Question 1

Why is Data Analysis Important?

Accepted Answer

Your company's business processes, business rules, and use cases have associated data.  If you don’t have a good understanding of that data or what data is needed bring value to that process, then the process can fail or you may make bad decisions about that process.   You likely won’t need special tools to capture and analyze the data. You can use something as simple as pen and paper or a white board.  Often, Excel or Visio are the most complex tools you may need.   If your organisation has big data systems and you don’t have the technical knowledge to use them, you can always pair with data scientists and other technical experts in your organization to draw meaning from the data and ask the right questions.

Question 2

What is Data Migration?

Accepted Answer

Data migration is the process of moving data from one system to another. While this might seem pretty straightforward, it involves a change in storage and database or application.   In the context of the extract/transform/load (ETL) process, any data migration will involve at least the transform and load steps. This means that extracted data needs to go through a series of functions in preparation, after which it can be loaded in to a target location.   Data migration is important because it is a necessary component to upgrading or consolidating server and storage hardware, or adding data-intensive applications like databases, data warehouses, and data lakes, and large-scale virtualization projects.

Question 3

Why is Business Intelligence (BI) Important?

Accepted Answer

Business Intelligence (BI) is a concept that usually involves the delivery and integration of relevant and useful business information in an organization. Companies use BI to detect significant events and identify/monitor business trends in order to adapt quickly to their changing environment and a scenario.    In today’s customer-centric, digital-first world, many business owners and managers are bombarded with ‘information overload’ and are urgently seeking ways to derive greater control, understanding, and intelligence from their organisation’s data.

Question 4

What is a Data Warehouse?

Accepted Answer

A data warehouse is a system that pulls together data from many different sources within an organization for reporting and analysis. The reports created from complex queries within a data warehouse are used to make business decisions.   A data warehouse is a type of data management system that is designed to enable and support business intelligence (BI) activities, especially analytics. Data warehouses are solely intended to perform queries and analysis and often contain large amounts of historical data. The data within a data warehouse is usually derived from a wide range of sources such as application log files and transaction applications.   A data warehouse centralizes and consolidates large amounts of data from multiple sources. Its analytical capabilities allow organizations to derive valuable business insights from their data to improve decision-making. Over time, it builds a historical record that can be invaluable to data scientists and business analysts. Because of these capabilities, a data warehouse can be considered an organization’s “single source of truth” (Golden Source). A typical data warehouse often includes the following elements: A relational database to store and manage data An extraction, loading, and transformation (ELT) solution for preparing the data for analysis Statistical analysis, reporting, and data mining capabilities Client analysis tools for visualizing and presenting data to business users Other, more sophisticated analytical applications that generate actionable information by applying machine learning and artificial intelligence (AI) algorithms

Question 5

Why Choose the Cloud?

Accepted Answer

Cloud Computing can be cost effective.   Cloud computing has proven to be up to 40 times more cost-effective for small or medium-sized businesses than dealing with traditional storage systems.   Cloud Computing Offers a Lot of Flexibility   With cloud computing, all of your data can be stored in secure, offsite data storage areas that are immediately accessible through a reliable internet connection and a device such as a desktop computer or smartphone.   Whether you or your employees work from home, another city, or another country, being able to access data from the cloud makes it possible to maintain productivity. This works equally well with employees who need to work collaboratively but are physically located far apart.   Cloud Computing aids with Business Data Recovery and Security Services   Recovery times can be over three times faster with cloud computing services, your business continuity is protected and you need not suffer a loss of business due to accidents, environmental dangers, or cyberattacks.   In addition, cloud databases are highly secured and are being constantly monitored for suspicious activity, viruses, malware, or other online perils. Encryption options add another layer to your data’s security so you can rest easy knowing that your most important business information is safe.