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Fundamentals of Analytics

This page contains vital fundamentals that we need to know to do analytics. Mostly, knowledge about statistics and data is essential for the analytics related subjects i.e. social media analytics, web analytics or business analytics.

Topic wise Description

We shall move ahead with all the basic concepts that we need to know for learning the analytics.

Social Media

See the page "social media analytics" for basic terms.

Web

Network of interconnected pages and people through machines, wires and wireless technologies world wide. Often known as www (World Wide Web).

Data

A character-- a letter, number, symbol or combination of these. For example "A" is data showing letter. "1" is data showing a number identified as "one". "$" is identified as "dollar" and represents another type of data. Data are of many types based on the domain and application of tools. Data can be unstructured, structured, discrete, categorical. Likewise, it can be also categorized as quantitative and qualitative.

Graph

A graph is mathematical representation of set of objects (nodes) connected with each other. The connection may connect all or some nodes

Social Networks

Social network is made up of individuals connected with some relationship. For example: individuals seeking help in neighborhood, individuals reporting structure in an organization and people connected via machines over internet to exchange information. 

Analysis

The process of putting data to generate information. For example, in the simplest term, adding 1+1 is process of analyzing two numbers resulting to adding the two number and giving us the result "2". It can be complex by adding these numbers in a binary system of computing. Statistical measures mean, frequency are techniques of analyzing data. See the statistics page for the basics of statistical analysis.

Analytics

Application of statistics and computational techniques (e.g. machine learning) to make meaningful decisions. 

Descriptive

Explaining the situation as it by using simple statistics e.g. frequency, count, percentage can help answer the questions beginning with "What". Example: What is the current population of the world?

Prescriptive

Using advance tools of analysis to prescribe desirable course of action in analytics.

Predictive

Processing the data to predict future outcomes.

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