Kindly give three insights from the text below and why you found them enlightening, how will these insights help to our studies and our future.

REFERENCE:

Data analysis

5Vs

1. Volume - the amount of data

2. Velocity - the speed of data

3. Variety - the different types of data

4. Veracity - the quality of data

5. Value - the usefulness of data

Driving business results through data and analytics

3 pillars of success blah blah

insights

data-driven insights - describes a strategic process of leveraging insights from data in order to take an informed action.

influence

craft a powerful story to drive

innovation

types pf data analytics

- descriptive (tells u what happened)

- diagnostic (why it happened)

- predictive (what will likely happen)

- prescriptive (what u should do)

DATA TO INSIGHTS

your objective is your compass

- is my problem the high 8ncrease of spend or the lack of growth in brand c?

data hygiene is king

- are the spend transactions correctly tagged to each brand and to each type?

business acumen is queen

- brand A spends increased the most but proportional to increase in brand A sales

watch out for bias

INFLUENCE

Data storytelling - is a structured approach to communicate the insights and drive action

Narrative - context and call to action

be clear with your intention

Data - correct data and analytics

data preparation

(Data cleansing, data blending)

analysis and conclusion

communication

Visuals - easier to understand and interpret

use the most effective chart

(Bar, trends, relationships, details, changes, attention)

use design principles

(No to chart junk, sort them nicely, color theme intuitively)

use headlines and callouts

by

DATA MATURITY - is the journey towards improvement and increased capability in using data

stages of data maturity

reporting

analyzing

optimizing

empowering

innovating

Data has created endless possibilities for business success

drive growth (unlocking opportunities)

increased productivity (automating process)

protect assets (landing controls)

create new capabilities (prescribing, machine learning)

Supply Chain and Analytics

WHAT IS SUPPLY CHAIN???

- is a network of organizations, people, and resources involved in moving a product or service

Network

supply chain

raw material > supplier > factory > distribution > retail > customer

plan > source > make > deliver

To meet the demands of end customers

the lifeblood of a business

- provides stock

- ensures delivery

- determines investment

WHAT IS ANALYTICS??

- is the process of discovering, interpreting, and communicating significant patterns in data

The pursuit of finding meaning in data

Data - observations, facts, statistics

Decisions - an action to derive conclusion after consideration

A supply chain is a complex network with immense layers of data and information

Analytics help drive efficiency and effectiveness through tools and defined principles