Chapter 6

Question 1

Big data

Answer 1

High VOLUME, High, VELOCITY, and/or high VARIETY information that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation

Question 2

Data wrangling

Answer 2

is the process of cleaning, unifying, and preparing unorganized and scattered data sets for easy access and analyisis.

Question 3

Data exploration

Answer 3

discovery through numerical summaries and visualizations

Question 4

Data modeling

Answer 4

• Transform data to extract insights
• Build a model to represent the phenomenon of interest
• select variables to include in the model based on theory, previous findings, experience, and logic
• delineate relationships among variables–dependent, independent, or predictor variables

Question 5

Consumer insight

Answer 5

The capacity to gain an accurate and deep intuitive understanding of a consumer

Generate consumer insights by measuring how one variable affects another variable.