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What is the primary function of Business Intelligence?
What is the primary function of Business Intelligence?
- To extract, transform, integrate, visualize, and present data to support decision making (correct)
- To analyze multidimensional data from many different perspectives
- To explore large amounts of data for hidden patterns to predict future trends
- To track progress in executing chosen strategies to attain organizational objectives
What is the main purpose of Data Visualization?
What is the main purpose of Data Visualization?
- To explore large amounts of data for hidden patterns to predict future trends
- To present data in a pictorial or graphical format (correct)
- To identify issues and opportunities as well as perform trend analysis
- To analyze multidimensional data from many different perspectives
What is a conversion funnel?
What is a conversion funnel?
- A method to analyze multidimensional data from many different perspectives
- A collection of data that contains numeric facts called measures, which are categorized by dimensions
- A visual depiction of a set of words that have been grouped together because of the frequency of their occurrence
- A graphical representation of the steps a consumer takes in making the decision to buy your product and become a customer (correct)
What is the main goal of OLAP?
What is the main goal of OLAP?
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What is a Data Cube?
What is a Data Cube?
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What is Drill-Down Analysis?
What is Drill-Down Analysis?
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What is the primary purpose of Linear Regression?
What is the primary purpose of Linear Regression?
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What is the main goal of Data Mining?
What is the main goal of Data Mining?
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What is CRISP-DM?
What is CRISP-DM?
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What is Self-Service Analytics?
What is Self-Service Analytics?
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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
This quiz covers business intelligence, data visualization, and data analysis tools, including OLAP, to support informed decision making.
