electure

• Data

  Any information, facts, or figures that can be collected, stored, and analyzed
• Data in business

  • Can come from various sources, such as sales transactions, customer interactions, market research, and financial records
  • Includes everything from numbers and text to images and videos
• Digital data

  Information that is stored, transmitted, and processed in a digital format, typically represented using binary code (0s and 1s)
• Digital data

  • Text
  • Numbers
  • Images
  • Videos
• Digital data

  • Fundamental to modern technology and is used in various applications, such as websites, social media platforms, e-commerce transactions & etc.
  • Enables computers and electronic devices to store, manipulate, and communicate information quickly and efficiently
  • Businesses rely on digital data to drive operational efficiency, inform strategic decision-making, personalize customer experiences, and fuel innovation
• Importance of digital data in business

  • Data-driven Insights
  • Strategic Planning
  • Operational Efficiency
  • Personalized Customer Experiences
  • Continuous Improvement
• Qualitative data


  Descriptive information (it describes something)
• Quantitative data


  Numerical information (numbers)
• Types of quantitative data

  • Discrete data
  • Continuous data
• Structured data

  Data whose elements are addressable for effective analysis, organised into a formatted repository typically a database
• Unstructured data

  Generally free-form text or binary objects that contain no mark-up, or metadata to define the organization of data
• Semi-structured data

  Information that does not reside in a rational database but that have some organizational properties that make it easier to analyze, lacks a well-defined global schema spanning all records, each data record is augmented with its schema information, JSON and XML are popular examples
• Types of data collection techniques

  • Surveys
  • Interviews
  • Observation
  • Experiments
• Surveys

  Gathering information from individuals or groups through structured questionnaires or interviews, aiming to collect opinions, preferences, or feedback on specific topics
• Interviews

  Conversations conducted with individuals or groups to gather detailed information, insights, or opinions on specific topics
• Observation

  Watching and recording behaviour, actions, or phenomena in real-world settings without direct intervention
• Experiments

  Manipulating variables in a controlled environment to observe and measure their effects on outcomes, often used in scientific research or testing hypotheses
• Examples of data mining in businesses


  • Customer Behaviour and Transactions
  • Operational Data
  • Business Data Analysis
  • Human Resources Data
  • Employee Training Data
• What is data mining?

  process in which large sets of data are analyzed to uncover patterns, trends, and relationships that may not be readily apparent