Flashcards
SBL1400 Weeks 1-4
Cards in this deck (19)
- 1What are the 4 steps in analyticsData
Information
Insight
Decision - 2What are the 4 aspects used to measure big dataVolume
Variety
Velocity
Veracity - 3What are the 3 categories of business analytics? Give an example of eachDescriptive - helps you understand the state of things (What's going on) - Business Intelligence
Predictive - helps forecast future performance (what is going to happen?) -Data mining, Forecasting
Prescriptive - Suggests a prescribed next step (what should we do?) - Mathematical Programming, Optimisation - 4Steps in the business decision processProblem definition
Analysis plan
Data collection
Analytics
Reporting
Reccomendations - 5Examples of managerial problems-sales are down
-decreased market share
-customer service needs attention
-distributors orders are down - 6Enablers and outcomes of descriptive analytics-Ad hoc reports, dashboards, data warehousing, alerts
-Well defined business problems and opportunities - 7Enablers and outcomes of predictive analytics-data mining, text mining, web/media mining, forecasting
-accurate projections of the future states and conditions - 8Enablers and outcomes of prescriptive analytics-optimisation, simulation, decision modelling, randomised testing
-best possible business decisions and transactions - 9How can data be categorised?-qualitative or quantitative
-internal or external
-structured or unstructured
-new forms of data - 10Quantitative data vs Qualitative dataQuantitative is using actual numbers - hard data
Qualitative is usually looking at intangibles. Far more subjective and is used to understand why people behave in a certain way. - 11What is structured data? Give examplesInformation, usually text files, displayed in titled columns and rows which can easily be ordered and processed by data mining tools.
-pos data, financial data, customer data - 12What is unstructured data? Give examplesThe data that can't easily be slotted into columns, rows or fields.
-photos and graphics
-websites
-videos
-audio
-text files or documents (email, pdf, blogs, social media posts etc.)
-powerpoint - 13Examples of internal data-sales
-marketing
-finance
-HR - 14Examples of external data-weather
-government data
-twitter
-social media
-google maps - 15examples of new forms of data-our activities
-conversations
-sensors
-photos and videos
-the internet of things (IoT) - 16Key formats of data- Text (including numbers)
-Sound (audio and music)
-image (photographs and graphics)
-video (combination of audio and visual)
-Sensor data - 17Common types of analytics-text analytics
-speech analytics
-video/image analytics
-combined analytics - 18Types of text analytics-text categorisation
-text clustering
-concept extraction
-sentiment analysis
-document summarisation - 19Types of video/image analytics-face recognition
-behaviour analytics
-situation awareness
Information
- Description
- - Introduction to Business Analytics (SBL1400 Exam Prep) Flashcards on SBL1400 Weeks 1-4, created by Charlotte Marko on 31/03/2018.
- Created by
- Charlotte Marko
- Views
- 2
- Rating