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Google Data Analytics Certificate > Module 2 - Understand the power of data > Flashcards

Module 2 - Understand the power of data Flashcards

1
Q

What is data inspired decision making?

A

Explores different data sources to find out what they have in common

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2
Q

What is an algorithm?

A

A process or set of rules to be followed for a specific task

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3
Q

What are the potential dangers of relying entirely on data-driven decision making?

A
  1. over-reliance on historical data
  2. a tendency to ignore qualitative insights
  3. potential biases in data collection and analysis
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4
Q

Quantitative Data

A

Specific and objective measures of numerical facts

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5
Q

Qualitative Data

A

Subjective or explanatory measures of qualities and characteristics

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6
Q

What are the two main types of data visualizations?

A

Reports and Dashboards

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7
Q

What is a report?

A

Static collection of data given to stakeholders periodically

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8
Q

What is a dashboard?

A

Monitors live, incoming data

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9
Q

Report pros and cons

A

Pros:
1. Designed and sent out periodically
2. High level historical data
3. Easy to design
4. Pre-cleaned and sorted data

Cons:
1. Continual maintenance
2. Less visually appealing
3. Static

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10
Q

Dashboard pros and cons

A

Pros:
1. Dynamic, automatic, and interactive
2. More stakeholder access
3. Low maintenance
4. Nice to look at (visually appealing

Cons:
1. Labor-intensive design
2. Can be confusing
3. Potentially uncleaned data

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11
Q

Pivot table

A

A data summarization tool that is used in data processing. Pivot tables are used to summarize, sort, reorganize, group, count, total , or average data stored in a database

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12
Q

Metric

A

Single, quantifiable type of data that can be used for measurement

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13
Q

Revenue

A

Number of sales x sales price

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14
Q

Return on Investment (ROI)

A

Net profit / Time + Cost of Investment

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15
Q

Customer retention rate

A

Companies ability to keep its customers over time

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16
Q

Metric Goal

A

A measurable goal set by a company and evaluated using metrics

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17
Q

Dashboard Centralization Benefit

A

Data Analysts:
- Share a single source of data with all stakeholders

Stakeholders:
- Work with a comprehensive view of data, initiatives, objectives, projects, processes, and more

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18
Q

Dashboard Visualization Benefit

A

Data Analysts:
- Show and update live, incoming data in real time

Stakeholders:
- Spot changing trends and patterns more quickly

19
Q

Dashboard Insightfulness Benefit

A

Data Analysts:
- Pull relevant information from different datasets

Stakeholders:
- Understand the story behind the numbers to keep track of goals and make data-driven decisions

20
Q

Dashboard Customization Benefit

A

Data Analysts:
- Create custom views dedicated to a specific person, project, or presentation of the data

Stakeholders:
- Drill down to more specific areas of specialized interest or concern

21
Q

What are the four dashboard benefits?

A
  1. Centralization
  2. Visualization
  3. Insightfulness
  4. Customization
22
Q

What are the three most common categories of business dashboards?

A
  1. Strategic: focuses on long term goals and strategies at the highest level of metrics
  2. Operational: short-term performance tracking and intermediate goals
  3. Analytical: consists of the datasets and the mathematics used in these datasets
23
Q

Characteristics of small data

A
  1. Describes a dataset made up of specific metrics over a short, well-defined time period
  2. Usually organized and analyzed in spreadsheets
  3. Likely to be used by small and midsize businesses
  4. Simple to collect, store, manage, sort, and visually represent
  5. Usually already a manageable size for analysis
24
Q

Characteristics of big data

A
  1. Describes large, less-specific datasets that cover a long time period
  2. Usually kept in a database and queried
  3. Likely to be used by large organizations
  4. Takes a lot of effort to collect, store, manage, sort, and visually represent
  5. Usually needs to be broken into smaller pieces in order to be organized and analyzed effectively for decision-making
25
Q

The four Vs of big data

A
  1. Volume - the amount of data
  2. Variety - the different kinds of data
  3. Velocity - how fast the data can be processed
  4. Veracity - the quality and reliability of the data
26
Q

Attribute

A

An attribute is a characteristic or quality of data used to label a column in a table

27
Q

Operator

A

A symbol that names the type of operation or calculation to be performed

Examples: =, +

28
Q

Cell reference

A

A cell or a range of cells in a worksheet that can be used in a formula

29
Q

Range of cells

A

A collection of two or more cells

30
Q

DIV/0 error

A

A formula is trying to divide a value in a cell by 0 or by another empty cell

31
Q

ERROR (in Google Sheets only)

A

A formula can’t be interpreted as input (also known as a parsing error)

32
Q

N/A

A

Data in a formula can’t be found by the spreadsheet

33
Q

NAME?

A

A formula or function name isn’t understood

34
Q

NUM!

A

A formula or function calculation can’t be performed as specified

35
Q

VALUE!

A

A general error that could indicate a problem with a formula or referenced cells

36
Q

REF!

A

A formula is referencing a cell that is no longer valid or has been deleted

37
Q

Function

A

A preset command that automatically performs a specific process or task using the data

38
Q

Problem Domain

A

The specific area of analysis that encompasses every activity affecting of affected by the problem

39
Q

Structured Thinking

A

The process of recognizing the current problem or situation, organizing available information, revealing gaps and opportunities, and identifying the options

40
Q

Scope of work (SOW)

A

An agreed-upon outline of the work you’re going to perform on a project

41
Q

Statement of work (SOW)

A

A document that clearly identifies the products and services a vendor or contractor will provide to an organization. It includes objectives, guidelines, deliverables, schedule, and costs.

42
Q

Context

A

The condition in which something exists or happens

43
Q

Stakeholders

A

People that have invested time, interest, and resources into the projects you’ll be working on as a data analyst

44
Q
A

Google Data Analytics Certificate (8 decks)

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