Unit 3 Data analytics and insight Overview

Definition:

Data = a collection of facts. Analytics = organizing and examining data. Insights = discovering patterns in data.

These phrases are also distinguished by a linear aspect. As follows, data is collected and arranged, then analyzed, and insights are developed.

Data, analytics, and insights are critical components of modern enterprises. Data is the digital gold that propels everything in today’s tech-driven world. It is what enables us to employ advanced analytics to generate intelligent insights. These three factors are intertwined and work together to assist us extract information from data. You can’t conduct analytics without data, and you can’t make sense of the insights without analytics. However, individuals frequently mix up these terms and use them interchangeably, which can be misleading. So, let us attempt to explain and comprehend what each of them entails.