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?

Drill-Down Analysis Signup and view all the answers

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

To track progress in executing chosen strategies 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?

Dashboard 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?

Linear Regression Signup and view all the answers

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

CRISP-DM Signup and view all the answers

What is the primary function of Data Visualization?

To create a visual representation of data Signup and view all the answers

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

To analyze multidimensional data from many different perspectives Signup and view all the answers

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

To gain insight into certain elements of data Signup and view all the answers

What is the main goal of Data Mining?

To explore large amounts of data for hidden patterns Signup and view all the answers

What is the primary purpose of a Dashboard?

To track progress in executing chosen strategies Signup and view all the answers

What is the main benefit of Self-Service Analytics?

To empower end-users to work independently Signup and view all the answers

What is the primary function of a Data Cube?

To categorize data by dimensions such as time and geography Signup and view all the answers

What is the main purpose of Linear Regression?

To predict the value of a dependent variable 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.