Which category of analytics will knowledge workers use to perform their jobs? - ANSWER-All answers are correct:
Descriptive analytics techniques that
... [Show More] describe past performance and history.
Predictive analytics techniques that extract information from data and use it to predict future trends and identify behavioral patterns.
Prescriptive analytics techniques that create models indicating the best decision to make or course of action to take.
Which of the following refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts? - ANSWER-Business intelligence
Data - ANSWER-Raw facts that describe the characteristics of an event or object
Order date
Amount sold
Customer number
Quantity ordered
Information - ANSWER-Data converted into a meaningful and useful context
Worst-selling product
Best-selling product
Best customer
Business Intelligence - ANSWER-Information collected from multiple sources that analyze patterns, trends, and relationships for strategic decision making
Lowest sales per week compared with interest rates
Best-selling product by month compared to sports season wins
Knowledge - ANSWER-The skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources
Choosing not to fire a sales representative who is underperforming knowing that person is experiencing family problems
Creating daily specials based on items that are about to expire first
Internet of Things (IoT) - ANSWER-A world where interconnected internet-enabled devices or "things" have the ability to collect and share data without human intervention
Machine-to-machine (M2M) - ANSWER-Refers to devices that connect directly to other devices
Unstructured data - ANSWER-Not defined and does not follow a specified format and is typically free-form text such as emails, Twitter, and text messages
Machine-generated data - ANSWER-Data created by a machine without human intervention
Machine-generated unstructured data - ANSWER-Includes satellite images, scientific atmosphere data, and radar data
Human-generated unstructured data - ANSWER-Includes text messages, social media data, and emails
Structured data - ANSWER-A defined length, type, and format and includes numbers, dates, or strings such as Customer Address
Human-generated data - ANSWER-Data that humans, in interaction with computers, generate
Variety - ANSWER-Different forms of structured and unstructured data
Data from spreadsheets and databases as well as from email, videos, photos, and PDFs, all of which must be analyzed
Veracity - ANSWER-The uncertainty of data, including biases, noise, and abnormalities
Uncertainty or untrustworthiness of data
Data must be meaningful to the problem being analyzed
Must keep data clean and implement processes to keep dirty data from accumulating in systems
Volume - ANSWER-The scale of data
Includes enormous volumes of data generated daily
Massive volume created by machines and networks
Velocity - ANSWER-The analysis of streaming data as it travels around the Internet
Analysis necessary of social media messages spreading globally
Analytics - ANSWER-The science of fact-based decision making
Business Analytics - ANSWER-The scientific process of transforming data into insight for making better decisions
Predictive Analytics - ANSWER-Uses techniques that extract information from data and uses it to predict future trends and identify behavioral patterns
Prescriptive Analytics - ANSWER-Uses techniques that create models indicating the best decisions to make or course of action to take
Descriptive Analytics - ANSWER-Uses techniques that describe past performance and history
Accounting - ANSWER-Transactional data
Purchasing data
Payroll data
Tax data
Finance - ANSWER-Investment data
Monetary data
Reporting data
Human Resources - ANSWER-Employee data
Promotion data
Vacation data
Marketing - ANSWER-Promotion data
Sales data
Advertising data
Operations Management - ANSWER-Manufacturing data
Distribution data
Production data
Sales - ANSWER-Potential customer data
Sales report data
Commission data
Customer support data
Classification - ANSWER-Assigns records to one of the predefined set of classes
The process of organizing data into categories or groups for its most effective and efficient use
Estimation - ANSWER-Determines values for an unknown continuous variable behavior or estimated future value
Clustering - ANSWER-Segments a heterogeneous population of records into a number of more homogeneous subgroups
A technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible
Affinity Grouping - ANSWER-Determines which things go together
Reveals the relationship between variables along with the nature and frequency of the relationships
Prediction - ANSWER-A statement of what will happen next in a sequence of events.
Forecasting - ANSWER-Predictions based on time-series information, allowing users to manipulate the time series for forecasting activities
Regression - ANSWER-A statistical process for estimating the relationships among variables. It includes many techniques for modeling and analyzing several variables when the focus is on the relationship between a dependent variable and one or more independent variables [Show Less]