Final Exam Flashcards
What is an insight?
Inferences we can make from data
What are the four kinds of insights?
Descriptive, Diagnostic, Predictive and Perscriptive
Two Types of Qualitative Data (Categorical)?
Ordinal: order and rankings but intervals between don’t matter (high, medium low)
Nominal: distinct non ordered groups or labels
Two Types of Quantitative Data
Discrete: only specific distinct values
Continuous: any value within a given range is often measured
Measurements of data
Quantitative
Qualitative
Data Format
Structured (ex. table)
Unstructured (ex. paragraph)
Semi-structured (ex. JSON)
Data Volume
Big data (more than a few TB, enormous data within short time)
Small data (a few TB or less, controlled and steady data flow)
Data Collection
Primary
Secondary
Data sources
Internal (user’s data, internal dogs, logs)
External (web, Geo, Files, 3rd parties)
Data Time frame
Historical
Real-time
Explain Hypothesis testing
An assumption about an expected association. The goal is to either reject or retain the hypothesis. A/B testing uses this -> 2 different versions of a product are tested to see which performs better to determine whether the differences in performance between versions are statistically significant
What are predictive Analytics?
Using data to predict future outcomes
What are the measures of central tendency?
Mean
Median
Mode
What are the measures of dispersion?
Range -> minimum to maximum value
Variance -> measure of dispersion (how far a set of numbers is spread from the average)
Standard Deviance -> square root of the variance
What is a histogram?
A bar chart that displays the frequency of a numerical variables values - can be divided into bins
What is a count plot?
Bar chart that displays the count of observations in each category
- can be bivariate (2 attributes) or univariate (1 variate)
What are the three Human Reported Data Sources?
Surveys -> systematically collect quantifiable data from a sample of individuals to understand their opinions, preferences and satisfaction levels
Interviews -> to gather detailed qualitative insights through conversation
Focus groups -> gather diverse perspectives, ideas or feedback through a guided discussion between a group of participants
