data analytics

The science is generally divided into exploratory data analysis (EDA), where new features in the data are discovered, and confirmatory data analysis (CDA), where existing hypotheses are proven true or false. Qualitative data analysis (QDA) is used in the social sciences to draw conclusions from non-numerical data like words, photographs or video. In information technology, the term has a special meaning in the context of IT audits, when the controls for an organization's information systems, operations and processes are examined. Data analysis is used to determine whether the systems in place effectively protect data, operate efficiently and succeed in accomplishing an organization's overall goals.

The term "analytics" has been used by many business intelligence (BI) software vendors as a buzzword to describe quite different functions. Data analytics is used to describe everything from online analytical processing (OLAP) to CRM analytics in call centers. Banks and credit cards companies, for instance, analyze withdrawal and spending patterns to prevent fraud or identity theft. Ecommerce companies examine Web site traffic or navigation patterns to determine which customers are more or less likely to buy a product or service based upon prior purchases or viewing trends. Modern data analytics often use information dashboards supported by real-time data streams. So-called real-time analytics involves dynamic analysis and reporting, based on data entered into a system less than one minute before the actual time of use.

Getting started with data analytics

To explore how data analytics are used in the enterprise, here are some additional resources:

Text mining tools and prediction markets extract insight from unstructured data: Organizations too often ignore unstructured data when making high-level, strategic decisions. Text-mining and prediction-market tools can help – find out how.

Law enforcement data mining and predictive analysis: Techniques and tools: Learn about the different data mining techniques used in law enforcement. The article includes discussion of discovery and prediction, confirmation and discovery, data mining tools and examination of the overall trends in the market.

Evaluating analytics tools: Don't judge a tool by its label: Eastport Analytics considers hundreds of tools when designing systems for the IRS, DHS and others. Companies evaluating analytics tools shouldn't limit themselves either.

Learn more about Data mining and predictive analytics

Do you have something to add to this definition? Let us know. Send your comments to techterms@whatis.com

More resources from around the web: - Donna Burbank explores what happens to traditional data analysis in the context of the Web in "Data Analysis 2.0" on regdeveloper.co.uk. - Wikipedia's entry for information technology audits explains more about data analytics in that context.

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