Introduction to Data Ecosystem

Question 1

What is data?

Answer 1

A collection of facts, figures, and statistics that can exist in various forms like numbers, text, sound, and images.

Question 2

What is the difference between structured and unstructured data?

Answer 2

Structured Data: Organized format (e.g., spreadsheets, databases).
Unstructured Data: No predefined format (e.g., videos, emails, social media posts).

Question 3

What are the three versions of data?

Answer 3

Raw Data – Unprocessed facts and figures.
Information – Processed and organized data.
Insights – Actionable conclusions derived from information.

Question 4

What are the four Vs of data?

Answer 4

Volume – The amount of data.
Velocity – Speed of data generation.
Variety – Different forms of data.
Value – The usefulness of data.

Question 5

What is data science?

Answer 5

The study of data to extract meaningful insights using mathematics, statistics, AI, and computer science.

Question 6

What are the four key questions that data scientists answer?

Answer 6

What happened?
Why did it happen?
What will happen in the future?
What actions can be taken?

Question 7

Name at least five industries that use data science.

Answer 7

Ecommerce, Healthcare, Finance, Social Media, Manufacturing, Agriculture, Transportation.

Question 8

How does Uber use data science?

Answer 8

Uber uses demand forecasting to predict ride demand based on time, location, and historical data.

Question 9

How does Amazon’s recommendation system work?

Answer 9

Uses AI and machine learning to analyze customer behavior and suggest relevant products.

Question 10

Why is data visualization important?

Answer 10

Helps interpret and present data efficiently using graphs, charts, and dashboards.

Question 11

What are the types of data and define?

Answer 11

1. Qualitative: non-numeric in nature. For example, gender, product category, characteristics of bird
2. Quantitative: numerical values that can be measurable. We can perform mathematical operations to this type of data. For example, product cost, weather temperature etc.

Question 12

What are the type of qualitative data?

Answer 12

Nominal: Classifies data on basis of characteristics, no inherent sequence or hierarchy, e.g. hair colour

Ordinal: Classifies data containing order/rand, e.g. Bachelors, Masters, Doctarate

Question 13

What are the type of quantitative data?

Answer 13

Discrete: Takes specified distinct value, e.g. pencil in box

Continous: Takes any value within specified range, e.g. Temperature.