Introduction to Data Analytics
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Questions and Answers

What is the primary goal of data analytics in businesses?

  • To solve problems without data
  • To generate more data
  • To analyze social media data
  • To make better decisions and drive business growth (correct)

    • What is generated daily by companies around the globe?

  • Less data than before
  • Vast volumes of useful information
  • No data at all
  • Vast volumes of raw data (correct)

    • What is the purpose of using data analytics?

  • To only analyze social media data
  • To make guesses about business decisions
  • To derive value from generated data (correct)
  • To ignore customer-related data

    • What does data analytics enable businesses to do?

    <p>Make informed decisions based on data insights</p> Signup and view all the answers

    What is the outcome of using data analytics in business?

    <p>Driving smart business decisions</p> Signup and view all the answers

    What is the difference between data analytics and data science?

    <p>They are two different fields with distinct career paths</p> Signup and view all the answers

    What is the primary goal of data analysts in their work?

    <p>To reveal insights that can be acted upon by other stakeholders</p> Signup and view all the answers

    What tool is commonly used by data analysts for data mining and statistical analysis?

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

    What is the primary focus of descriptive analytics?

    <p>To analyze what has happened in the past</p> Signup and view all the answers

    What is a key difference between data analysts and data scientists?

    <p>The tools and skills required for each role</p> Signup and view all the answers

    What is the purpose of data aggregation in descriptive analytics?

    <p>To present data in a summarized format</p> Signup and view all the answers

    What is a key skill required for data scientists?

    <p>Software development</p> Signup and view all the answers

    What is the primary focus of descriptive analytics?

    <p>Determining and describing the 'what' of historical data</p> Signup and view all the answers

    What is the main goal of the discovery phase in diagnostic analytics?

    <p>Identifying additional data sources to explain anomalies</p> Signup and view all the answers

    What type of analytics tries to predict what is likely to happen in the future?

    <p>Predictive analytics</p> Signup and view all the answers

    What is the primary difference between descriptive and diagnostic analytics?

    <p>Descriptive analytics describes the 'what', while diagnostic analytics explores the 'why'</p> Signup and view all the answers

    What statistical technique is used in diagnostic analytics to uncover causal relationships?

    <p>Regression analysis</p> Signup and view all the answers

    What is an anomaly in diagnostic analytics?

    <p>A data point that cannot be explained by the data in front of them</p> Signup and view all the answers

    What is the primary goal of predictive analytics in business decision-making?

    <p>To forecast outcomes and increase the chances of success</p> Signup and view all the answers

    What is the main difference between predictive analytics and prescriptive analytics?

    <p>The focus on advising on actions and decisions</p> Signup and view all the answers

    What is a common application of predictive analytics in business?

    <p>Forecasting product popularity and revenue growth</p> Signup and view all the answers

    What is involved in conducting prescriptive analytics?

    <p>Considering a range of possible scenarios and assessing different actions</p> Signup and view all the answers

    What is a key benefit of using predictive analytics in business decision-making?

    <p>Reducing the reliance on intuition and guesswork</p> Signup and view all the answers

    What is the relationship between predictive analytics and prescriptive analytics?

    <p>Predictive analytics is a foundation for prescriptive analytics</p> Signup and view all the answers

    What is the ultimate impact of effectively using prescriptive analytics on a company?

    <p>Better decision-making and improved bottom line</p> Signup and view all the answers

    What is the primary purpose of using data analytics in organizations?

    <p>To make informed decisions</p> Signup and view all the answers

    What type of information can analyzed data reveal about customers?

    <p>Their interests, concerns, and more</p> Signup and view all the answers

    What is the result of using data analytics in improving decision-making?

    <p>Elimination of guesswork</p> Signup and view all the answers

    What is the benefit of using data analytics in operations?

    <p>Streamlined processes, cost savings, and boosted production</p> Signup and view all the answers

    What level of data measurement is the most complex?

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

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