Introduction to Data Analysis
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What is one primary function of prescriptive data analytics?

  • Predicting future outcomes
  • Understanding past events
  • Testing variables for better outcomes (correct)
  • Analyzing demographic data

    • Predictive modeling and statistical modeling are completely independent of one another.

    False (B)

    What does diagnostic data analytics help answer?

    Why something occurred

    Prescriptive analytics can be further broken down into ______ and random testing.

    <p>optimization</p> Signup and view all the answers

    Which technique is NOT commonly used in diagnostic data analytics?

    <p>Forecasting (A)</p> Signup and view all the answers

    The main purpose of prescriptive analytics is to analyze past data.

    <p>False (B)</p> Signup and view all the answers

    Name one category that prescriptive data analytics is broken down into.

    <p>Optimization</p> Signup and view all the answers

    Match the categories of analytics with their definitions:

    <p>Predictive Analytics = Determining future outcomes Diagnostic Analytics = Understanding past events Prescriptive Analytics = Suggesting actions to take Descriptive Analytics = Summarizing historical data</p> Signup and view all the answers

    Which stage is NOT typically included in the data analytics life cycle?

    <p>Data obfuscation (A)</p> Signup and view all the answers

    The data analytics life cycle includes data cleaning as a crucial phase.

    <p>True (A)</p> Signup and view all the answers

    Name one of the top data analytics trends expected to dominate in 2024.

    <p>Any valid trend such as AI integration, augmented analytics, etc.</p> Signup and view all the answers

    The primary goal of the data analytics cycle is to convert raw data into __________.

    <p>insights</p> Signup and view all the answers

    Match the following tools with their primary usage:

    <p>Tableau = Data visualization Excel = Data analysis Python = Programming for data science R = Statistical computing</p> Signup and view all the answers

    What type of report is pre-designed and can be reused to convey specific information?

    <p>Canned report (A)</p> Signup and view all the answers

    Ad hoc reports are typically scheduled and generated on a regular basis.

    <p>False (B)</p> Signup and view all the answers

    What are the two categories of descriptive analytics?

    <p>Ad hoc reporting and canned reports</p> Signup and view all the answers

    The data analytics lifecycle consists of _____ phases.

    <p>seven</p> Signup and view all the answers

    Match the following phases of the data analytics lifecycle with their descriptions:

    <p>Defining business objectives = Identifying the business problem Cleaning your data = Preparing data for analysis Building models = Creating predictive algorithms Communicating with stakeholders = Sharing findings with team members</p> Signup and view all the answers

    Which phase directly follows data cleaning in the data analytics lifecycle?

    <p>Building models (B)</p> Signup and view all the answers

    Descriptive analytics helps answer questions such as 'how many' and 'where'.

    <p>True (A)</p> Signup and view all the answers

    What is the purpose of ad hoc reports?

    <p>To answer specific business questions</p> Signup and view all the answers

    What technology is NOT driving the growth of data accessibility?

    <p>Blockchain (B)</p> Signup and view all the answers

    Big data is only used for collecting information and does not aid in decision-making.

    <p>False (B)</p> Signup and view all the answers

    What is the primary goal of prescriptive analytics?

    <p>To provide solutions to problems</p> Signup and view all the answers

    __________ Analytics helps companies understand the causes of problems.

    <p>Diagnostics</p> Signup and view all the answers

    Match the type of analytics with its primary function:

    <p>Descriptive Analytics = Generating reports and visualizations Predictive Analytics = Forecasting future outcomes Prescriptive Analytics = Providing solutions to problems Diagnostics Analytics = Determining the causes of problems</p> Signup and view all the answers

    Which type of analytics utilizes historical and current data to anticipate market trends?

    <p>Predictive Analytics (B)</p> Signup and view all the answers

    Businesses that effectively utilize big data can make quicker and more informed decisions.

    <p>True (A)</p> Signup and view all the answers

    List one advantage companies gain by leveraging big data.

    <p>Enhanced operational efficiency</p> Signup and view all the answers

    What advantage does Apache Hadoop provide for data processing?

    <p>Enables distributed storage and processing (C)</p> Signup and view all the answers

    Tableau is an easy-to-navigate platform for business users requiring no analytical background.

    <p>False (B)</p> Signup and view all the answers

    What type of data does Apache Spark handle?

    <p>Semi-structured and structured datasets</p> Signup and view all the answers

    Power BI integrates seamlessly with __________'s ecosystem.

    <p>Microsoft</p> Signup and view all the answers

    Which of the following platforms supports SQL queries, stream processing, and AI/ML applications?

    <p>Apache Spark (B)</p> Signup and view all the answers

    Match the following platforms with their main features:

    <p>Hadoop = Distributed storage and processing of large data sets Tableau = Data visualization and interactive dashboards Qlik Sense = Ad-hoc queries and advanced data analytics Power BI = Integration with Microsoft's ecosystem</p> Signup and view all the answers

    Qlik Sense allows users to perform ad-hoc queries and visualize real-time data.

    <p>True (A)</p> Signup and view all the answers

    Organizations can collect data from diverse sources, including __________ sensors.

    <p>IoT</p> Signup and view all the answers

    Study Notes

    Types of Data Analytics

    • Predictive Analytics: Analyzes conversion rates relative to demographics (geography, income, interests) to forecast revenue for target audiences.
    • Prescriptive Data Analytics: Combines AI and big data to suggest actions based on predictions, optimizing decisions through machine learning.
    • Diagnostic Data Analytics: Identifies causes behind past events using techniques like data mining and correlation analysis, answering "why" something occurred.
    • Descriptive Data Analysis: Provides foundational reporting metrics to address basic business questions (what, when, where), divided into ad hoc (customized) and canned (pre-designed) reports.

    Data Analytics Lifecycle

    • Phases: Involves defining objectives, data cleaning, model building, and stakeholder communication, based on the CRISP-DM model by IBM.
    • Importance: Enables businesses to extract value from growing data volumes, driving decisions and operational efficiency.

    Big Data Concepts

    • Big Data: Vast and rapidly expanding datasets utilized in machine learning and analytics for informed decision-making.
    • Competitive Edge: Companies leveraging big data can make faster and more accurate decisions, enhancing revenue and customer service.

    Big Data Analytics Types

    • Descriptive Analytics: Generates reports and visualizations for profits and sales.
    • Diagnostics Analytics: Analyzes historical data to uncover root causes of issues.
    • Predictive Analytics: Forecasts future trends based on current and historical data.
    • Prescriptive Analytics: Offers actionable solutions using AI and machine learning for decision-making and risk management.

    Big Data Analytics Tools

    • Apache Hadoop: Open-source framework for distributed data storage and processing via commodity hardware.
    • Apache Spark: Handles large structured and semi-structured datasets with in-memory computing and supports various data processing tasks.
    • Tableau: Visualization tool that creates interactive dashboards, requiring some analytical background for effective use.
    • Qlik Sense: Allows users to perform ad-hoc queries and advanced analytics on large datasets with real-time tracking.
    • Power BI: Microsoft-integrated platform for data analytics and visualization, suited for users needing training for advanced features.

    Big Data Analytics Process

    • Data Collection: Organizations gather structured and unstructured data from diverse sources (cloud, IoT, mobile).
    • Data Processing: Proper organization of collected data is crucial for accurate analytical results, especially with large datasets.

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    Description

    This quiz focuses on the fundamental concepts of data analysis, particularly the distinction and relationship between predictive modeling and statistical modeling. It provides examples, such as the use of predictive analytics in advertising campaigns. Test your understanding of these essential topics in data analytics.

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