E-DAB 01: What is Data Analysis & Business Intelligence?

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[MUSIC PLAYING] Welcome to the first video in this new class, Data Analysis and Business Intelligence Made Easy with Excel Power Tools. Now this class really should be called Excel Data Analysis Basics or E-DAB, because if you've never done data analysis before and you want to learn the basics of data analysis, you came to the right place. Now why Excel? Because Excel is the most used data analysis tool in the world. We have straight Excel features. We can build pivot tables, use Power Query, the new Power Pivot and even Power BI Desktop. Yes, indeed we'll learn all these tools, so you can take all that data you have and convert it into insight. Now this is video number 1, an introduction so we have to go over who the instructor is, what is the scope of the class, what version of Excel you should be using. We're going to define data analysis and business intelligence, talk about the goals of the class. We'll talk about the videos that will be presented in this class, the amazing files you can download and use to follow along, and what you will gain after taking this class. My name is Mike Girvin. I'm a Highline College instructor, a Microsoft Excel MVP since 2013. And I created the excelisfun YouTube channel, been posting videos since 2008 with over 3,000 videos and over 100 playlists and classes. Now the scope of this class, this is an introduction to data analysis. It is for people with no experience with data analysis. Although, if you like watching Fun with Excel and you know a little bit about data analysis, doesn't hurt to watch this. So with no experience, you'll get to learn how to turn data into useful information and insight. And this is a prerequisite for the advanced data analysis class here at the excelisfun channel, called MSPTDA. And we will definitely have a link to that playlist and that class at the end of this video and also at the end of the class. Now what version of Excel are we going to use for this class? Excel Office 365. Now really, you may have all sorts of other versions like Excel 2016, Excel 2019. Those will work for almost everything in this class. But Office 365 has the advantage. It's the only version that gets updates with new features every month. And in fact, moving forward in Excel history, it's the only version to have. Now you may not have it right now and some of the other versions will work. But get it as soon as you can. Now we'll also be using Power BI Desktop. That's a free download from Microsoft. And we'll download it during the last two videos of this class. Now we need to define data analysis and business intelligence. Now data analysis the definition, to convert data into useful information for decision makers. Now business intelligence is exactly the same definition, except for in a business context. A simple example-- and simple examples are always awesome when you're learning something for the first time. Here's raw data. We have two columns-- sales rep and sales. The first row or record show sales rep Ty had sales of 7,500. The third record shows Abdi sales rep sales of 11,500. Now that's the raw data. But if our goal is to determine whose sales were biggest, well the raw data alone is not going to give us the answer. We have to convert that raw data into useful information. Notice, we first create a unique list of sales rep names. And then we do our adding. We're adding the sales for each sales rep. Boom, we have our useful information. Now we can answer our question. The answer, Gigi. Now business intelligence, we'll define this as convert data into useful, actionable, refreshable information for decision makers in a business situation. Right, we have a business situation. But now instead of just useful, it says actionable. All that means is from the useful information, we can act to make a decision. Now refreshable, that's the amazing part. That's the part that Excel and the power tools can do so well. That just means when we get new data, we want our useful information to update. Now why is it called business intelligence? Well because the business is intelligent because it's making decisions based on data. Now both data analysis and business intelligence will help to see trends and patterns, ask questions, and gain insight. Short and sweet definition for both, here it is. We're simply taking data and converting it into information. Now the goal of data analysis and business intelligence, well, we need to create useful updateable, actionable information for decision makers in the form of reports, visualizations, and dashboards. Here's an example of a report we need where it shows the total revenue by company and product. But look at this. We're given data in the form of various text files. And we have some data inside an Excel spreadsheet. Now the cool thing is inside of Excel, we'll get to use Power Query to take all this data, convert it to the right form, and then we'll use a pivot table to create our report. As a second example, over in Power BI Desktop, we'll have to create this visualization from various Excel files. Well, we'll use Power Query to go and get the data, transform it, and load it into Power BI Desktop. And then we'll use the various visualizations to plot sales revenue on a map and sales by product in a bar chart and then sales by city and sales rep in a second bar chart. Now, next we want to talk about some of the goals for this class, some of the achievements you should expect. Now we're going to get an introduction to these Excel power categories, Excel spreadsheet formulas and features, the standard pivot table, Power Query in both Excel and Power BI Desktop, data model pivot tables using Excel Power Pivot, and data model visualizations using Power BI Desktop. More specifically, goals, we want to get an introduction to the specific data analysis power tools in Office 365. We get to learn about the Sort feature, Filter, Excel table features for dynamic data, spreadsheet functions like SUMIFS, COUNTIFS, AVERAGEIFS, the amazing Office 365 dynamic arrays, standard pivot table and slicers, charts and visualizations, Power Query, the VLOOKUP function, the relationship feature, Power Pivot data model, DAX functions which are the functions inside Power Pivot and Power BI Desktop data model, SUMX, AVERAGEX, RELATED, and COUNTROWS, and of course Power BI Desktop. We'll also have an introduction to data analysis terms and processes, such as data, proper data set, delimiter, relationship, ETL, data model, columnar database, dashboard, and much more. We also, as goals of the class, need to learn how to perform these data analysis steps. Import the data, then clean and transform it. Build the data model. Build reports, visualizations, and dashboards that deliver that useful information. Then when the new data arrives, we're going to have to make sure we've built the solution so we can refresh that information. Then we have to assess the usefulness of that information and repeat steps as necessary. Now actually, there are a few steps before importing the data. For example you might have to determine what questions need to be asked, what sort of reports you need. You might have to search throughout the particular entity, find out what people need, find out where the data is. But we're going to start at importing data. As a preview of the videos we will have-- well, number 1, you're watching that one right now. Number 2, we'll define data, proper data sets, Excel table, sorting, filtering, and the ever important logical tests-- ubiquitous in data analysis. Number 3, we'll make summary reports with Excel spreadsheet formulas. Then in number 4, we'll make summary reports with standard pivot tables and slicers. Then we'll talk about visualizations, tables, charts, conditional formatting, and dashboards. Then 6, we get our first introduction to Power Query, where we get to learn how to clean, transform, and import the data. We'll talk about VLOOKUP which sometimes is good in the Excel spreadsheet, the relationship feature to create Power Pivot data models. We'll talk about Power Query and Power Pivot together for big data, and then Power BI desktop and Excel in Power BI Desktop together. Now the downloadable files and practice problems. That means every video that you watch, you can download all the files, the Excel files, Power BI, and the source data files, so you could follow along with exactly what you see in the video. There'll be practice problems after each video and some PDF notes summarizing each class video. Now what will you gain after taking this class? You will have experience with all the power tools in Excel used for data analysis. You'll be able to take your own data, convert it to refreshable reports, visualizations, and dashboards that you can use for your own decision making. And finally, you'll have introductory level skills in data analysis, So you can move on to more advanced data analysis and business intelligence classes for free here at YouTube. And in fact, you can go on after this 11 video class and study Excel Basics. Now Excel Basics covers the same data analysis topics that we cover in our class. But if you like formulas, that's an awesome video. If you like advance formulas, the Highline College Advanced Excel class is for you. And most of you will probably want to move on to the Highline College BI348, Microsoft Power Tools for Data Analysis. That's the MSPTDA class. And if you like what you see when we learn about the new Office 365 dynamic arrays, there's a whole playlist of videos just on that topic. All right, if you like that video, be sure to click that thumbs up, leave a comment, and subscribe, cause there's 10 more videos coming in there's E-DAB class. All right, I'll see you next video. [MUSIC PLAYING]
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Channel: ExcelIsFun
Views: 69,658
Rating: undefined out of 5
Keywords: Excelisfun, Excel Data Analysis Basics, E-DAB, Highline College, Data Analysis, Business Intelligence, BI 348, Mike Girvin, Microsoft Power Tools for Data Analysis, Learn Excel Data Analysis, Learn Excel Business Intelligence, YouTube Learning, YouTube Class, YouTube Education, Excel MVP Mike Girvin, Define Business Intelligence, Define Data Analysis, Business Intelligence Basics, Power BI, Excel Power BI, Microsoft Power BI, Microsoft Insights, Learn Microsoft Power BI
Id: aTe7WXEch0M
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Length: 12min 42sec (762 seconds)
Published: Tue Feb 19 2019
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