SupplyChain Magazine February 2021 | Page 67

BIG DATA VS DATA ANALYTICS VS DATA SCIENCE
BIG DATA
DATA SCIENCE
DATA ANALYTICS
BIG DATA VS DATA ANALYTICS VS DATA SCIENCE
With new tech and big data comes a bevy of big buzzwords . Let ’ s decipher .
BIG DATA
From Gartner , big data is high-volume , high-velocity and / or high-variety information assets that demand cost-effective , innovative forms of information processing that enable enhanced insight , decision making , and process automation .
DATA SCIENCE
From IBM , data science is a multidisciplinary approach to extracting actionable insights from the large and ever-increasing volumes of data collected and created by today ’ s organisations . Data science encompasses preparing data for analysis and processing , performing advanced data analysis , and presenting the results to reveal patterns and enable stakeholders to draw informed conclusions .
DATA ANALYTICS
From Investopedia , Data analytics is the science of analysing raw data in order to make conclusions about that information . Many of the techniques and processes of data analytics have been automated into mechanical processes and algorithms that work over raw data for human consumption .
Data analytics techniques can reveal trends and metrics that would otherwise be lost in the mass of information . This information can then be used to optimise processes to increase the overall efficiency of a business or system .
67 supplychaindigital . com