Business Intelligence and Data Analysis
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Questions and Answers

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?

  • 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?

  • 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?

    <p>To analyze multidimensional data from many different perspectives</p> Signup and view all the answers

    What is a Data Cube?

    <p>A collection of data that contains numeric facts called measures, which are categorized by dimensions</p> Signup and view all the answers

    What is Drill-Down Analysis?

    <p>An interactive examination of high-level summary data in increasing detail to gain insight into certain elements</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 a single independent variable and the linear relationship between the two</p> Signup and view all the answers

    What is the main goal 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 CRISP-DM?

    <p>A six-phase structured approach for the planning and execution of a data mining project</p> Signup and view all the answers

    What is Self-Service Analytics?

    <p>Training, tech, and processes that empower end users to work independently to access data from approved sources to perform their own analysis using an endorsed set of tools</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.

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    Quiz Team

    Description

    This quiz covers business intelligence, data visualization, and data analysis tools, including OLAP, to support informed decision making.

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