ISDS 2001 Exam 2

Analytics starts with ____
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Terms in this set (177)
Analytics starts with ____
Data
Identifying, accessing, obtaining, and processing of relevant data are the most essential tasks in any ____________
analytical study
_________ are used to prepare data as input to produce both ________ and __________
Statistical methods
descriptive
inferential measures
a collection of facts usually obtained as results of experiences, observations, or experiments
Data
data may consist of ___, ____, _____
numbers
words
images
the lowest level of abstraction
data
source for information and knowledge
data
data _____ and data ________ are critical to analytics
quality
integrity
data quality and data integrity are critical to ________
analytics
What are the two elements of categorial data?
Nominal Data
Ordinal data
the code values for variable "marital status", S-Single, M-Married, D-DivorcedNominal DataThe data field for the variable Credit Score can be generally categorized as 1. low, 2. medium, or 3. highOrdinalWhat are the two forms of numerical data?Ratio data IntervalWhich form of numerical data is commonly found in physical science, such as mass, length, time? values for variable "SALARY" are thisRatio datawhich form of numerical data has scale measurement as temperature on celsius scale where unit of measurement is 1/100 of difference between melting temperature and boiling temperature of water in atmospheric pressure? also there is no absolute zero valueIntervalT or F? the real-world data is dirty, misaligned, overly complex, and inaccurateTrueReadying data for analytics is A.) tedious B.) time-demanding C.) crucial D.) All of the aboveD.) All of the aboveWhat are the four elements of data processing?consolidation, cleansing, transformation, reductionReduce dimension, reduce volume, and balance dataData reductiona collection of mathematical techniques to characterize and interpret datastatisticsdescribing the data as it isdescriptive statisticsdrawing inferences about the population based on sample datainferential statisticsDescriptive ______ for descriptive _______statistics analyticsRegression is a part of ___________ statisticsinferentiala part of inferential statistics, most widely known and used analytics technique in statistics, and used to characterize relationships between explanatory (input) and response (output) variableregressionWhat can regression be used for?Hypothesis testing (explanation) Forecasting (prediction)How do we develop linear regression models?scatter plots (visualization-for simple regression) Ordinary least squares method (line that minimizes squared of the errors)how do we know if model is good enough?R2 (R-Sqaure) p values Error measures (for prediction problems)what do linear regression models suffer from?high restrictive assumptionsWhat happens if regression modeling assumptions do not hold?compromises validity of model then identify violations of the assumptions and use them as techniqueslogistics regression is a ____________________probability based classification algorithmuse of mathematical model to PREDICT FUTURE VALUES of the variable of interest based on previously observed valuesTime Series Forecastingwhat values does time series forecasting predict of the variable of interest on previously observed values?future valuesthe time series models are different than the simple linear regression models in that they are focus on extrapolating on their time varying behavior to ______________________estimate future valuesList the following in chronological order: information (report), action, decision, datadata information (report) decision actionany communication artifact prepared to convey specific information in a presentable formReportwritten document that contains information regarding business mattersbusiness reportwhat is the purpose of a business report?to improve managerial decisionsdata from inside and outside the organization (via use of ETL(extraction transformation and loading of the data)) is the source of what?Business reportlist the following in order for a business report: information generation, decision making, data acquisition, process managementdata acquisition information gathering decision making process managementBusiness functions generate_______,-> ______,-> _________,________ ______ ______->____ to optimize business functionsdata information managerial, fact based decisions actionwhat were the prediction results of the NCAA bowl game outcomes?Classification RegressionWhich type of business report helps manage business reports through metrics (SLA's) for externals; KPIs for internalsmetric management reportsWhich business report is a graphical presentation of several performance indicators in a single page using dials/gaugesDashboard-type reportsWhich business report includes financial indicators and non financial indicators (customer, business process, and learning &growth)?Balanced scorecard-type reportsWhat are the 3 types of business reports?metric management reports Dashboard-type reports balanced scorecard-type reportsThe key to successful business reports is_______, ________, ________, and ______clarity brevity completeness correctnessmanual process of collecting and aggregating financial and other informationTraditional reporting processTraditional reporting may be (flat/complex), (slow/fast) to develop, and (easy/difficult) to apply to specific situationsflat slow difficultT or F? traditional reporting is not used in corporations todayfalsethe most challenging stage of the reporting process in which consolidated figures are cited, formatted, and described to form the final text of the report"last mile"the visual representations to explore, make sense of, and communicate datadata visualizationwhat makes users of BI systems and business analytics better informative consumers?data visualization techniques and toolsdata visualization techniques and tools make the users of business analytics and BI systems __________________better information consumersaggregation, summarization, and contextualization of datainformationwhat is data visualization related to?information graphics, scientific visualization, and statistical graphicsto show donations to United Way giving fund have increased over the past 5 yearsline chartshow last months sales by product line for the four products you sell and show which product line sold the greatest proportion of salespie chartto show relative proportions of majors declared by college students in their sophomore yearspie chartuseful in displaying nominal data or numerical data that splits nicely into different categories so you can quickly see comparative results and trends with your databar chartenhanced variant of a scatter plot because it adds a dimension via the size of the dotbubble charthelpful when illustrating the hierarchy chart of employees in a companyhierarchy charthelpful when a set of data set contains location data, can be used with GIS (geographic info systems)geographic maptypically used together with other charts and graphs as opposed to by themselves, and show postal codes, country names, longitude/latitude, and etcgeographic mapnetwork diagrams, show precedence relationships among the project activities/tasksPERT chartAn example of an interactive and animated _________, is a gap minder chart that shows the wealth and health of nationsbubble chartthe increased demand for ______________ couples with ____________________ led to exponential growth in highly efficient visualization systems investmentvisual analytics fast-growing data volumesWhat were three companies that emerged with data visualization and visual analytics?Tableau spotfire qlikview(MicroStrategy/Visual Insight) improved (MicroStrategy/Visual Insight)MicroStrategy Visual Insight(SAS/SAP) launched visual intelligenceSAP(SAS/SAP) launched visual analyticsSASMicrosoft bolstered (Power view/powerPivot)with (Power view/powerPivot)Power Pivot Power viewIBM launched _______Cognos InsightOracle acquired _____EndecaInformation Visualization + predictive analyticsVisual analytics"descriptive, backward focused" "what happened" "what is happening" is what form of visual analyticsinformation visualizationpredictive, future focused "what will happen" "why will it happen" is what element of visual analyticsPredictive analyticsT or F? there is a weak move towards visual analyticsFalse, strongHow does visualization differ from traditional charts and graphs?complexity of data sets use of multiple dimensions and measurescommonly used in BPM software suits and BI platformsperformance dashboards___________ provide visual displays of important information that is consolidated and arranged on a __________ screen so that information can be digested at a _______________ and _____________________Dashboards single screen single glance easily drilled and further exploredDashboard design- the fundamental _________ of dashboard design is to display all the required information on a _____________, ___________ and ______________, in a manner that can be _________________challenge single screen clearly and without distraction assimilated quicklyWhat are the 3 layers of information of a dashboardMonitoring, analysis, managementwhat layer of information of a dashboard has graphical, abstracted data to monitor key performance metricsmonitoringwhat layer of a dashboard has summarized dimensional data to analyze the root cause of problemsAnalysiswhat layer of a dashboard displays operational data that identify what actions to take to resolve a problemmanagementBI used to be everything related to use of data formanagerial decision supportNow, BI is a part ofbusiness analyticsBI=descriptive analyticsWhat happened? what is happening?DescriptiveBusiness Reporting Dashboards Scorecards Data WarehousingDescriptivewhat are the outcomes of the descriptive side of business analyticswell defined business problems and opportunitieswhat will happen? why will it happen?predictivewhat are the enablers of the predictive side of business analyticsData mining text mining web/media mining forecastingwhat are the outcomes of the predictive side of business analytics?accurate projections of future events and outcomeswhy should i do it?prescriptivewhat are the enablers of the prescriptive side of business analytics?optimization stimulation decision modeling expert systemswhat are the outcomes of the prescriptive side of business analyticsbest possible business decisions and actionsphysical repository where relational data are specifically organized to provide enterprise-wide cleansed data in standardized formdata warehousedata warehouse is a collection of _________,_______-_________ databases designed to support DSS functions, where each unit of data is ____-_____ and relevant to some moment in timeintegrated, subject-oriented non-volatilecharacteristics of DW'ssubject oriented, integrated, time-variant (time series), nonvolatile, summarized, not normalized, metadata, web based, relational/multi-dimensional, client/server, real-time/right-time/activea departmental small-scale "DW" that stores only limited/relevant datadata martwhat are the two types of data marts?independent dependenta subset that is created directly from a warehousedependent data marta small data warehouse designed for a strategic business unit or apartmentindependent data marttype of database often used as an interim area for a DWOperational Data Stores (ODS)operational data martoper martdata warehouse for the enterpriseenterprise data warehouse (EDW)"Data about Data"metadataIn DW, _____ describe the structure and meaning of the data, contributing to their effective useMetadata1. Data acquisition software (back-end) 2. data warehouse that contains the data and software 3. client (front end) software that allows users to access and analyze data from the warehouseThree-tier architecturefirst two tiers in three-tier architecture are combined into first onetwo-tier architecturea web client that connects to a web server, which is in turn connected to a BI application server, is _________________three-tier architecturewill parallel processing and/or partitioning be used?enables a data warehouse to handle complex queries and scale up to handle many more requestsETL=Extract transform loadintegration that comprises three major processes: access, data federation, and change captureData integrationa technology that provides a vehicle for pushing data from source systems into a data warehouseEnterprise application integration (EAI)evolving tool space that promises real-time data integration from a variety of sources, such as relational or multidimensional databases, web services, etcEnterprise information integration (EII)issues affecting the purchase of ETL tool?data transformation tools are expensive data transformation tools may have a long learning curvewhat are the data warehouse development approaches?inmon model kimball modelwhich data warehouse is an EDW approach?Inman modelwhich data warehouse development approach is a data mart approach?Kimball modelwhich data warehouse development approach is top-downinmon modelwhich data warehouse development approach is bottom-up?Kimball modeleither start with (EDW/Data Mart) or end with (EDW/Data mart)EDW EDWwhat is an alternative to data warehouse development approaches?hosted data warehousesbenefits of hosted data warehouseminimal investment in infrastructure, frees up capacity on in-house systems, frees up cash flow, makes powerful solutions more affordable, enables solutions that provide growth, offers better quality equipment and software, provides faster connectionsa retrieval-based system that supports high-volume query accessdimensional modelingwhat is the most commonly used and simplest style of dimensional modeling?Star schema_______ contain a fact table surrounded by and connected to several dimension tablesstar schemaStar schema- the _________________ and the _______ of dimension modelingmost commonly used simplest stylestar schema contain a ________ surrounded by and connected to several __________fact table dimension tablesthe ability to organize, present, and analyze data by several dimensions, such as scales by region, by product, by salesperson, and by time (four dimensions)Multidimensionalitywhat are the three elements of multidimensional presentation?Dimensions measures timethe part of multidimensional presentation that consists of products, salespeople, market segments, business units, geographic locations, distribution channels, country or industrydimensionspart of multidimensional presentation that consists of money, sales volume, head count, inventory profit, actual vs forecastmeasuresthe part of multidimensional presentation that consists of daily, weekly, monthly, quarterly, or yearlytimecapturing and storing data from ERP, CRM, POSOLTPday-to-day business transactionsOLTPmain focus is on efficiency of routine tasksOLTPconverting data into information for decision supportOLAPdata cubes, drill down/roll up, slice & diceOLAPrequesting ad hoc reportsOLAPconducting statistical and other analysesOLAPDeveloping multimedia-based applicationsOLAPOLAP- a subset of multidimensional arraysliceOLAP- a slice on more than 2 dimensionsdiceOLAP- navigating among levels of data from the most summarized (up) to the most detailed (down)Drill down/upOLAP- computing all of the data relationships for one or more dimensionsroll upOLAP- ised to change the dimension orientation of a report or an ad hoc query-page displaypivotqueries and other data-access functions will grow linearly with the size of the warehousegood scalabilityDWA should be ________ and have the knowledge of high performance software, hardware, and networking ________technical technologiesDWA should posses solid __________________________business knowledge and insightDWA should be familiar with the ____________________ so as the suitability design/maintain the data warehouse structuredecision making processwhat are the pressing issues in DW regarding security and privacysafeguarding of most valuable assets, government regulations, must be explicitly planned and executed________ and ______ is a pressing issue in DWsecurity privacyunstructured data storage technology for big datadata lakesreal-time system that alerts managers to potential opportunities , impending problems, and threats, and then empowers them to react through models and collaborationBusiness performance managementrefers to business processes, methodologies, metrics, and technology used by enterprises to measure, monitor and manage business performanceBusiness performance managementwhat are the three cwhat are the process steps to a closed-loopstrategize plan monitor/analyze act/adjustplan that translates an organizations strategic objectives and goals into a set of well-defined tactics and initiatives, resource requirements, and expected results for some future time period (usually a year)Operational planoperational planning can be ______ and _______tactic centric budget centricmonitor/analyze- a comprehensive framework for monitoring performance should address two key issues:what to monitor? how to monitor?act and adjust- depends on new projects: creating new products, entering new markets, acquiring new customers (or business), or streamlining some processsuccess (mere survival)a system that assists managers in tracking the implementations of business strategy by comparing actual results against strategic goals and objectivesperformance measurement systemperformance measurement compares _______ results against ______ resultsactual strategiccomprises systematic comparative methods that indicate progress (lack of thereof) against goalsperformance measurement systemstrategic objective and metrics that measure performance against a goalKey performance indicator (KPI)what are the distinguishing features of KPI'sstrategy, targets, ranges, encodings, time frames, benchmarkslagging indicators (revenues)Outcome KPIleading indicators (sales leads)driver KPIswhat are the operational areas covered by KPI'scustomer performance, service performance, sales operations, sales plan/forecasta performance measurement and management methodology that helps translate an organizations financial, customer, internal process, and learning and growth objectives and targets into a set of actionable initiativesBalanced scorecardbalanced scored card- a performance measurement and management methodology that helps -------- an organizations -----------, and ---------- and targets into a set of -------initiativestranslate financial customer internal process learning and growth actionablea performance management methodology aimed at reducing the number of defects in a business process to as close to zero defects per million opportunities (DPMO) as possibleSix sigmaa closed-loop business improvement model that encompasses the steps of defining, measuring, analyzing, improving, and controlling a processDMAIC performance model