B.A

• Limitation of use


  Organizations need to delete information when it's no longer needed.
• Data Accuracy


  The accuracy of personal data us integral to data protection
• Data Security


  The security principle requires that agencies must protect data under their stewardship with reasonable measures to prevent loss, unauthorized access or disclosure.
• Transparency


  Organizations need to make sure their collection practices don't break the law and they aren't hiding anything from data subjects.
• General Data Protection Regulation


  GDPR
• GDPR


  It is a primary law regulating how companies protect EU citizens' personal data.
• LEGAL AND ETHICAL ISSUES IN THE USE OF DATA AND ANALYTICS

  Data privacy laws are designed to protect individuals' data from being used against their wishes.
• Analytics for Government and Nonprofits

  Government agencies and other nonprofits have used analytics to drive out inefficiencies and increase the effectiveness and accountability of programs.
• Supply Chain Analytics


  The core service of companies such as UPS and FedEx is the efficient delivery of goods, and analytics has long been used to achieve efficiency.
• Human Resource (HR) Analytics


  Google has analyzed substantial data on their own employees to determine the characteristics of great leaders, to assess factors that contribute to productivity, and to evaluate potential new hires.
• Marketing Analytics


  Descriptive, predictive, and prescriptive analytics are all heavily used in marketing.
• Financial Analytics


  Predictive models are used to forecast financial performance, to assess the risk of investment portfolios and projects, and to construct financial instruments such as derivatives
• Implementing the solution


  This simply means making it work in the organization, or translating the results of a model back to the real world.

  Make the solution work in the organization by providing adequate training and resources.
• Interpreting results and making a decision


  phase is crucial in making good decisions.

  Models cannot capture every detail of the real problem, and managers must understand the limitations of models and their underlying assumptions and often incorporate judgment into making a decision.
• Analyzing the problem


  involves some sort of experimentation or solution process, such as evaluating different scenarios, analyzing risks associated with various decision alternatives, finding a solution that meets certain goals, or determining an optimal solution.
• Structuring the problem


  This usually involves stating goals and objectives, characterizing the possible decisions, and identifying any constraints or restrictions.
• Defining the problem


  The second step in the problem-solving process is to clearly define the problem. Finding the real problem and distinguishing it from symptoms that are observed is a critical step.
• Recognizing the problem


  Problems exist when there is a gap between what is happening and what we think should be happening.
• A decision model


  a logical or mathematical representation of a problem or business situation that can be used to understand, analyze, or facilitate making a decision.
• Ratio Data


  Continuous values and have a natural zero point. Ratios are meaningful.
• Interval Data


  Same as ordinal data but with constant differences between observation. Ratios are not that meaningful.
• Ordinal Data


  Data that is ranked or ordered according to some relationship with one another and no fixed unit of measurement.
• Categorical (nominal) data


  Data placed in categories according to a specified characteristic.
• Database


  collection of related files containing records on people, places, or things.
• Data set


  simply a collection of data.
• Prescriptive Analytics


  uses optimization to identify the best alternatives to minimize or maximize some objective
• Predictive Analytics


  seeks to predict the future by examining historical data, detecting patterns
• Descriptive Analytics


  use of data to understand past and current business performance and make in-formed decisions
• BUSINESS ANALYTICS


  It is a process of transforming data into actions through analysis and insights is supported by various tools.