Data Analysis Flashcards
What is data and information?
Distinct bits of information
Output of data processing
What are the types of data?
Quantitative
Qualitative
Discrete
What are the internal data sources (dark data)?
Transactions
Communication
Accounting records
Human resources
Machine logs
Procurement data
Timesheets
What are the external data sources (big data)?
New legislation
Market research
R&D
Companies house
What are the qualities of good information?
Accurate
Complete
Cost beneficial
User targeted
Relevant
Authoritative
Timely
Easy to use
What are the 4 analysis methods?
Descriptive stats
Inferential stats
Exploratory data analysis
Confirmatory data analysis
What are the 3 sampling methods?
Simple random
Systematic
Stratified
What are the sum, average and countif excel formulae?
=SUM(A1:A10)
=AVERAGE(A1:A10)
=COUNTIF(A1:A10, B1)
What are the 7 types of data bias?
Selection bias
Self-selection bias
Observer bias
Omitted variable bias
Cognitive bias
Confirmation bias
Survivorship bias
What are type 1 and 2 errors?
Type 1 - null hypothesis true, sample biased - reject
Type 2 - null hypothesis false, sample supports - accept
What are the 4 V characteristics of big data?
Volume
Velocity
Variety
Veracity
What is structured data?
Created data
Provoked data
Transacted data
Complied data
All for particular purpose
What is unstructured data?
Captured data
User-generated data
What are the sources of big data?
Processed data
Open data
Human-sourced data
Machine-generated data
What are the types of data analytics?
Descriptive
Diagnostic
Predictive
Prescriptive
