PP Business Analytics 2

These are the basis of all modeling/learning in Data Analytics

(a)  

The goal of the analysis is to gain a compact insight into the patterns and dependencies in the data and possibly use this as a basis for forecasts.

(a)  

are the basis of all modeling/learning. Fundamental concepts are observational units and variables. The values or realizations of the variables are measured (collected) for each unit, resulting in the data or observations.

(a)  

Often used as an alternative term for (a)   for decision making, especially in a business intelligence context. Emphasizes combination of statistics with computer programming as well as focus on continuous reporting and predictions.

deals with raw business data, typically structured data, and provides insight and information for business decision making.

(a)  

In contrast data analytics deals with deep insights from the data that go beyond the internal data including external data, diverse data formats and data types, unstructured as well as structured data.

• TRUE

• FALSE

utilizes more advanced statistical methods and analytics modeling than BI and often deals with much more complex and unstructured data types.

(a)  

is the science and art of collectng, analyzing , and drawing conclusions from data.

(a)  

is an object described in a set of data. (a)   can be people, animals or things.

an attribute that can take different values for different individuals

(a)