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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 purpose of Business Intelligence (BI)?

  • To support improved decision making (correct)
  • To predict future trends and behaviors
  • To visualize data in a graphical format
  • To extract and transform data
  • What is the term for a graphical representation of the steps a consumer takes in making a purchase decision?

  • Conversion Funnel (correct)
  • Drill-Down Analysis
  • Data Cube
  • Dashboard
  • What is the term for a visual depiction of a set of words grouped by frequency of occurrence?

  • Data Visualization
  • Word Cloud (correct)
  • Linear Regression
  • Online Analytical Processing (OLAP)
  • What is the term for an interactive examination of high-level summary data to gain insight into certain elements?

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

    What is the primary purpose of a Key Performance Indicator (KPI)?

    <p>To track progress in executing chosen strategies</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

    What is the term for a mathematical procedure to predict the value of a dependent variable based on a single independent variable?

    <p>Linear Regression</p> Signup and view all the answers

    What is the term for a structured approach for the planning and execution of a data mining project?

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

    What is the primary function of Data Visualization?

    <p>To create a visual representation of data</p> Signup and view all the answers

    What is the main purpose of Online Analytical Processing (OLAP)?

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

    What is the primary benefit of using Drill-down analysis?

    <p>To gain insight into certain elements of data</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</p> Signup and view all the answers

    What is the primary purpose of a Dashboard?

    <p>To track progress in executing chosen strategies</p> Signup and view all the answers

    What is the main benefit of Self-Service Analytics?

    <p>To empower end-users to work independently</p> Signup and view all the answers

    What is the primary function of a Data Cube?

    <p>To categorize data by dimensions such as time and geography</p> Signup and view all the answers

    What is the main purpose of Linear Regression?

    <p>To predict the value of a dependent variable</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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    Description

    Test your knowledge of Business Intelligence, Data Visualization, and Data Analysis Tools. Learn how to extract, transform, and present data to support informed decision making.

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