Intro to Data Science Flashcards
Learn Data Science Into Terms
Business Intelligence (BI)
Tools and techniques for analyzing and understanding past data to make strategic decisions
Historical Data
Collected past data used for analysis
Dashboard
A user interface that visually summarizes the key data and metrics
Strategic Deciscions
Long-term planning choices
Tactical Decisions
Short term, specific actions
Artificial Intelligence (AI)
Enabling machines to perform tasks that typically require human intelligence
Machine Learning (ML)
A branch of artificial intelligence where computers learn from data to improve their performance on tasks
Data Analytics
The process of examining datasets to draw conclusions and find patterns using statistical techniques
Real-time Dashboards
Interactive tools that display data and metrics as they are updated in real-time
Third-party Data
Data collected by an external entity; Not your own company’s data
Predictive Analytics
The process of using data and statistical algorithms to predict future values or trends based on historical data
Algorithm
A set of rules or instructions designed to solve problems or perform tasks, often used in computing
Data Pattern
A recurring or recognizable element in a dataset, often indicating a trend or relationship
Client Retention
Business aiming to understand and predict customer purchasing behaviors to sell more products to existing clients
Client Acquistion
The process of gaining new clients or customers for a business, often through marketing and sales strategies
Fraud Prevention
Methods and systems used to detect and prevent fraudulent activities, such as unauthorized transactions
Speech Recognition
Technology that recognizes and interprets human speech, converting it into text or commands
Image Recognition
A computer technology that identifies objects, places, people, and other elements in digital images
Symbolic Reasoning
The process in artificial intelligence where symbols represent concepts or entities to make logical deductions
Advanced Analytics
Sophisticated data analysis techniques, often involving predictive models, machine learning, and big data
Data Collection
Gathering information systematically from various sources to analyze and make informed deciscions
Data Analysis
The process of inspecting, cleaning, and modeling data with the goal of discovering useful information
Forecasting
The use of historical data to predict future events or trends, often used in business, finance, and weather
predictions
Dataset
A collection of related sets of information, usually formatted in a table, used for analysis or processing
Analytical Tools
Software and applications used to analyze, visualize, and interpret data
Big Data
Extremely large data characterized by volume, variety, and velocity. Often requires cloud storage and processing
Real-time Data Processing
The continuous and immediate processing of data as it’s collected or generated
Data Pre-processing
The initial steps in data analysis involving cleaning and organizing data for further use
Text Data Mining
Extracting useful information and insights from textual data using analytical methods
Data masking
The practice of hiding original data with modified content (e.g., characters or other other data) to protect sensitive information
Price Optimization
A technique to conceal sensitive information in a dataset by replacing it with fictitious but realistic data, ensuring privacy and security while allowing functional analysis and testing
Inventory Management
The practice of overseeing and controlling the ordering, storage, and use of a company’s inventory
Seasonality Patterns
Trends or recurring changes in data observed at regular intervals throughout a year, often influenced by seasons
Shipment Logistics
The coordination of transporting goods from one place to another, including planning, execution, and tracking
Metrics
Quantitative measurers used to track and asses the status of specific processes
KPIs
Specific metrics used to evaluate the success of an organization or activity in meetings its objectives
Customer Retention
Strategies and activities aimed at keeping customers engaged and continuing to purchase form a business
Business Goal Alignment
The process of ensuring that business activities and strategies are focused on achieving the company’s primary objectives