Data analytics: A disruptive innovation
Data analytics is one of the fastest-growing professional fields in the world today, and the video showed how data analytics is a disruptive innovation that enables organisations to boost their business performance significantly.
Data analytics versus data analysis
Before we proceed to learn more about data analytics, it is crucial for you, as an aspiring data professional, to be able to distinguish between two terms that are often used interchangeably but are not the same.
| Data analytics | Data analysis |
|---|---|
| Data analytics is the process of examining raw data, finding patterns, drawing inferences and making predictions. | Data analysis involves inspecting, cleansing, transforming, and modelling past data to discover useful information, inform conclusions, and support decision-making. |
Reflect
You would most likely have heard about the epic downfalls of Kodak, Xerox, and Blockbuster. One of the primary reasons for their failures was their delay in recognising game-changing, disruptive technologies, which unseated their position as industry leaders.
The learnings from these events have prompted organisations to become more data-driven to be on top of global trends. Now, reflect on your experience within your organisation and respond to the following questions in the comments section:
- How has your organisation been responding to disruption as a result of data analytics?
- Where do you see opportunities arising for professionals with analytical skills within your organisation?
Next, let’s watch a video to learn about advanced data analytics.
Introduction to Data Analytics with Python
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