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Almost everything about data analytics (I): definition, types and models

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Data is increasingly important for companies to learn about their operation, optimize it and make decisions for the future. But in order to extract the information they need, they have to treat the data they collect in an appropriate way, for which they need to apply very specific techniques. As the data analyticswhich is the ability to apply quantitative analysis and different treatment Technologyssuch as analysis using algorithms, at the information. This is done to find trends in it, as well as solutions to specific problems.

As the amount of data that companies collect and have to process grows, the amount of information they can obtain to speed decision making and anticipate problems. Also to improve processes, income and benefits.

In fact, companies that most skillfully use digital analytics tools and processes achieve results that are 2.5 times better than those that do not, according to IDC. This consultancy also points out that companies are investing heavily in Big Data and analytics functions, which according to VentureBeat has led to data analytics in 2021 already being a market that exceeded 215,000 million dollars.

data analytics tends to be predictive, and opens the door to many improvements and innovations in other technological areas. Among them the iterative refinement of machine learning algorithms that drive a good part of Artificial Intelligence. In addition, it significantly improves Business Intelligence processes and decision making.

For this reason, companies are creating teams in charge of working with data and hiring data managers. They are also putting policies in place for working with data, and investing in bulk data collection solutions from internal and external sources that allow them to work with unstructured, structured, and mixed data. Their goal with this is to derive value from large and growing amounts of data. But just by collecting data they can’t do it.

Generally, the data is collected raw, and without processing it, no valuable information is obtained. It is at this point that data analytics enters the scene, which is responsible for studying the data collected, regardless of its source, to extract useful information from it.

The professionals in charge of obtaining this information are the data analysts, or data analytics engineers. To do this, in addition to examining them, they refine and transform them. They also apply models. Thanks to all this they can find patterns and useful information for the company. Higher-level analysts can also generate dashboards and reports, which can help less-experienced analysts on your team do their jobs.

Types of data analytics

Depending on its level of implementation, data analytics can be classified into four types: descriptive, diagnostic, predictive and prescriptive. The first allow companies and organizations to understand their past. It is responsible for collecting and visualizing historical data to answer questions related to past events and events. Therefore, descriptive analytics is suitable for measuring the result of decisions that have already been made in the company.

The second, diagnostic analytics, offers a basis for discovering what has happened, but also for knowing why it has happened. It is responsible for exploring historical data to identify patterns and dependencies between variables that could explain a certain result.

Predictive analytics uses knowledge of the path opened by descriptive analytics to establish what is likely to happen in the future. So, for example, you can use historical trends to predict how the business will perform after raising the price of a product by 20%. It combines predictive modeling, statistics, data mining, and advanced analytics.

Finally, prescriptive analytics, as its name suggests, uses machine learning to give companies useful recommendations to achieve the results they want to achieve. In addition, it can help with information for a better management of the company, increase sales and obtain more income.

Main data analytics models

Analysts can use several types of models to analyze data to identify patterns and trends. Each one works differently, and offers different results. Therefore, if a company wants to use a model to obtain certain information, it will have to carefully analyze which model is the best one to use. The main ones are the following:

1 – Regression analysis: establishes the relationship between a given set of variables, both dependent and independent. These relationships are used to identify important trends and patterns among the variables. For example, it can be used to correlate social spending with sales revenue to understand the impact of social investments on sales. The information that it allows to obtain can help the management of a company to make decisions related to investments of a social nature.

2 – Monte Carlo simulation: Also known as multiple probability simulation. It is responsible for estimating the possible outcomes of an uncertain event. It offers companies several possible outcomes, along with the probability of each occurring. Many companies use it for risk analysis.

3 – Factor analysis: This technique involves taking a large amount of data and reducing it to a smaller size, which will make it easier to manage and understand. Companies often reduce variables by extracting their common elements and reducing them to a smaller number of factors. It helps uncover patterns that were hidden, and shows how they overlap.

4 – Cohort analysis: With this type of analysis, instead of examining the data as a whole, analysts divide it into related groups to analyze it over a period of time. These groups usually have some common characteristics or experiences during a specific period of time.

5 – Cluster analysis: This type of analysis is responsible for grouping data into groups, so that the elements of one group are similar to each other, but are completely different from those of another group when making a comparison between them. It provides insights from the distribution of data, and can easily help uncover the patterns behind specific anomalies. For example, it can help to establish why there are more complaints in some establishments of a chain than others.

6 – Time series analysis: This type of model studies the characteristics of a variable with respect to time, and identifies trends that can be useful to help predict its behavior in the future. For example, it is used to analyze sales figures and find out, for example, what results can be achieved in the next quarter.

7 – Sentiment analysis: This analysis deals with identifying the emotional tone that exists in a data set. It is used so that companies and organizations can identify what their customers think of a product, service or idea.

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EIZO ColorEdge CS2400S, new 24.1-inch professional monitor

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The EIZO ColorEdge CS2400S is a monitor aimed at professionals that mounts a 24.1-inch panel and has, as you may have imagined, a resolution of 1,920 x 1,200 pixels. Its maximum brightness is 410 cd/m2, it has a contrast of 1,350:1, it reproduces 1,070 million colors and it is capable of covering the 99% of the Adobe RGB color space.

This EIZO model brings a series of clear improvements over the previous generation. Among the most important changes we can highlight the inclusion of a USB Type-C connector, that offers up to 70 watts of charge, and that we can use to charge a laptop while we use it with said monitor (simultaneous data and power).

Another important addition to the EIZO ColorEdge CS2400S is that it comes with an adjustment report that measures the state of the screen at the time of shipment, a feature that previously it was only available on CG series professional monitors.

Maintaining its commitment to the environment, EIZO has eliminated any type of plastic from the packaging and materials that accompany the wiring. This monitor is also more efficient, as it It has a consumption of only 26 watts.

The rest of its specifications are completed with a response time of 19ms, it has DisplayPort and HDMI outputs, it has a USB Type-C connector, as we have already said, it has two USB 3.0 and it has two other USB 2.0 ports. we can use it both horizontally and verticallysomething that the most creative professionals will undoubtedly like.

This monitor is mainly aimed at content creators, designers, video and photo editors, illustrators and cartoonists. It is height, swivel and tilt adjustable, which translates into good ergonomics and great versatility when it comes to integrating into different work spaces.

The EIZO ColorEdge CS2400S comes with a 5-year warranty covering each and every component, and is also subject to the zero bad pixel policy, which is covered for six months from the launch date. Taking into account the investment that we have to make to buy this monitor, it is totally normal, since its price in Spain will be around 800 euro.

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Microsoft Extends ESU Support for Windows Server 2008 and R2

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When an operating system ends its life cycle, Microsoft usually considers the possibility of offering extended support, which usually ends up being paid, or may be subject to some type of special condition. The latter is what has happened with Windows Server 2008 and 2008 R2, two operating systems that have ended their life cycle and are no longer supported in 2020.

The thing is that Windows Server 2008 and 2008 R2 still have a significant user baseand for this reason Microsoft has decided an additional year of support of the ESU type, acronym for “extended security updates”. This is good news for companies that still use the operating system, but it has one important condition, and that is that it will only be available to those who are Microsoft Azure customers.

This extended period of security updates will be active until January 9, 2024. If you are wondering if this will be a free program, I can tell you that it is not, and that Microsoft will bill it as it normally does with extended support programs.

In case you are wondering why so many professionals are still using Windows Server 2008 and 2008 R2 the answer is very simple, because in more than one case upgrading to a new operating system requires significant expenses that can derive from a hardware renewal, from a prolonged period of inactivity, from updating and developing new applications if necessary or from a little of everything that we have just said.

Microsoft has confirmed all the versions of Windows Server 2008 that will be able to benefit from this year of extended support, and we have listed them as is:

  • Windows Server 2008 R2 Service Pack 1 (SP1) and 2008 Service Pack 2 (SP2).
  • Windows Embedded POSReady 7.
  • Windows Embedded Standard 7.
  • All Azure virtual machines (VMs) running Windows Server 2008 and 2008 R2 operating systems on Azure, Azure Stack, Azure VMWare Solutions, or Azure Nutanix Solution.

It does not seem that they are going to give more extensions once this is finished, so if your company is using any of those operating systems you should be clear that time is running out, and that in a matter of a year you will be tied to an operating system without support that could become a time bomb in terms of security.

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Apple will abolish the position of Head of Product Design

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The departure of Jonathan Ive from Apple was one of the most shocking news of 2019, not in vain are we talking about what was Head of Product Design in that company, responsible for some of its most successful products, and a professional who was part of the bitten apple company for more than 30 years.

It is true that at first there was no complete break between Ive and Applesince both continued to work together through an independent agency founded by the former executive, but in the end both parties decided to put an end to their adventure, and a final separation was confirmed last July.

The position that Ive left was filled by Evans Hankey, but we know that this executive also plans to leave the company in the coming months. What will happen then with the position of Head of Product Design? The normal thing would be to look for a new professional that lives up to that position, but according to a new report presented by Bloomberg it won’t be like that.

The apple company will abolish the position of Head of Product Design, and the product design team will report to and report directly to Apple’s COO, Jeff Williams. To avoid internal problems, Apple will give more important roles to the designers of key products for the apple company, but it seems that this has not been liked by everyone, and that some employees are upset with Apple’s decision.

The truth is that, if we analyze the situation that existed previously, it is not as important a change as it might seem at first glance. Evans Hankey acts as the liaison for the design team, but in the end it depended on Jeff Williams and had to answer to himso with this move Apple would be eliminating an intermediate position that in the end would not be “essential”, and would simplify the hierarchical structure of the product design team.

It is also important to note that this change reinforces the position of Jeff Williams, a high-profile executive at Apple who many see as Tim Cook’s possible successor. We’ll see how the situation evolves, and if Apple is really able to get on without a Head of Product Design.

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