Intro to Analytics 2.1.1

data analytics lifecycle

A structured approach to address big data issues and data science projects, consisting of six phases that help teams derive actionable insights from data.

big data

Refers to the vast amount of information collected, stored, and analyzed by businesses and organizations, characterized by variety, velocity, veracity, and volume.

variety

The diverse types of data, including structured, semi-structured, and unstructured formats, coming from sources such as text, images, videos, and sensor data.

velocity

The speed at which data is produced, collected, and processed, highlighting the need for quick analysis and decision-making based on the data gathered.

veracity

The accuracy, reliability, and quality of the data collected and analyzed, essential for gaining valuable insights and making informed decisions.

volume

The sheer amount of data generated and handled by businesses, dealing with enormous quantities ranging from terabytes to petabytes.