MODULE 1: Analytics, The Data Value Chain, And The Analytics Roles

Question 1

Stages of Data

Answer 1

Data
Information
Insights
Imperatives

Question 2

Creation and generation of data from its source; the birth of data.

Answer 2

Data

Question 3

Consolidation of relevant data to single repository to answer what happened?

Answer 3

Information

Question 4

Finding patterns to answer why it happened and what could likely happen next.

Answer 4

Insights

Question 5

Development of various options to suggest what should be done next

Answer 5

Imperatives

Question 6

the process of establishing policies, standards, roles, responsibilities, and controls for managing data across an organization or a system.

Answer 6

Data governance

Question 7

practice of collecting, organizing, protecting, and storing an organization’s data so it can be analyzed for business decisions.

Answer 7

Data management

Question 8

practices, processes and tools that help organizations protect sensitive digital information, both in transit or at rest, from unauthorized access, disclosure, theft and tampering.

Answer 8

Data Security

Question 9

is the study of the moral principles and values that guide the collection, analysis, sharing, and use of data.

Answer 9

Data ethics

Question 10

process of designing, building, and maintaining systems, pipelines, and architectures for collecting, storing, and processing large volumes of data.

Answer 10

Data engineering

Question 11

involves the creation and management of a centralized repository, known as a data warehouse, where structured and sometimes semi-structured data from various sources are stored, organized, and made available for analysis and reporting.

Answer 11

Data warehousing

Question 12

refers to the high-level design and structure of an organization’s data environment. It encompasses the definition of data models, data flows, data storage, data integration, and data governance strategies.

Answer 12

Data architecture

Question 13

refers to the technologies, processes, and tools used to gather, analyze, and present data in a format that helps organizations make informed business decisions.

Answer 13

Business Intelligence

Question 14

• a statistical method that is used to search and summarize historical data in order to identify patterns or meaning that to give an account of what has happened

Answer 14

Descriptive Analytics

Question 15

process of discovering patterns, trends, correlations, or other meaningful insights from large and complex datasets.

Answer 15

Data mining

Question 16

step-by-step sets of instructions or rules that are followed to solve a specific problem or perform a task. In the context of data science and computer science, algorithms are used to process data, perform calculations, make predictions, and enable various types of analyses.

Answer 16

Algorithms

Question 17

focuses on developing algorithms and models that enable computers to learn from data and improve their performance over time. Instead of being explicitly programmed, machine learning systems use data to identify patterns, make predictions, or make decisions.

Answer 17

Machine Learning

Question 18

involves using historical data and statistical algorithms to make predictions about future events or outcomes

Answer 18

Predictive Analysis

Question 18

involves analyzing historical data to understand why certain events or outcomes occurred. It focuses on providing insights into the root causes of specific occurrences, often involving data exploration and investigation.

Answer 18

Diagnostic Analysis

Question 19

involves the process of finding the best possible solution from a set of available options, given certain constraints and objectives.

Answer 19

Optimization

Question 20

imitation or modeling of a real-world process or system using a computer program.

Answer 20

Simulation

Question 21

It combines data analysis, optimization techniques, and domain knowledge to recommend the best course of action in a given situation.

Answer 21

Prescriptive analytics

Question 22

are algorithms and techniques used to provide personalized suggestions or recommendations to users.

Answer 22

Recommendation engines

Question 23

• Ensure high quality of data; Data Gatekeepers
• Job titles: Data privacy officer, Data security officer, Data governance manager, Data curator, Data librarian

Answer 23

Data Stewards

Question 24

• Extract, clean, transform, and load data from the data sources to centralized data repositories
• Job titles: ETL Developer, Data architect. Data warehousing, Professional Big Data engineer

Answer 24

Data Engineer

Question 25

• Creates analytical models to derive new insights from quantitative and qualitative data; Find trends and patterns.
• Job titles: Statistician, Statistical modeler, Advanced analytics professional

Answer 25

Data Scientist

Question 26

• Help organizations make better decisions on a specific functional domain; Validate the insights derived by the data scientists
• Job titles: Research analysts, Human Resource analysts, Marketing analysts, Financial analysts, Operations analyst

Answer 26

Functional Analyst

Question 27

• Develop and guide data-driven projects; Project management.
• Job titles: Chief data officer, Project manager, Data engineering manager, Data science manager, Analytics Translator

Answer 27

Analytics Manager