Chapter 1, Today's Analyst Flashcards
Name the 3 analytic techniques in the book
Descriptive, Predictive, Prescriptive
What analytical technique uses statistics to represent the nature of the data?
Descriptive Analytics
What’s the most basic/easy to do kind of analytics?
Descriptive Analytics
Which analytic technique relies on advanced statistical tools and uses machine learning/AI etc?
Predictive Analytics
Which analytic technique would you use if you wanted to optimize a business process?
Prescriptive analytics
What term describes mimicking human behaviour/thinking?
Artificial Intelligence
What term/technique describes applying statistics to data problems to discover new knowledge?
Machine Learning
Machine Learning uses what to discover new knowledge?
Algorithms
What is the highly specialized sub-field of machine learning?
Deep Learning
Which technique is best for analysis of image, video and sound? Machine Learning or Deeping Learning?
Deep Learning
What type of analytics techniques helps you answer a question like “what proportion of my customers are female”?
Descriptive Analytics
if you wanted to optimize behaviour of customers, which analytical technique would you use?
Prescriptive
If you’re running simulations of multiple scenarios to find out which would be the most efficient, which analytical technique would you be using?
Prescriptive
Which type of analytics uses machine learning and integrates predictive analytics?
Prescriptive analytics
complete the sentences:
_______ analytics helps you understand likely future trends and outcomes.
___________ analytics evaluates multiple possible actions and their impact on the outcome, aiming to identify the best course of action
PREDICTIVE analytics helps you understand likely future trends and outcomes.
PRESCRIPTIVE analytics evaluates multiple possible actions and their impact on the outcome, aiming to identify the best course of action
