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Worksheets2.1 The Data Analytics Revolution
Total questions: 11
Worksheet time: 11mins
Data analytics involved looking at historical data to...
uncover trends, patterns and other descriptive information about an organization
dicover patterns and trends
for trending, data analytics
uncover insights into customer and employee behaviors
Data sets used for analysis of trends, patterns and other descriptive information about an organization, is called?
traditional analytics
descriptive analytics
predictive analytics
business decisions analytics
descriptive analytics contain static data such as
past product performance
customer transactions
inventory levels
inventory lead times
descriptive analytics
is usually analyzed immediately
the less compiled
is to present information
is not usually analyzed immediately
What is the primary goal of traditional data analysis?
Is to present results of descriptive analytics
is to present information in a way that is easy for non-technical decision makers to understand
is no longer enough only to run descriptive analysis on data
is not used to draw inferences
Examples of insights uncovered through traditional analytics include...
past product performance
company profitability
inventory lead times
advertising program success
Example of organizations using advanced analytics to improve their operations
company profitability, inventory lead times
a bussines looking at historical data
a manufacturer constantly monitoring defect reports in order to modify production processes as quickly as possible
a bank immediately discards each transaction from the account
It is focused on what has happened
Diagnostic analytics
Predictive analytics
Prescriptive analytics
Descriptive analytics
It is focused on what could happen
Prescriptive analytics
Predictive analytics
Diagnostic analytics
Descriptive analytics
It is focused on what should happen
Prescriptive analytics
Descriptive analytics
Diagnostic analytics
Predictive analytics
It is focused on why things happen
Descriptive analytics
Predictive analytics
Diagnostic analytics
Prescriptive analytics
