Descriptive Analytics I CHAPTER Nature of data Statistical Modeling, and Visualization Learning Objectives for Chapter 2 Understand the nature of data as it relates to business intelligence(Bi)and analytics Learn the methods used to make real-world data analytics ready Describe statistical modeling and its relationship to business analytics Learn about descriptive and inferential statistics Define business reporting, and understand its historical evolution Understand the importance of data/information visualization Learn different types of visualization techniques Appreciate the value that visual analytics brings to business analytics Know the capabilities and limitations of dashboards CHAPTER OVERVIEW In the age of Big data and business analytics in which we are living, the importance of data is undeniable. The newly coined phrases like"data is the oil, ""data is the Copyright C2018 Pearson Education, Inc.1 Copyright © 2018Pearson Education, Inc. Descriptive Analytics I: Nature of Data, Statistical Modeling, and Visualization Learning Objectives for Chapter 2 ▪ Understand the nature of data as it relates to business intelligence (BI) and analytics ▪ Learn the methods used to make real-world data analytics ready ▪ Describe statistical modeling and its relationship to business analytics ▪ Learn about descriptive and inferential statistics ▪ Define business reporting, and understand its historical evolution ▪ Understand the importance of data/information visualization ▪ Learn different types of visualization techniques ▪ Appreciate the value that visual analytics brings to business analytics ▪ Know the capabilities and limitations of dashboards CHAPTER OVERVIEW In the age of Big Data and business analytics in which we are living, the importance of data is undeniable. The newly coined phrases like “data is the oil,” “data is the CHAPTER 2