MM - Phase 1 - Discovery

Here's an improved and structured version of the notes for the Discovery phase of the Data Analytics Lifecycle, incorporating elements from the reference materials mentioned previously. Below that, you'll find keywords and short sentences to create mind maps for efficient recall.

Discovery Phase of Data Analytics Lifecycle: Detailed Notes

Overview

The Discovery phase is the initial and critical step in the data analytics lifecycle, where the foundation for the analytics project is laid. It involves understanding the purpose and scope of the data analysis to ensure alignment with business objectives and outcomes.

Key Processes

1. Learning the Business Domain:

   • Immerse in Industry Context: Understand industry-specific processes, challenges, and goals.
   • Key Vocabulary: Familiarize with industry jargon and operational benchmarks.

2. Evaluating Resources:

   • Resource Assessment: Check availability of technology, data, personnel, and time.
   • Tool Selection: Determine the best tools and technology for the data analysis.

3. Framing the Problem:

   • Define Problem Statement: Clearly state the question or problem the analysis aims to solve.
   • Scope Clarification: Set boundaries and specific objectives of the project.

4. Identifying Key Stakeholders:

   • Stakeholder Identification: List key internal and external stakeholders.
   • Engagement Plan: Develop a strategy for ongoing stakeholder engagement.

5. Interviewing the Analytics Sponsor:

   • Sponsor Dialogue: Understand the expectations, priorities, and requirements from the project sponsor.
   • Alignment Check: Ensure project goals align with sponsor’s vision.

6. Developing Initial Hypotheses:

   • Hypothesis Formulation: Craft initial theories based on available data and problem understanding.
   • Testing Framework: Plan for initial testing of these hypotheses.

7. Identifying Potential Data Sources:

   • Data Source Mapping: Identify and list all possible internal and external data sources.
   • Data Relevance: Evaluate the relevance and reliability of these data sources.

Simplified Analogy

Think of the Discovery phase as planning a detailed expedition. Initially, you study the terrain (business domain) and prepare your resources and tools. You define your exploration goals (problem statement) and gather your team (stakeholders). Discussions with the team leader (sponsor) ensure everyone's on the same page. Preliminary routes (hypotheses) are planned, and potential areas of interest (data sources) are identified to guide your journey.

Keywords and Short Sentences for Mind Maps

1. Learning the Business Domain:

   • Industry insights
   • Business processes and goals

2. Evaluating Resources:

   • Technology and data check
   • Tools for analysis

3. Framing the Problem:

   • Problem statement
   • Project objectives

4. Identifying Key Stakeholders:

   • Stakeholder list
   • Engagement strategies

5. Interviewing the Analytics Sponsor:

   • Sponsor expectations
   • Project alignment

6. Developing Initial Hypotheses:

   • Initial theories
   • Hypothesis testing

7. Identifying Potential Data Sources:

   • Data sources list
   • Data evaluation

These keywords and phrases should help you create an effective mind map that captures the essence of the Discovery phase and aids in future recall. Each key term or phrase can be expanded with additional sub-nodes in your mind map to include examples, tools, or specific actions related to each aspect.