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Questions and Answers
What is the primary goal of Business Intelligence?
Which of the following is a type of data visualization?
What is the purpose of Online Analytical Processing (OLAP)?
What is the main idea behind a data cube?
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What is drill-down analysis?
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What is linear regression used for?
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What is the purpose of data mining?
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What is a dashboard?
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Study Notes
Business Intelligence (BI)
- A wide range of applications, practices, and technologies for extracting, transforming, integrating, visualizing, analyzing, interpreting, and presenting data to support improved decision making.
Data Visualization
- Presentation of data in a pictorial or graphical format.
- Examples: Word cloud, Conversion funnel.
Data Analysis Tools
- Online Analytical Processing (OLAP): analyzes multidimensional data from multiple perspectives, enabling users to identify issues, opportunities, and perform trend analysis.
- Data cube: a collection of data containing numeric facts (measures) categorized by dimensions (e.g., time, geography).
- Drill-down analysis: interactive examination of high-level summary data to gain insight into specific elements.
Data Mining
- Exploration of large amounts of data to discover hidden patterns, predict future trends and behaviors for decision making.
- Cross-Industry Process for Data Mining (CRISP-DM): a six-phase structured approach for planning and executing data mining projects.
Performance Metrics
- Key Performance Indicator (KPI): a metric tracking progress in executing chosen strategies to attain organizational objectives and goals.
- KPI consists of a direct measure, target, and time frame.
- Dashboard: a presentation of a set of KPIs about the state of a process at a specific point in time.
Analytics Self-Service
- Training, technology, and processes that empower end-users to work independently, accessing data from approved sources to perform their own analysis using endorsed tools.
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Description
Test your knowledge of Business Intelligence and Analytics concepts, including data visualization, word clouds, and conversion funnels, to support informed decision making.
