Podcast
Questions and Answers
What is one primary function of prescriptive data analytics?
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.
Predictive modeling and statistical modeling are completely independent of one another.
False (B)
What does diagnostic data analytics help answer?
What does diagnostic data analytics help answer?
Why something occurred
Prescriptive analytics can be further broken down into ______ and random testing.
Prescriptive analytics can be further broken down into ______ and random testing.
Which technique is NOT commonly used in diagnostic data analytics?
Which technique is NOT commonly used in diagnostic data analytics?
The main purpose of prescriptive analytics is to analyze past data.
The main purpose of prescriptive analytics is to analyze past data.
Name one category that prescriptive data analytics is broken down into.
Name one category that prescriptive data analytics is broken down into.
Match the categories of analytics with their definitions:
Match the categories of analytics with their definitions:
Which stage is NOT typically included in the data analytics life cycle?
Which stage is NOT typically included in the data analytics life cycle?
The data analytics life cycle includes data cleaning as a crucial phase.
The data analytics life cycle includes data cleaning as a crucial phase.
Name one of the top data analytics trends expected to dominate in 2024.
Name one of the top data analytics trends expected to dominate in 2024.
The primary goal of the data analytics cycle is to convert raw data into __________.
The primary goal of the data analytics cycle is to convert raw data into __________.
Match the following tools with their primary usage:
Match the following tools with their primary usage:
What type of report is pre-designed and can be reused to convey specific information?
What type of report is pre-designed and can be reused to convey specific information?
Ad hoc reports are typically scheduled and generated on a regular basis.
Ad hoc reports are typically scheduled and generated on a regular basis.
What are the two categories of descriptive analytics?
What are the two categories of descriptive analytics?
The data analytics lifecycle consists of _____ phases.
The data analytics lifecycle consists of _____ phases.
Match the following phases of the data analytics lifecycle with their descriptions:
Match the following phases of the data analytics lifecycle with their descriptions:
Which phase directly follows data cleaning in the data analytics lifecycle?
Which phase directly follows data cleaning in the data analytics lifecycle?
Descriptive analytics helps answer questions such as 'how many' and 'where'.
Descriptive analytics helps answer questions such as 'how many' and 'where'.
What is the purpose of ad hoc reports?
What is the purpose of ad hoc reports?
What technology is NOT driving the growth of data accessibility?
What technology is NOT driving the growth of data accessibility?
Big data is only used for collecting information and does not aid in decision-making.
Big data is only used for collecting information and does not aid in decision-making.
What is the primary goal of prescriptive analytics?
What is the primary goal of prescriptive analytics?
__________ Analytics helps companies understand the causes of problems.
__________ Analytics helps companies understand the causes of problems.
Match the type of analytics with its primary function:
Match the type of analytics with its primary function:
Which type of analytics utilizes historical and current data to anticipate market trends?
Which type of analytics utilizes historical and current data to anticipate market trends?
Businesses that effectively utilize big data can make quicker and more informed decisions.
Businesses that effectively utilize big data can make quicker and more informed decisions.
List one advantage companies gain by leveraging big data.
List one advantage companies gain by leveraging big data.
What advantage does Apache Hadoop provide for data processing?
What advantage does Apache Hadoop provide for data processing?
Tableau is an easy-to-navigate platform for business users requiring no analytical background.
Tableau is an easy-to-navigate platform for business users requiring no analytical background.
What type of data does Apache Spark handle?
What type of data does Apache Spark handle?
Power BI integrates seamlessly with __________'s ecosystem.
Power BI integrates seamlessly with __________'s ecosystem.
Which of the following platforms supports SQL queries, stream processing, and AI/ML applications?
Which of the following platforms supports SQL queries, stream processing, and AI/ML applications?
Match the following platforms with their main features:
Match the following platforms with their main features:
Qlik Sense allows users to perform ad-hoc queries and visualize real-time data.
Qlik Sense allows users to perform ad-hoc queries and visualize real-time data.
Organizations can collect data from diverse sources, including __________ sensors.
Organizations can collect data from diverse sources, including __________ sensors.
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.
