WGU C207 OA Questions and Answers 100% Pass Simple indexing Common analytic measure to improve performance. Compares current data with data during a base period.
(Price / Price during "Base Period") x 100
i.e. Big Mac was 1.60 in 1968 which is base period. what is index for 2014 if price was 4.80...
simple indexing common analytic measure to improve performance compares current data with data during a base period
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WGU C207 OA Questions and Answers
100% Pass
Simple indexing ✔✔Common analytic measure to improve performance. Compares current data
with data during a base period.
(Price / Price during "Base Period") x 100
i.e. Big Mac was 1.60 in 1968 which is base period. what is index for 2014 if price was 4.80
then?
(4..60) * 100 = 300 (means price is 3x greater than base period)
Used to identify price fluctuations of supplies, materials, products, etc.
Weighted Index ✔✔assign a weight to allow for significant differences in the index.
Reasons for including analytics in decision-making ✔✔decrease cost of data storage
,increase processing power
Descriptive Analytics ✔✔using current and past data for strictly descriptive purposes.
i.e. car price data shows a 2% increase over the prior year
a manager wants to know why sales spiked during the prior quarter
Predictive / Inferential Analytics ✔✔using current and past data to predict/estimate future.
i.e. based on the past 10 years of data for car prices, we predict an increase of 1.5% over the
upcoming year.
Prescriptive Analytics ✔✔using past data to PREDICT or ESTIMATE future in order to
optimize operations
includes experimental design and optimization to aid in DECISION-MAKING. MANAGERIAL
DECISIONS.
,i.e. based on past data, sales prices for electric cars could increase by 5% if we increased
charging stations by 7%
Big data ✔✔Data so big that it's difficult to process using traditional methods.
Stored in a Data Warehouse.
Mined to identify patterns and trends
Primary purpose is to encourage buying behavior.
Enables products to be more tailored to customer base.
Improves decision-making.
Supports development of next generation products/services.
watch for keywords in test options. i.e. company TOTAL sales (just one number) vs all sales
invoices
, Structured / Quantitative Data ✔✔Data follows pre-defined formats.
i.e. multiple choice answers, addresses, names, stock tickers
Unstructured / Qualitative Data ✔✔Data doesn't follow pre-defined formats. Usually gets
structured by a "theme analysis"
i.e. blocks of freeform text, audio, video
Continuous Data ✔✔Data that can take any value (within a set range)
i.e. 3.14159, -189,115.2
a thermometer reads 66.5 degrees
Interval Data (data measuring levels) ✔✔data is ordered at equal intervals apart and "0" doesn't
mean absence of data, just another data point
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