research and location dependant.
• what are the steps of data analysis?

  1. identify the need
  2. define the scope
  3. identify potential sources
  4. source and select information
  5. select the most appropriate tools
  6. process and analyse data
  7. record and store information
  8. share results
• 2. identify the scope

  in this stage the restrictions of the project are defined. scope includes factors such as budget, content, detail, timescales and further constraints.
• 1. identify the need

  objectives are set for what the data analysis will hope to achieve. the aims must be clear and well defined.
• 3. identify potential sources

  must identify a wide range of sources for the potential information, ensuring it is unbiased and covers the objectives.
• 4. source and select information

  the stage where information is gathered and the best is selected. the gathering process uses existing information; for example sales figures.

  the selection process is intended to exclude any information that may not be suitable.
• 5. select the most appropriate tools

  there are many different data analysis tools that can be used as part of this sequence. in this stage the most appropriate tool for the project is selected.

  regression analysis- this is the determining of relationships.

  trend analysis- this shows patterns over time.
• 6. process and analyse data

  the stage at which the data that has been collected is entered into software and analysed. for example data is entered into a spreadsheet and a graph produced to show the information visually.
• 7. record and store information

  the stage at which a report into the findings is written. this includes all of the results that have been processed
• 8. share results

  the final stage of the process is where the results are published so that stakeholders may inspect them. this may be in the form of a written, printed report, or could be pages on a website.
• data tables:

  databases are often split into tables which make sit easier to update, view and manipulate data.

  they allow for the most simple form of pattern discovery and are a good method of speedy, short-term data analysis.
• what are the disadvantages of data tables?

  they can only show current format of data and cannot show change or trends over time.
• visualisation of data is a way of representing data in a way that makes it easier to understand and interpret
• visualisation of data:

  example is producing a chart or graph.

  it makes it easier for an audience to see trends and patterns. and it is easier to understand and its quicker to interpret.
• trend and pattern identification: the process of identifying the trends and patterns in the data
• trend and pattern identification allows trends and patterns to be viewed as a visual format e.g. a line graph of stock sales.

  statistical analysis- to examine numerical data and highlight relationships between different data elements.

  regression analysis- discovering links between variables.
• data cleaning:

  ensures that any stored data is up-to-date and accurate, in accordance with the data protection act (2018).

  it reduces the size of any data tables by removing redundant, incorrect or unnecessary data. it makes it easier to work with the data table and improves the data quality.
• GIS/ Location Mapping:

  geographic information systems are used to add geographic data to any analysis. for example courier services use it to see delays and delivery times in real-time.
• what are the 2 types of information systems?

  open and closed systems.
• open information systems:

  Can interact with other information systems to exchange data, even from different platforms. 

  Because it is open it it more at risk of data loss and/or hacking. 
• closed information systems:

  Is private and cannot exchange data with other systems. Access is limited but is much more secure than an open system. 
• categories of information for organisations:

  Knowledge management and creation  

  Management information system (MIS) 

  Marketing, promotion and sales  

  Finacial analyses and modelling 

  Contact management  

  Decision making  

  Internal and external communication 

  Big data  
• information categories for individuals:

  communication 

  Education and training  

  Entertainment  

  planning 

  Financial  

  Research  

  Location dependant  
• Step 1; Identify the need 

  Step 2; Define the scope 

  Step 3; Identify potential sources 

  Step 4; Source and select information 

  Step 5; Select the most appropriate tools 

  Step 6; Process and analyse data 

  Step 7; Record and store information 

  Step 8; Share results 
• Internal and external communication 

  Providing a communication medium to staff and/or customers   
• Decision making  

  Using available information to make decisions 
• Contact management  

  Managing contact between a business and the customer  
• Financial analyses and modelling 

  Analysing trends e.g. determining the top selling products of the year 
• Marketing, promotion and sales  

  Identifying patterns or trends in sales figures, so that certain products or areas can be targeted. 
• Management information system (MIS) 

  A system that provides an overview ok key information  
• Knowledge management and creation  

  Managing information across an organisation e.g. sharing information between different branches  
• Big data  

  Data that is too large or complex to be analysed using traditional mediums.