BSAN 160 Final - Terms
Descriptive Analytics - Answer- the use of data to understand past and current business performance and make informed decisions
Predictive Analytics - Answer- extracts information from data and uses it to predict future trends and identify behavioral patterns
Prescri...
BSAN 160 Final - Terms
Descriptive Analytics - Answer- the use of data to understand past and current
business performance and make informed decisions
Predictive Analytics - Answer- extracts information from data and uses it to predict
future trends and identify behavioral patterns
Prescriptive Analytics - Answer- The set of analytical techniques that yield a best
course of action.
Data - Answer- Facts and statistics collected together for reference or analysis
structured data - Answer- Data that (1) are typically numeric or categorical; (2) can
be organized and formatted in a way that is easy for computers to read, organize,
and understand; and (3) can be inserted into a database in a seamless fashion.
unstructured data - Answer- nonnumeric information that is typically formatted in a
way that is meant for human eyes and not easily understood by computers
categorical data - Answer- Data that consists of names, labels, or other
nonnumerical values
Ordinal categorical data - Answer- Categorical data that can be ordered (ranked) e.g.
Grades: A, B, C...
Nominal categorical data - Answer- Categorical data that cannot be ordered (ranked)
e.g. Hair color
numerical data - Answer- Data that consists of numbers. Consists of interval and
ratio.
central tendency - Answer- mean, median, mode
spread (variability) - Answer- Quartiles, Standard Deviation, and Variance
Skewness - Answer- Shape
Variance - Answer- standard deviation squared
Negative Skew - Answer-
positive skew - Answer-
Decison support system (DSS) - Answer- helps users analyze info and make
decisions
, Business Intelligence (BI) - Answer- a broad category of applications, technologies,
and processes for gathering, storing, accessing, and analyzing data to help business
users make better decisions
data warehouse - Answer- A logical collection of information - gathered from many
different operational databases - that supports business analysis activities and
decision-making tasks
Business Performance Management (BPM) - Answer- uses data and statistical
methods to gain insight into the data and provide decision makers with information
they can act on
User Interface (UI) - Answer- controls how you enter data and instructions and how
information is displayed on the screen
Big Data - Answer- a broad term for datasets so large or complex that traditional
data processing applications are inadequate. Used in healthcare, web searches,
finance trading, social media, etc.
data cleaning - Answer- filling in missing values
smoothing noisy data
identifying or removing outliers
resolving inconsistencies
remove redundancy caused by data integration
Data Consolidation - Answer- the organization's CRM systems must manage
customer data effectively with modern interconnected systems built around a data
warehouse to make all customer-related data available to every unit of the business.
data transformation - Answer- Process of changing the data from their original form
to a format suitable for performing a data analysis addressing research objectives.
data reduction - Answer- the simplification of large amounts of data obtained from
qualitative interviews or other sources
merging data - Answer- reporting quantitative and qualitative data together
inner join - Answer- Most common type of join; includes rows in the query only when
the joined field matches records in both tables.
left outer join - Answer- A join that includes all of the rows from the first table in the
query and only those records from the second table that match the join field in the
first table.
right outer join - Answer- A join that includes all of the rows from the second table in
the query and only those records from the first table that match the join field in the
second table.
full outer join - Answer- A join in which all rows from both tables will be included
regardless of whether they match rows from the other table
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