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Business Intelligence and Data Analysis
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Business Intelligence and Data Analysis

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Questions and Answers

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?

  • 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?

  • 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?

    <p>A collection of data that contains numeric facts called measures</p> Signup and view all the answers

    What is the purpose of Drill-Down Analysis?

    <p>To analyze high-level summary data in increasing detail</p> Signup and view all the answers

    What is the primary purpose of Linear Regression?

    <p>To predict the value of a dependent variable based on an independent variable</p> Signup and view all the answers

    What is the main purpose of Data Mining?

    <p>To explore large amounts of data for hidden patterns to predict future trends and behaviors</p> Signup and view all the answers

    What is the primary goal of Self-Service Analytics?

    <p>To empower end users to work independently to access data from approved sources</p> Signup and view all the answers

    Which of the following BI tools is used to identify hidden patterns in large datasets?

    <p>Data Mining</p> Signup and view all the answers

    What is the primary purpose of a Word Cloud?

    <p>To visualize data in a pictorial format</p> Signup and view all the answers

    What is the six-phase structured approach for planning and executing a data mining project?

    <p>CRISP-DM</p> Signup and view all the answers

    What is the term for a collection of data that contains numeric facts called measures, categorized by dimensions such as time and geography?

    <p>Data Cube</p> Signup and view all the answers

    Which of the following is a metric that tracks progress in executing chosen strategies to attain organizational objectives and goals?

    <p>Key Performance Indicator (KPI)</p> Signup and view all the answers

    What is the term for an interactive examination of high-level summary data in increasing detail to gain insight into certain elements?

    <p>Drill-Down Analysis</p> Signup and view all the answers

    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?

    <p>Conversion Funnel</p> Signup and view all the answers

    What is the term for a presentation of a set of KPIs about the state of a process at a specific point in time?

    <p>Dashboard</p> Signup and view all the answers

    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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    Test your knowledge of business intelligence concepts, including data visualization and data analysis tools such as OLAP.

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