EFB210 Lecture Notes - Lecture 12: Data Mining, Tumblr, Sentiment Analysis
Lecture 12: Impact of data on business processes
1. What makes it possible now
- Change in technology
- Amount of data collected and available
o E.g. Google reviews
- Data Analytics
- Digitisation
- Affordable technology
- Social media
- Hyper-connected communities and devices
- Cloud computing
- Internet of everything
Data Analytics
Statistical Analysis
- Correlation
o To see if 2 variables are related to each other
o Ends up with a correlation co-efficient between -1 and +1
▪ -1 inversely correlated
▪ 0 no correlation
▪ +1 correlated
- Regression
o Analyses how a dependent variable moves in relation to an independent
variable
o A linear regression is y=mx+c
o Also a standard deviation to see how far are the samples from this relationship
find more resources at oneclass.com
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Document Summary
Lecture 12: impact of data on business processes: what makes it possible now. Amount of data collected and available: e. g. Correlation: to see if 2 variables are related to each other, ends up with a correlation co-efficient between -1 and +1. 1 inversely correlated: 0 no correlation, +1 correlated. Regression: analyses how a dependent variable moves in relation to an independent variable, a linear regression is y=mx+c, also a standard deviation to see how far are the samples from this relationship. Anomaly detection: notifies of unusual activity. Data mining: scanning bd to find statistical relationships, patterns. Predictive analytics: predict future from analysing past. Intentional data: web pages visited, emails and text, phone calls on-line purchases. Meta data data about data: photo meta data, phone, e mail, twitter. Cloud storage: storage bd is too big for your companies computer. Cloud computing (infrastructure as a service iaas) Cloud applications (software as a service saas: xero , etc, https://aws. amazon. com/partners/saas/
