Podcast
Questions and Answers
What is the primary goal of Business Intelligence?
What is the primary goal of Business Intelligence?
- To create complex data visualizations
- To support improved decision making (correct)
- To collect large amounts of data
- To develop predictive models
What is the purpose of a Conversion Funnel?
What is the purpose of a Conversion Funnel?
- To analyze customer behavior
- To predict future trends
- To visualize complex data
- To summarize the steps a consumer takes in making a purchase decision (correct)
What is OLAP used for?
What is OLAP used for?
- To analyze multidimensional data from many different perspectives (correct)
- To create data visualizations
- To collect large amounts of data
- To perform predictive modeling
What is a Data Cube?
What is a Data Cube?
What is the purpose of Drill-Down Analysis?
What is the purpose of Drill-Down Analysis?
What is the primary purpose of Linear Regression?
What is the primary purpose of Linear Regression?
What is the main purpose of Data Mining?
What is the main purpose of Data Mining?
What is the primary goal of Self-Service Analytics?
What is the primary goal of Self-Service Analytics?
Which of the following BI tools is used to identify hidden patterns in large datasets?
Which of the following BI tools is used to identify hidden patterns in large datasets?
What is the primary purpose of a Word Cloud?
What is the primary purpose of a Word Cloud?
What is the six-phase structured approach for planning and executing a data mining project?
What is the six-phase structured approach for planning and executing a data mining project?
What is the term for a collection of data that contains numeric facts called measures, categorized by dimensions such as time and geography?
What is the term for a collection of data that contains numeric facts called measures, categorized by dimensions such as time and geography?
Which of the following is a metric that tracks progress in executing chosen strategies to attain organizational objectives and goals?
Which of the following is a metric that tracks progress in executing chosen strategies to attain organizational objectives and goals?
What is the term for an interactive examination of high-level summary data in increasing detail to gain insight into certain elements?
What is the term for an interactive examination of high-level summary data in increasing detail to gain insight into certain elements?
What is the term for a graphical representation that summarizes the steps a consumer takes in making the decision to buy a product and become a customer?
What is the term for a graphical representation that summarizes the steps a consumer takes in making the decision to buy a product and become a customer?
What is the term for a presentation of a set of KPIs about the state of a process at a specific point in time?
What is the term for a presentation of a set of KPIs about the state of a process at a specific point in time?
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.
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 concepts, including data visualization and data analysis tools such as OLAP.
