Data Analysis: The 3 Stages of Data Analytics (Part 2 of 3)

Data Analysis: How Is Your Business Doing Now?

Data analytics is a broad term used to describe finding data insights. Data analytics tools can be as simple as spreadsheets to more advanced database management tools and software. The primary purpose behind data analytics is to find trends, investigate outliers, and measure performance.

Mining data, cleaning data, transforming data, and building systems to manage data are all part of data analytics. All work toward the goal of communicating actionable insights from disparate datasets. Often the goal is to answer specific questions, from “How many projects are we working on at the moment?”  to, “How many submittals were returned ‘revise and re-submit’ last month?”

Applied to capital projects, data analytics can be used to:

• Discover and identify trends 

• Assess risks and bottlenecks

• Deliver project visibility and insights

• Single out sources of project success and failures

Join us for Part 3 of 3: Business Intelligence