Types of Analytics
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Questions and Answers

What type of analytics provides insight from historical data with reporting, score cards, clustering, etc.?

  • Predictive analytics
  • Descriptive analytics (correct)
  • Decision analytics
  • Prescriptive analytics

    • What is the primary goal of data science in the context of natural science?

  • To analyze human behavior
  • To create new data
  • To investigate the characteristics of data to benefit society (correct)
  • To understand the characteristics and laws that govern natural phenomena

    • What is the fundamental difference between data and information?

  • Data is raw, while information is analyzed
  • Data is an object, while information is a concept
  • Data is meaningless, while information is meaningful (correct)
  • Data is analyzed, while information is raw

    • What is an example of an application that needs data science in the government sector?

    <p>Government policies</p> Signup and view all the answers

    What is the focus of information science?

    <p>Understanding different contexts and circumstances related to data</p> Signup and view all the answers

    What is the advantage of studying data science in information schools or iSchools?

    <p>Gaining a more nuanced understanding of individual, community, and society-wide phenomena</p> Signup and view all the answers

    What is the primary goal of prescriptive analytics?

    <p>To recommend decisions using optimization and simulation</p> Signup and view all the answers

    What type of analytics involves predictive modeling using statistical and machine learning techniques?

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

    What is a primary focus of data science in the twenty-first century?

    <p>Accessing information from large databases</p> Signup and view all the answers

    What is a key skill required for data scientists?

    <p>The ability to visualize and express data</p> Signup and view all the answers

    What is the primary goal of business analytics?

    <p>To gain insight and be strategic</p> Signup and view all the answers

    What is the relationship between data science and computer science?

    <p>They are complementary and mutually supportive</p> Signup and view all the answers

    How has engineering contributed to data science?

    <p>By developing new hardware, such as CPUs and GPUs</p> Signup and view all the answers

    What is the primary focus of data visualization?

    <p>To express data in a way that is meaningful to others</p> Signup and view all the answers

    What is the relationship between data science and engineering?

    <p>Engineering has contributed to data science</p> Signup and view all the answers

    What is the role of statistics in data science?

    <p>To provide a strong foundation for data analysis</p> Signup and view all the answers

    What is data science according to Frank Lo?

    <p>A multidisciplinary blend of data inference, algorithm development, and technology</p> Signup and view all the answers

    What is the main goal of data science?

    <p>To solve analytically complex problems</p> Signup and view all the answers

    What is the '3V model' in data science?

    <p>A model that describes the characteristics of big data</p> Signup and view all the answers

    What is the difference between data science and statistics?

    <p>Data science is more focused on modern computers, while statistics is more focused on pre-computer data problems</p> Signup and view all the answers

    What is the primary activity of data analytics?

    <p>Exploring data using various tools and techniques</p> Signup and view all the answers

    What is the significance of data science in today's world?

    <p>It is a field that is virtually everywhere and has a wide range of applications</p> Signup and view all the answers

    Which of the following is an example of a data-driven company?

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

    What is the primary focus of data science?

    <p>Deriving insights from data to make better decisions</p> Signup and view all the answers

    Study Notes

    Types of Analytics

    • Decision analytics: supports decision-making with visual analytics that reflect reasoning
    • Descriptive analytics: provides insight from historical data with reporting, scorecards, clustering, etc.
    • Predictive analytics: employs predictive modeling using statistical and machine learning techniques
    • Prescriptive analytics: recommends decisions using optimization, simulation, etc.

    Data Science, Social Science, and Computational Social Science

    • Data science is used in government policies, people's mandates in elections, and hiring strategies in the private sector
    • Information science involves understanding information in different contexts and circumstances related to data creation, generation, and sharing

    Information vs. Data

    • Data is something raw and meaningless, while information is data with meaning and purpose
    • An example of data vs. information is the number "480,000" being a data point, but when explained as the number of deaths per year in the USA from cigarette smoking, it becomes information

    Data Science and Statistics

    • Data scientists should have at least three basic skills: knowledge of statistics, computer science skills, and data visualization skills
    • The difference between data science and statistics lies in the invention and advancements of modern computers

    Data Science and Computer Science

    • Data science and computer science overlap and are mutually supportive
    • Computer science algorithms and techniques, such as machine learning and data visualization, have contributed to the data science discipline

    Data Science and Engineering

    • Engineering in various fields has created demand for data scientists and data science methods
    • Data science has benefitted from new software and hardware developed via engineering, such as CPU and GPU

    Data Science and Business Analytics

    • Business analytics (BA) refers to the skills, technologies, and practices for continuous iterative exploration and investigation of past and current business performance
    • BA focuses on developing new perspectives and making sense of performance based on data and statistics
    • There are four types of analytics: descriptive, predictive, prescriptive, and decision analytics

    Data Science Definition and Importance

    • Data science is a multidisciplinary blend of data inference, algorithm development, and technology to solve analytically complex problems
    • Data science is a field of study and practice that involves the collection, storage, and processing of data to derive important insights and make better, fact-based decisions
    • The "3V model" describes the characteristics of big data: velocity, volume, and variety
    • Data science is important now because it is virtually everywhere, and its applications are numerous, including finance, public policy, politics, healthcare, urban planning, education, and libraries

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    Description

    This quiz covers the different types of analytics, including decision, descriptive, predictive, and prescriptive analytics, as well as their applications in data science and social science.

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