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Business Analytics I Final Exam Study Guide (rated 100% correct).
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Business Analytics I Final Exam StudyGuide (rated 100% correct).
data warehouses ANS - where data are recorded and stored electronically
big data ANS - data sets so large that traditional methods of storage and analysis are inadequate
transactional data ANS - data collected for recording the companies' transactions
data mining ANS - the process of using transactional data to make other decisions and predictions,
sometimes called predictive analytics
business analytics ANS - describes any use of statistical analysis to drive business decisions from data
observations ANS - information collected regarding some subject. who, what, when, where, (if possible)
why, and how. sometimes called data values
case ANS - an individual row of a data table corresponding to one set of data, identifies about whom
we record some characteristics, sometimes called records
respondents ANS - individuals who answer a survey
subjects ANS - people in an experiment, sometimes called participants
experimental units ANS - animals, plants, websites, or other inanimate objects
variables ANS - the characteristics recorded about each individual or case, identify what has been
measured
, metadata ANS - contains information about how, when, where, and possibly why the data were
collected; who each case represents; and the definitions of all the variables
relational database ANS - when two or more separate data tables are linked together so that
information can be merged across them. each data table included in the database is a relation because it
as about a specific set of cases with information about each of these cases for all the variables
qualitative variable ANS - when a variable names categories and answers questions about how cases
fall into those categories, also called categorical variable.
quantitative variable ANS - when a variable has measured numerical values with units and the variable
tells us about the quantity of what is measured
units ANS - how each value has been measured, the corresponding scale of measurement, how much
of something we have, how far apart two values are
identifier variable ANS - a unique identifier assigned to each individual or item in a group. do not have
units, useful in combining data from different sources, not variables to be analyzed. Ex: social security
number, student ID number, tracking number, transaction number
nominal variables ANS - categorical variables used only to name categories that don't have order
ordinal values ANS - when data values can be ordered. Ex: employees can be ranked according to the
number of months employed
time series data ANS - variables that are measured at regular intervals over time, typical measuring
points are months, quarters, or years
cross-sectional data ANS - when several variables are all measured at the same time point
frequency table ANS - organizes data by recording totals and category names, the names of the
categories label each row, report counts or percentages or both
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