CH7_Data Analysis

What does predictive analytics focus on?

• Generating financial reports

• Identifying historical trends

• Forecasting future outcomes

• Recommending optimal decisions

Which analytical method is used for finding patterns in historical data?

• Predictive modeling

• Descriptive analytics

• Prescriptive analytics

• Machine learning

What role does data cleansing play in analysis?

• Identifies market trends

• Predicts customer behavior

• Removes errors and inconsistencies

• Automates decision-making

What does correlation analysis measure?

• The relationship between variables

• The number of missing values

• The effectiveness of a prediction

• The accuracy of financial data

Which technique is commonly used in predictive analytics?

• Regression analysis

• Data visualization

• Data profiling

• Dashboard reporting

What does data profiling help with?

• Identifying patterns and inconsistencies

• Generating predictive models

• Storing large datasets

• Automating machine learning

Which analytics type is best for answering "what happened"?

• Predictive analytics

• Descriptive analytics

• Prescriptive analytics

• Diagnostic analytics

What is a common challenge in data analysis?

• Finding enough irrelevant data

• Avoiding the need for visualization

• Ensuring data quality and consistency

• Replacing all human decision-makers

Which project management methodology is mentioned for data projects that emphasizes flexibility and iteration?

• Waterfall

• Six Sigma

• CRISP-DM

• Agile

What is the key characteristic of the “testing phase” in data projects?

• Data collection

• Model validation

• User training

• System design