24.11.28

Question 1

What is correlated data

Answer 1

Two variables that change in similar ways, perhaps because they’re linked to something else

Example:
Ice cream consumption <–> drowning incident

(both are linked to summer)

Question 2

What is casual data

Answer 2

An independent factor that directly impacts a
dependent one.

Example:
Summer –> Drowning incidents
Summer –> Ice cream consumption

Question 3

Correlations lets you…

Answer 3

predict the future

Example: I have 420 engaged users now, which will
convert to 75 paying customers next month.

Question 4

Causality lets you…

Answer 4

change the future

Example: If I can make a first-time visitors put an
item in the cart, I increase likelihood of a sale by 40%

Question 5

What is vanity data

Answer 5

Data that makes you feel good

Examples:

Total # messages sent on platform
Page visits
Likes
Followers
Registered users
Downloads
Logins

Question 6

What is actionable data

Answer 6

Helps you make good decisions

Examples:

Messages/month sent on platform
Active users
Retention/Churn
Conversion to paid
Customer Acquisition Cost
Customer Lifetime Value
LTV/CAC