LISELEC WEEK 7

What is the process of extracting meaningful insights from raw data called?

• Analytics

• Data Mining

• Data Processing

• Data Visualization

What does descriptive analytics aim to answer?

• What has happened?

• Why did it happen?

• What is likely to happen?

• What can we do to make it happen?

What is the aim of diagnostic analytics?

• To summarize past data

• To predict future outcomes

• To diagnose reasons for events

• To suggest best actions

What does predictive analytics forecast?

• Past events

• Future outcomes

• Current situations

• None of the above

What is the definition of big data?

• Data that is easy to manage

• Data that is difficult to store and analyze

• Data that is always structured

• Data that is small in volume

What are the characteristics of big data?

• Volume, Velocity, Variety, Veracity, Value

• Only Volume and Velocity

• Only Variety and Value

• None of the above

What does the velocity of data refer to?

• The size of the data

• The speed at which data is generated

• The accuracy of the data

• The usefulness of the data

What is the end goal of any big data analytics system?

• To store data

• To extract value from the data

• To generate more data

• To visualize data

What is web analytics used for?

• To analyze user engagement

• To store data

• To generate random data

• To visualize data

What do banks use credit risk models for?

• To predict loan defaults

• To analyze user behavior

• To monitor machine health

• To track health events