10 Questions
What is data?
A collection of facts such as numbers, words, measurements, or observations
What is datafication?
A process of taking all aspects of life and turning them into data
What is the analogy 'Data is the New Oil' trying to convey?
Data is as valuable as oil but needs refining to be useful
What benefits can be obtained from collecting and monitoring data on social platforms like Facebook?
Market products and services based on user actions and friendships
What types of data can be collected in the banking sector?
Transaction data, customer demographics, and financial behavior
What is the main idea behind datafication?
A technological trend turning many aspects of our life into data
What does the analogy 'Data is the New Oil' imply?
Data is valuable but needs refinement to be useful
What are examples of areas where significant data collection occurs?
Web data, Telecom, Bank/credit transactions
How can social platforms like Facebook utilize the collected data?
To collect and monitor data information of users' actions and friendships for targeted marketing
What is the primary purpose of datafication?
To transform various aspects of life into data for new forms of value
Test your understanding of the fundamentals of data science with this quiz, covering topics such as the definition of data, the roles of data scientists, and the main areas and processes involved in data science.
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