Lesson 1: Introduction to Analytics

Question 1

A big data characteristic related to consistency, accuracy, quality, and trustworthiness

Answer 1

Veracity

Question 2

The popular representation of the relationship between data, information, knowledge, and wisdom in the DIKW Pyramid

Answer 2

Knowledge Hierarchy

Question 3

Help a business optimize its performance, perform more efficiently, maximize profit, or make more strategically-guided decisions.

Answer 3

Data analytics

Question 4

refers to data that is so large, fast or complex that it’s difficult or impossible to process using traditional methods

Answer 4

big data

Question 5

The process of parsing historical data to better understand the changes that have occurred in a business

Answer 5

descriptive analytics

Question 6

Refers to the rate of change and lifetime. Organizations need to understand how long a specific type of data is valid.

Answer 6

volatility

Question 7

The use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data.

Answer 7

predictive analytics

Question 8

is the process of analyzing digital data from various sources like websites, mobile applications, among others

Answer 8

digital analytics

Question 9

the value obtained through the use of analytics

Answer 9

insight

Question 10

the process of using data to determined an optimal course of action

Answer 10

prescriptive analytics

Question 11

The systematic computational analysis of data or statistics

information resulting from the systematic analysis of data or statistics

Answer 11

Analytics

Question 12

Highest awards on TQM

Answer 12

Deming prize

Question 13

Quality guru

Answer 13

Dr. W. Edwards Deming

Question 14

Deming was referring to the use of data to improve ______

Answer 14

manufacturing quality

Question 15

lots and lots and lots of data

Answer 15

volume

Question 16

Different forms of data! Structured + Unstructured

Answer 16

Variety

Question 17

Analysis of streaming data

Answer 17

Velocity

Question 18

Uncertainty of data

Answer 18

Veracity

Question 19

Validity of data

Answer 19

Volatility

Question 20

Law of Men: He predicted that the number of transistors on a chip would double
roughly every two years, with a minimal rise in cost

Answer 20

1965, Intel co-founder Gordon Moore

Question 21

Law of Men: “I would expect that next year, people will share twice as
much information as they share this year, and next year,
they will be sharing twice as much as they did the year
before”

Answer 21

Mark Zuckerberg

Question 22

In God we trust, all others must bring data.

Answer 22

Adam Breckler

Question 23

•Assess web content problems so that they can be rectified
•Have a clear perspective of website trends
•Monitor web traffic and user flow
•Demonstrate goals acquisition
•Figure out potential keywords
•Identify segments for improvement
•Find out referring sources

Answer 23

Web Analytics Process