2 Week

Question 1

Analytics with Ba

Answer 1

1. Recognize a problem
2. Define the problem
3. Structure the problem
4. Analyze the problem
5. Interpret results
6. Implement the solution

Question 2

Realizing the problem

Answer 2

Findinf sing of issues

Question 3

Define the problem

Answer 3

clearly define the problem, what is part and what is not?

Question 4

Structure the problem

Answer 4

stating goals and objectives, charactherizing the possible decisions

Question 5

Analyze the problem

Answer 5

Analytics plays a major role, involves experimentation and modelling process.

Question 6

Interpret reults and make decision

Answer 6

What do the results found by the model mean for the application?

Question 7

implement the solution

Answer 7

Translate the results of the model back to the real world

Question 8

data

Answer 8

• Raw facts
• No context
• Just numbes and text

Question 9

Information

Answer 9

• Data with context
• Processed data
• Value added to data

Question 10

Knowledge

Answer 10

• Knowing what information is required

* Knowing what the information means

Question 11

Data source (internal)

Answer 11

• Annual reports
• Accounting Audits
• Financial profitability
• Operation managment performance
• Human resource measurements

Question 12

Data source(External)

Answer 12

*Economic trends
*Marketing research
*

Question 13

New development

Answer 13

• Web behavour
• Social Media
• IOT

Question 14

Big Data

Answer 14

refer to massive amounts of business data from a wide variety of sources, much of wich is avalaible in real time, and much of which is uncertain or unpredictable. IBM calls the caractheristics volumen, variety,

Question 15

Database

Answer 15

A collection of related tables containing records on peoplem places or things (extract with SQL)

Question 16

Data set

Answer 16

A collection of data (often a single “spread sheet” or data mining table)

Question 17

Discrete (Type of data)

Answer 17

derived from counting something (Ex. Is the deliver in time?)

Question 18

Continous (Type of data)

Answer 18

based on a continous scale of measurement (any metrics involving money, lenght, time)

Question 19

Measurment scales (Categorical (nominal data))

Answer 19

sorted into categories according to specified characteristics [Equality: IAre the colors the same?]

Question 20

Measurment scales(Ordinal data)

Answer 20

can be ordered and ranked according to relationship to another [sort: Is this value larger or better?]

Question 21

Measurment scales (Interval data)

Answer 21

there is order and the differences between the values is meaningful [Temperatu]

Question 22

Measurment scales (ratio data)

Answer 22

has all the properties of an internval variable [prices]

Question 23

Reliability

Answer 23

data accurate and consistent

Question 24

validity

Answer 24

data measures what is supose to be measured

Question 25

Experiment

Answer 25

Method for testing differen assumptions by trial and error under conditions constructed and controlled. Independed variables are allow to change and the effects are analyzed

Question 26

"Test and learn approach"

Answer 26

take action with one group then take action with another group and check 1. Focus on individuals and think short term (immidate response ) 2. Keep it simple 3. start with prof-of concept test 4. when results come in, slice the data 5. try out-of-the-box thinking 6. Measure everything that matter. 7. Look for natural experiments

Question 27

Tools

Answer 27

data base queries and analysis: * spreadsheets * Data manipulation * Data visualization * Dashboard to report KPM

Question 28

Descriptive analytics

Answer 28

* Data source & types * Data wharehouse * Ghapical represatation * Data visualiztion * Analytics using SW

Question 29

Predictive analysys

Answer 29

* Simple linear regression * Multiple regrassion model * Non-linear refression * Time series forecasting * Simulation models

Question 30

Model

Answer 30

an abstraction or represatin of a real system | *Capture most importan featured

Question 31

Predcitve (Category) ANOMALY

Answer 31

something out of the common

Question 32

Predcitve (Category) ASSOCIATION LEARNING

Answer 32

classification and cluster

Question 33

prescriptive analysis

Answer 33

* Optimization model * Simulation model * Decision analysis * spreadsheet models