Business Analytics and Intelligence

Study Notes

Business Analytics and Intelligence

Business analytics refers to the statistical methods and computing technologies for processing, mining, and visualizing data to uncover patterns, relationships, and insights that enable better business decision-making.

Data Management

Data management is the practice of ingesting, processing, securing, and storing an organization's data.
It is used for strategic decision-making to improve business outcomes.

Data Mining

Data mining, also known as knowledge discovery in data (KDD), is the process of uncovering patterns and other valuable information from large data sets.
It is a significant component of big data analytics.

Data Warehouse

A data warehouse, or enterprise data warehouse (EDW), is a system that aggregates data from different sources into a single, central, consistent data store.
It supports data analysis, data mining, artificial intelligence (AI), and machine learning (ML).

Data Visualization

Data visualization is the representation of data by using graphics such as charts, plots, infographics, and even animations.
It communicates complex data relationships and data-driven insights in a way that is easier to understand, especially for non-technical staff.

Machine Learning Algorithm

A machine learning algorithm is a set of rules or processes used by an AI system to conduct tasks, often to discover new data insights and patterns, or to predict output values from a given set of input variables.

Roles in Business Analytics

Data Scientists: responsible for managing algorithms and models that power business analytics programs, excel at problem-solving, and usually need to know several programming languages.
Data Engineers: create and maintain information systems that collect data from different places, clean and sort it, and place it in a master database.
Data Analysts: play a pivotal role in communicating insights to external and internal stakeholders, collecting and analyzing data sets, and building data visualizations.

Description

This quiz covers business analytics, data management, and data mining, with a focus on statistical methods and computing technologies for processing and analyzing data to inform business decision-making.