Data and Analytics

Taxonomy | Technology and Innovation

Data Collection

Data collection involves gathering relevant data from various sources, including customer interactions, sales transactions, and operational processes. This data provides valuable insights into business performance and customer behavior. Effective data collection is the foundation for making informed, data-driven decisions.

Data Analysis

Data analysis involves processing and interpreting collected data to extract meaningful insights and trends. This includes using statistical methods, data visualization tools, and analytical software. Data analysis helps in identifying opportunities, optimizing operations, and making strategic decisions based on evidence.

Business Intelligence

Business intelligence (BI) involves using data and analytics to support decision-making processes. This includes developing dashboards, reports, and analytical tools that provide real-time insights into business performance. BI helps in identifying trends, monitoring key performance indicators (KPIs), and making informed strategic decisions.