Big Data Exam 1 Study Notes
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Questions and Answers

Which type of business analytics focuses on predicting future outcomes based on historical data?

  • Descriptive Analytics
  • Predictive Analytics (correct)
  • Prescriptive Analytics
  • Operational Analytics

    • What is the primary difference between OLTP (Online Transaction Processing) and OLAP (Online Analytical Processing) systems?

  • OLTP systems handle real-time transactions, while OLAP systems focus on historical data analysis. (correct)
  • OLTP systems are used for data analysis, while OLAP systems are used for transaction processing.
  • OLTP systems are used for data warehousing, while OLAP systems are used for data mining.
  • OLTP systems use structured data, while OLAP systems use unstructured data.

    • Which of the following accurately describes the concept of "velocity" in the context of Big Data?

  • The amount of data generated and stored.
  • The speed at which data is generated and processed. (correct)
  • The accuracy and reliability of the data collected.
  • The different types and formats of data available.

    • What is the primary difference between outcome KPIs and driver KPIs?

    <p>Outcome KPIs measure results, while driver KPIs measure activities that influence those results. (D)</p> Signup and view all the answers

    Which of these is NOT a characteristic of unstructured data?

    <p>Database tables (B)</p> Signup and view all the answers

    Flashcards

    OLTP

    Online Transaction Processing; used for managing transaction data.

    OLAP

    Online Analytical Processing; used for analyzing historical data.

    Descriptive Analytics

    Analyzes past data to understand what has happened.

    Predictive Analytics

    Uses historical data to predict future trends and outcomes.

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    Volume, Variety, Velocity

    The three Vs of Big Data; signifies large amounts of varied and quickly generated data.

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    Study Notes

    Big Data Exam 1 Study Notes

    • First team to use basketball analytics was the focus of a video.
    • Key metric points were discussed in the review of analytics.
    • Fields of study related to business analytics were outlined.
    • OLTP (Online Transaction Processing) systems record data for day-to-day operations.
    • OLAP (Online Analytical Processing) systems analyze historical data for business insights.
    • OLTP data is often transferred to OLAP systems for analysis.
    • Three types of business analytics exist:
    • Descriptive analytics - summarize past events.
    • Predictive analytics - forecast future trends based on data patterns.
    • Prescriptive analytics - use data science to recommend optimal actions.
    • Big data characteristics include:
    • Volume - large amounts of data.
    • Variety - different data types (e.g., social media, business).
    • Velocity - high rate of data generation.
    • The history of business analytics was discussed.
    • Different types of charts and their uses were explained.
    • Outcome KPIs (Key Performance Indicators) vs. driver KPIs were differentiated.
    • Understanding mean, median, mode and statistical concepts.
    • Standard deviation and variance as measures of data spread.
    • Skewness and its significance in data analysis.
    • Taxonomy and classification were mentioned.
    • Structured data (organized) vs. unstructured data (unorganized) types were reviewed.

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    Description

    Prepare for your Big Data Exam 1 with these comprehensive study notes. This material covers key concepts such as business analytics, OLTP and OLAP systems, and various types of analytics including descriptive, predictive, and prescriptive analytics. Understand the core characteristics of big data that influence the field of business analytics.

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