Module 3 Flashcards
__-the process of using current and
historical data to identify trends and relationships.
Descriptive analytics
___ It’s sometimes called the simplest form of data analysis because it describes trends and relationships but doesn’t dig deeper.
Descriptive analytics
is to provide a clear and concise summary of the data, enabling researchers or analysts to gain insights and understand patterns, trends,
and distributions within the dataset.
The primary goal of descriptive analytics
helps organizations monitor key performance indicators (KPIs) identify trends, measure progress, and make data-driven decisions.
Understanding past performanc
__ provides the foundation for making informed decisions
Making informed decisions
___ analyzing data on processes and operations, identify
inefficiencies and find ways to improve them.
Improving efficiency and effectiveness
__ it can be used to create clear and concise reports that are easy to understand and share.
Communication and collaboration
___ is facts and information that come directly
from the company’s systems and are specific to the company
in question.
Internal data
is information that originates from outside the
company and is readily available to the public. External data
is used to help a company develop a better understanding of the world in which they are operating.
External data
__ is a method for retaining the majority of the
dataset’s data and information by substituting missing data
with a different value.
Data imputation
____ is a single value that attempts to describe a set of data by identifying the central position within that set of data.
measure of central tendency
The mean is the sum of the value of each observation
in a dataset divided by also known as the arithmetic the number of observations. This is
average
Mean
The median is the middle value in distribution
when the values are arranged in ascending or descending order.
Median
The mode is the most commonly occurring value in a
distribution.
Mode
in statistics is a way to describe how scattered the data is around an average value. It helps to spread out or understand if the data points are close together or far apart.
Dispersion
__ is defined as the difference between the largest and
the smallest value in the distribution.
Range = Maximum Value - Minimum Value
Range
is defined as the average of the square deviation
from the mean of the given data set
Variance
is the square root of the arithmetic
average of the square of the deviations measured from the
mean.
Standard Deviation
__ describe the overall pattern or distribution of
data points in a dataset. They help to visualize and understand how
data is spread out and whether it’s symmetrical or skewed.
Measures of shape
