Key Takeaways from Coffee Talk with Champion - It's All About DATA
Throwback - Coffee Talk with Champion with topic It's All About Data.
We are proudly announce it was a success session not to be missed by Data Analyst professionals.
For those who did not manage to attend the conference, fret not as we have compiled key takeaway points for your benefit.
Data – A collection of facts (numbers, words, measurements, observations, etc) that has been translated into a form that computers can process. In general, data is simply another word for information. Data is everywhere. It will come from any various of data.
Data Analysis Techniques - After the collection of raw data, there must be an analysis of this data to derive statistical inferences from this research. It is important to relate the results to the objective of research and establish the statistical relevance of results. It is important to consider aspects of research which were not considered for the data collection process and report the difference between what was planned vs. what was executed. It is then required to select precise statistical analysis methods such as SWOT, Conjoint, Cross-tabulation, etc. to analyze the quantitative data.
Data Analysis Techniques - Data analysis in qualitative research is defined as the process of systematically searching and arranging the interview transcripts, observation notes, or other non-textual materials that the researcher accumulates to increase the understanding of the phenomenon. The process of analysing qualitative data predominantly involves coding or categorising the data. Basically, it involves making sense of huge amounts of data by reducing the volume of raw information, followed by identifying significant patterns, and finally drawing meaning from data and subsequently building a logical chain of evidence.
What is Data Management? - Data management refers to the professional practice of constructing and maintaining a framework for ingesting, storing, mining, and archiving the data integral to a modern business. Data management is the spine that connects all segments of the information lifecycle.
How Data Management Works? - Data management is the practice of managing data as a valuable resource to unlock its potential for an organization. Managing data effectively requires having a data strategy and reliable methods to access, integrate, cleanse, govern, store, and prepare data for analytics.
How Data Management Functions in An Organization? -Data management is the function of planning, controlling, and delivering data effectively in an organization. Data management includes the following functions: practicing the disciplines in the development, execution, and supervision of plans, programs, policies, and practices that protect, control, deliver and enhance the quality and value of data and information in the organization.
Benefits Of Data Management to Companies
- Minimized Errors - Effective data management helps in minimizing potential errors and reducing the damages caused by bad data.
- Efficiency Improvements - If your data is properly managed, updated, and enhanced, its accessibility and your organizational efficiency will increase exponentially.
- Protection From Data Related Problems and Risks - Security of data is very important and proper data management helps in ensuring that vital data is never lost and is protected inside the organization.
- Data Quality Improvement - Better data management helps in improving data quality and access. Therefore, better search results are obtained in a company with better and faster access to the organization’s data, which can aid in decision making.
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