Data Terms 2

Question 1

The process of transforming and preparing data for analysis, including data cleaning, data integration, data aggregation, and data formatting, to ensure that data is in a suitable format for analysis.

Answer 1

Data Wrangling

Question 2

A type of data visualization that displays KPIs and other metrics, and indicators in a single interface.

Answer 2

Dashboard

Question 3

The initial phase of data analysis that involves exploring and summarizing data to gain insights and identify patterns, often using techniques such as data visualization, summary statistics, and data profiling.

Answer 3

Exploratory Data Analysis(EDA)

Question 4

A subset of artificial intelligence that involves the use of algorithms and statistical models to enable computers to learn from data and make predictions or decisions without being explicitly programmed.

Answer 4

Machine Learning

Question 5

Quantifiable metrics used to measure the performance of a business or a process, often used to assess the effectiveness and efficiency of operations and track progress towards goals or objectives.

Answer 5

Key Performance Indicators (KPIs)

Question 6

The use of historical data, statistical algorithms, and machine learning techniques to forecast future outcomes or behaviors, such as predicting customer demand, identifying potential risks, or optimizing resource allocation.

Answer 6

Predictive Analytics

Question 7

The approach of making decisions based on data and evidence, rather than relying solely on intuition or subjective opinions, to improve decision quality and increase the likelihood of success.

Answer 7

Data-driven Decision Making