An Overview of the Data Science Process and Data Analytics Within Organisations

Abstract

This paper attempts to conceptualise the concept of data analytics for both MSMEs and large corporations. Data analytics enable organisations to learn how customers think and behave in real time, and make changes to their business as a consequence, using real-time insights about the customer base. The various misconceptions on data analytics, especially in organisational context, warrants the writing of this paper. Present day organisations are already under immense pressure due to increasingly competitive and hostile environments, and by utilizing data analytics may give them that extra edge over competitors in order to survive and grow. The objective of this chapter is to provide an overview of data analytics, and propose a conceptual framework to showcase the data science process as well as some of the most well-known and useful features of data analytics. This chapter also attempts to synthesise the various jargons for organisations to easily comprehend step-by-step, from data collection to producing useful data in order for them to enable informed decision-makings.