W01 Introduction

Question 1

Types of Analytics (3)

Answer 1

descriptive
(exploratory, clustering, statistics, visualization)
predictive
(scenarios, forecasts, classification, regression, inductive statistics)
prescriptive
(optimization, heuristics)

Question 2

Prescriptive Analytics

Answer 2

Evaluate and determine new ways to operate.

Question 3

Data Analysis, 3 types

Answer 3

1 descriptive
  -statistics
  -visualization
2 model driven
  -inductive
  -parametrize model
3 data driven
  -exploratory, data mining

best to combine model driven and data driven !!

Question 4

Optimization can be (considering robustness)

Answer 4

• deterministic (not robust) best for solution for single paramter set (good if known)
• robust, considering a number of possible paramter sets (scenarios) finds compromise for all. Good for uncertainty, even better for risk (known probabilities)

Question 5

Success factors of teams

Answer 5

small
complementary
clear joint objective
same work and tools
accountability