Introduction to Data Science
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Questions and Answers

What is data?

  • A description of things
  • Individual units of information
  • A collection of facts such as numbers, words, measurements, or observations (correct)
  • A process of turning aspects of life into data

What is datafication?

  • A technological trend turning many aspects of our life into data
  • A method for refining unutilized data
  • A way to collect and monitor data information for marketing products and services
  • A process of taking all aspects of life and turning them into data (correct)

What is the analogy 'Data is the New Oil' trying to convey?

  • Data can be used as fuel in various applications
  • Data is as valuable as oil but needs refining to be useful (correct)
  • Data has replaced oil as the most valuable resource
  • Data has similar properties to oil

What benefits can be obtained from collecting and monitoring data on social platforms like Facebook?

<p>Market products and services based on user actions and friendships (A)</p> Signup and view all the answers

What types of data can be collected in the banking sector?

<p>Transaction data, customer demographics, and financial behavior (A)</p> Signup and view all the answers

What is the main idea behind datafication?

<p>A technological trend turning many aspects of our life into data (C)</p> Signup and view all the answers

What does the analogy 'Data is the New Oil' imply?

<p>Data is valuable but needs refinement to be useful (A)</p> Signup and view all the answers

What are examples of areas where significant data collection occurs?

<p>Web data, Telecom, Bank/credit transactions (D)</p> Signup and view all the answers

How can social platforms like Facebook utilize the collected data?

<p>To collect and monitor data information of users' actions and friendships for targeted marketing (C)</p> Signup and view all the answers

What is the primary purpose of datafication?

<p>To transform various aspects of life into data for new forms of value (D)</p> Signup and view all the answers

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