What steps are necessary for data analysis to be effective

Reference no: EM133505515

Question: At a recent barbeque, Terry of Terry's Flooring explained to Jack that heis able to make decisions on which products are the most efficient touse based on a weekly usage report that measures differences ininventory levels relative to the volume of flooring work completed thatweek.Terry tells Jack "I don't even need to check anything, my systemgenerates the information automatically and I am able to see howmuch material I am using. This is data analytics at its simplest".Jack suggests to Terry that he is describing data analysis rather thandata analytics. Terry disagrees and tells Jack "they are different termsthat describe exactly the same thing".

REQUIRED:

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

Reference no: EM133505515

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