Module 10

Question 1

SMAC

Answer 1

social, mobile, analytics, and cloud

Question 2

examples of advanced data analytics

Answer 2

• unstructured data
  -data mining
  -mote carlo simulation
  -mutivariate statistics
  -AI
  -machine learning

Question 3

Unstructured data

Answer 3

• not organized in column and rows
  -typically in the form of text or image
  -there are tools for converting this type of data into strucutured data

Question 4

data mining

Answer 4

• process for looking for patterns
• rather than testing a hypothesis, that approach is digging for answers
  typically focuses on patterns and outliers

Question 5

simulation and regression

Answer 5

• mote carlo simulation models the probability of different outcomes in a process that cannot be easily predicted due to intervention of random variables
  -produces a distribution of possible outcomes
  -technique used to understand the impact of risk and uncertainty
  -multivariate stats is best understood as “regressions”
• we use regression to predict and infer

Question 6

regression shows:

Answer 6

-which independent variables are more important factors in influencing the dependent varible
-also shows the sign of relaitonship (+/-)
- if Pvalue < .05, then yes