CLASSIFICATION OF BASIC METHODS FOR DATA ANALYSIS IN INDUSTRY

ABSTRACT. In today's technological world, data is being generated in vast quantities by machines, people, and 'things' – everything we do in the digital world is turning into big data sets. Their sheer volume, variety and velocity categorises them as Big Data. Coming from various sources, they often come in different sizes and formats, necessitating the use of new methods and technologies to use and turn them into useful information. Effectively used data leads to a better understanding of the past performance of business and helps to make informed decisions about its future activities. Different industries are implementing new technologies and advanced data analytics models based on IoT and ML to improve and optimise their processes and predict future consequences or risks. Below are presented some interesting uses of data analytics in industry. This paper examines a data analysis model that sets out the steps that are followed in the process of preparing, cleaning, and analysing data sets. In order to determine what analysis can be performed on the data, it is extremely important for data analysts to identify the characteristics of the given data and the types of the underlying variables. For this reason, a classification of the main types of variables is presented. Also, the types of basic data analytics are classified, with an emphasis on big data analytics approaches.