Week 1

Question 1

Analytics
Business Analytics
Modeling

Answer 1

1.Analytics
is analyzing or breaking down the data to make decisions.
2.Business Analytics
is using data to make business decisions
3.Modeling
is a function or math function

Question 2

Data Analysis
vs
Data analytics

Answer 2

understanding what happened in the past

using this knowledge to forecast in the future

Question 3

Descriptive analytics

Answer 3

includes statistical analysis of the current data to understand what has happened,
referred to BI
Analysis of the past

Question 4

Inferential analysis

Answer 4

Forecasting the data using the past data or Generalizing the results of a sample to the population

Question 5

Predictive analytics

Answer 5

building models to predict how sales will be next month

Question 6

Prescriptive analytics

Answer 6

using optimization and simulation methods to find out the “

Question 7

Categorical Variables

Answer 7

Nominal
Ordinal
A way to assign numbers to categorical data

Question 8

Numerical

Answer 8

Interval ( can have 0 or not)

Ratio