Chapter 9 Big Data Analytics For Managing Risk

Question 1

Big data

Answer 1

Sets of data that are too large to be gathered and analyzed by traditional methods

Question 2

Structured data

Answer 2

Data organized into data bases with defined fields including links between databases

Question 3

Unstructured data

Answer 3

Data that is not organized into predetermined format such as databases and often consist of text images or other non-traditional media

Question 4

Data science

Answer 4

And interdisciplinary field involving the design and use of techniques to process very large amounts of data from a variety of sources and to provide knowledge based on the data

Question 5

Internal data

Answer 5

Data that is owned by an organization

Question 6

External data

Answer 6

Dad of that belongs to the entity other than the organization that wishes to acquire and use it

Question 7

Economic data

Answer 7

Data regarding the interest rates asset prices exchange rates the consumer price index and other information about the global and the national or regional economy

Question 8

Geo demographic data

Answer 8

Data regarding classifications of a population

Question 9

Data driven decision making

Answer 9

And organizational process to gather and analyze relevant and verify will data and then evaluate the results to guide business strategies

Question 10

Internet of things

Answer 10

A network of objects that transmit data to computers

Question 11

Predictive model

Answer 11

Model used to predict an unknown out come by means of define target variable

Question 12

Training data

Answer 12

Data that is used to train a predictive model and that therefore must have known values for the target variable of the model

Question 13

Target variable

Answer 13

The predefined attribute whose value is being protected in a data analytical model

Question 14

Class label

Answer 14

The value of the target variable in a model

Question 15

attribute

Answer 15

The variable that describes a characteristic of an instance within a model

Question 16

Instance example

Answer 16

The representation of a data point described by a set of attributes within a models data set

Question 17

Overfitting

Answer 17

The process of fitting a model too closely to the training data for the model to be effective on other data

Question 18

Hold out data

Answer 18

In the model training process existing data with a known target variable that is not used as part of the training data

Question 19

Generalization

Answer 19

The ability of a model to apply it self to DotIt outside the training data