Data Analytics Projects

These flashcards cover key concepts and vocabulary related to data analytics projects, critical thinking, and stakeholder engagement as outlined in the lecture.

Data Analytics

The process of examining data sets in order to draw conclusions about the information they contain.

Critical Thinking

Disciplined reasoning that logically forms conclusions, judgments, or inferences from facts.

Stakeholders

Individuals or groups who have an interest in the outcome of a project, including internal members like employees and external members like investors.

Purpose of Analysis

The reason for conducting an analysis, which defines specific questions that must be answered.

Evaluating Business Capabilities

Assessing the resources and data available within a business to determine what is needed to meet analysis objectives.

Gathering Specific Requirements

The stage in a project where detailed questions are formulated based on stakeholder needs.

Ethics in Data Analytics

Principles that guide the use of data, ensuring that analysis and results align with accepted standards of conduct.

Data Strategy

The plan developed for how data will be used, including types of analysis, datasets, and tools for a project.

SPARKS

A mnemonic representing the six key elements of critical thinking essential for conducting data analytics.

Cost-Benefit Analysis

An assessment of the expected gains from an analysis in relation to the associated costs of executing that analysis.