MODULE 4

Question 1

“What has happened or what is happening now?”

Answer 1

Descriptive Analytics

Question 2

“Why it happened?”

Answer 2

Diagnostic Analytics

Question 3

“What will likely happen?”

Answer 3

Predictive Analytics

Question 4

“What does the data say will happen?”

Answer 4

Predictive Analytics

Question 5

Predictive Analytics Process

Answer 5

Project Design
Data Sampling
Data Exploration
Data Modification
Model Validation
Model Development
Project Design

Question 6

Project Design Activities

Answer 6

Kickoff meeting
Understand modeling objective
Define acceptance criteria
Document data and deployment requirement

Question 7

Data Sampling Activities

Answer 7

Data extraction
Apply filters and exclusions
Identify external data sources

Question 8

Data Exploration Activities

Answer 8

Exploratory data analysis
Identify data dependencies and correlations
Identify trends or anomalies in the data

Question 9

Data Modification Activities

Answer 9

Data cleaning
Data augmentation and transformation
Feature selection

Question 10

Model Validation

Answer 10

Model performance review
Feedback based on business knowledge and inputs from subject matter experts (SME’s)

Question 11

Model Development

Answer 11

Apply different modeling techniques and select final methodology

Question 12

Project Design Activities (end process)

Answer 12

Best model selection

Question 13

Simple Linear Regression Analysis:

y :
B :
x :
a :
E :

Answer 13

Dependent variable
Beta coefficient
Independent variable
Alpha intercept
Error term