BCOR 2205 Final Exam Review 2023 with complete solution

BCOR 2205 Final Exam Review 2023 with complete solution Internet of Things (IoT) A world where interconnected, internet-enabled devices or "things" have the ability to collect and share data without human intervention. Data Raw facts that describe the characteristics of an event or object. Information Data converted into a meaningful and useful context. I.E. Best selling product, best customer Business Intelligence Information collected from multiple sources that analyze patterns, trends, and relationships for strategic goals and decision making I.E. Lowest sales per week, best-selling product by month. Knowledge The skills, experience, and expertise, coupled with information and intelligence, that create a person's intellectual resources. I.E. Choosing not to fire a sales rep who is underperforming. Big Data A collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools. Volume Scale of data. Includes enormous volumes of data generated daily. Velocity Analysis of streaming data. Variety Different forms of structured or unstructured data. Data from spreadsheets, email, video, etc. Veracity Uncertainty of data, including biases, noise, and abnormalities. Uncertainty or untrustworthiness of data. Analytics The science of fact-based decision making. Business Analytics The scientific process of transforming data into insight for making better decisions. Data Mining The process of analyzing data to extract information onto offered by the raw data alone. Estimation Analysis Determines values for unknown continuous variable behavior or estimated future value. Affinity Grouping Analysis