Data Science Concepts Quiz - Alexandria University

Study Notes

Data is the new oil
Data is collected and warehoused from various sources such as web data, e-commerce, financial transactions, online trading, and social networks
Devices outnumber people, as shown by the graph of the number of connected devices over time, and this number continues to rise exponentially.
Website bounce rates vary across different industries
Data usage examples include listening to music (Spotify), streaming videos (Game of Thrones on Showmax), browsing social media (Instagram), playing games (Fortnite), and streaming podcasts.

Systems should behave like humans and be adaptive to changing information and goals.
Systems must be interactive, interacting easily with people and other systems.
Systems must be contextual and understand meaning to exploit additional sources of information.
Cognitive computing requires processing large quantities of uncertain digital information of different types (text, speech, sensors, images, and others).
People want systems to be smarter, applying to personal and industrial systems.
More data requires more complex algorithms and technologies.

Methods for using Data include aggregation and statistics, data warehousing and OLAP, indexing, searching, and querying, keyword-based search, pattern matching using XML/RDF, knowledge discovery, data mining, and statistical modeling.

Data: Facts, numbers, or text processed by a computer, increasing in volume and variety in different formats and databases. This includes operational (sales, costs, inventory, payroll, accounting) and non-operational (industry sales, forecasts, macroeconomics) data and meta-data (data about the data itself, such as database design).
Information: Patterns, associations, or relationships in data, such as analysis of retail transaction data showing which products sell and when.
Knowledge: Information converted into understanding of historical patterns and future trends, such as summary information of supermarket sales analyzed in relation to promotional activities to understand consumer behavior to better predict which items are most susceptible to promotions.