At a recent barbeque, Terry of Terry's Flooring explained to Jack that he is able to make decisions on which products are the most efficient to use based on a weekly usage report that measures differences in inventory levels relative to the volume of flooring work completed that week.
Terry tells Jack "I don't even need to check anything, my system generates the information automatically and I am able to see how much material I am using. This is data analytics at its simplest".
Jack suggests to Terry that he is describing data analysis rather than data analytics. Terry disagrees and tells Jack "they are different terms that describe exactly the same thing".
 

REQUIRED:
Is Terry correct?
What steps are necessary for data analysis to be effective?

Answer rating: 100% (QA)

Terry is not entirely correct While data analysis and data analytics are related concepts they are not the same thing and have distinct characteristics Data Analysis typically refers to the process of ... View the full answer