Data Analytics Value Chain Quiz: Test Your Knowledge with Flashcards

Study Notes

Predictive Analytics

Focuses on what will happen in the future
Involves disciplines like data mining, algorithm, and machine learning
Professionals involved are data scientists, statisticians, and statistical modelers
Key responsibilities include developing statistical models and using statistical techniques

Diagnostic Analytics

Focuses on why something happened
No additional information provided

Prescriptive Analytics

Focuses on what should be done
Involves disciplines like optimization and simulation
Professionals involved are functional analysts and RHMFO analysts
Key responsibilities include utilizing data and leveraging insights

Analytics Manager and Chief Data Officer

Guide and develop domains like business and industry
Key responsibilities include making data-driven decisions
Involve data value chain and decision support system

Analytics Skills and Competencies

3 levels: entry, immediate, and expert
4 skills: business, organization, technical, and workplace
10 competencies including domain knowledge, data management, operational analytics, and more

Analytics Competencies

Domain Knowledge and Application

Involves understanding the domain, industry, and business
Key responsibilities include crafting content strategies and formulating case studies

Data Management and Governance

Involves managing and governing data
Key responsibilities include enforcing policies and following ethics

Operational Analytics

Involves deriving insights from analytics
Key responsibilities include writing business analysis and determining business implications

Data Visualization and Presentation

Involves crafting compelling visual presentations
Key responsibilities include creating simple visualizations and determining best visualization techniques

Research Methods

Involves using scientific and engineering methods to develop new knowledge
Key responsibilities include understanding and applying the 4-step research method

Data Engineering

Involves developing analytical applications using ETL and system software
Key responsibilities include using SQL and NoSQL and creating databases

Statistical Techniques

Involves applying statistical methods and concepts
Key responsibilities include determining best statistical approaches and checking data for errors

Data Analysis, Methods, and Algorithms

Involves employing machine learning and algorithms to develop insights from data
Key responsibilities include using hypothesis testing and statistical modeling

Data Value Chain

Refers to the lifecycle of data, allowing for data-driven decisions
Involves data creation, information, insights, and decision-making
Disciplines involved include data management, data governance, and data security

Description

Test your knowledge on the refinement of data in the Data Analytics Value Chain, which enables data-driven decisions. Explore the lifecycle of data, from creation to governance and ethics, along with the roles and responsibilities involved.

Data Analytics Value Chain Quiz

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Questions and Answers

What is the primary focus of Predictive Analytics?

Which profession is responsible for developing statistical models and utilizing statistical techniques?

What is the key responsibility of an Analytics Manager?

Which competency involves understanding domain, industry, and business knowledge for decision-making?

What is a common responsibility of a Data Scientist?

Prescriptive Analytics is concerned with:

What is the primary role of a Data Steward/Gatekeeper?

Which discipline is associated with Descriptive Analytics?

What does the term 'ETL Engineer' stand for in the context of data?

Which domain is typically associated with Insights generation?

What is the main responsibility of a Data Curator?

Which activity is part of the Data Analysis phase in the Data Value Chain Lifecycle?