Question : Which word or phrase completes the statement? Business Intelligence is to monitoring trends as Data Science is to ________ trends. 1. Predicting 2. Discarding 3. Access Mostly Uused Products by 50000+ Subscribers 4. Optimizing
Correct Answer : Get Lastest Questions and Answer : Explanation: Data Science is different than the traditional Business Analytics in some key areas. For example, data science
uses predictive and prescriptive analytics to predict what might happen using probabilities and confidence levels, not just report tools to report on what did happen. Note: when we're dealing with historical data, there is a strong desire and need for the data to be 100% accurate. If you have your financial results wrong for the past quarter, folks are likely to go to jail. However predicting performance for the next quarter is usually measured in probabilities and confidence levels (e.g., "There is a 95% confidence that our revenues will come in next quarter between $200M to $212M). is used for dealing with and mitigating the uncertainty in the data. It uses several analytic and visualization techniques to understand where uncertainty may lay in the data, and then uses data transformation techniques to massage the data into a workable form - not perfect, but again not necessary when dealing with probabilities and not absolutes. is able to create as-needed data transformations (versus the traditional ETL process) to put the data into a format so that it can be combined with other data sources in search in insights about customers, products and operations.
Question : Consider a scale that has five () values that range from "not important" to "very important". Which data classification best describes this data? 1. Nominal 2. Real 3. Access Mostly Uused Products by 50000+ Subscribers 4. Ordinal
Correct Answer : Get Lastest Questions and Answer : Explanation: Ordinal Data: The next level higher of data classification than nominal data. Numerical data where number is assigned to represent a qualitative description similar to nominal data. However, these numbers can be arranged to represent worst to best or vice-versa. Ordinal data is a form of discrete data and should apply nonparametric test to analyze. ratings provided on a FMEA for Severity, Occurrence, and Detection DETECTION 1 = detectable every time 5 = detectable about 50% of the time 10 = not detectable at all (All whole numbers from 1 - 10 represent levels of detection capability that are provided by team, customer, standards, or law)
classifying households as low income, middle-income, and high income Nominal and ordinal data are from imprecise measurements and are referred to as non metric data, sometime referred to as qualitative data. Ordinal data is also round when ranking sports teams, ranking the best cities to live, most popular beaches, and survey questionnaires.
3. Access Mostly Uused Products by 50000+ Subscribers The next higher level of data classification. Numerical data where the data can be arranged in a order and the differences between the values are meaningful but not necessarily a zero point. Interval data can be both continuous and discrete. Zero degrees Fahrenheit does not mean it is the lowest point on the scale, it is just another point on the scale. The lowest appropriate level for the mean is interval data. Parametric AND nonparametric statistical techniques can be used to analyze interval data. Examples in temperature readings, percentage change in performance of machine, and dollar change in price of oil/gallon.
4. Ratio Data: Similar to interval data EXCEPT has a defined absolute zero point and is the highest level of data measurement. Ratio data can be both continuous and discrete. Ratio level data has the highest level of usage and can be analyzed in more ways than the other three types of data. Interval data and ratio data are considered metric data, also called quantitative data.
Question : Which key role for a successful analytic project can provide business domain expertise with a deep understanding of the data and key performance indicators? 1. Business User 2. Project Sponsor 3. Access Mostly Uused Products by 50000+ Subscribers 4. Business Intelligence Analyst 5. None of above
Explanation: Data Science is different than the traditional Business Analytics in some key areas. For example, data science
uses predictive and prescriptive analytics to predict what might happen using probabilities and confidence levels, not just report tools to report on what did happen. Note: when we're dealing with historical data, there is a strong desire and need for the data to be 100% accurate. If you have your financial results wrong for the past quarter, folks are likely to go to jail. However predicting performance for the next quarter is usually measured in probabilities and confidence levels (e.g., "There is a 95% confidence that our revenues will come in next quarter between $200M to $212M). is used for dealing with and mitigating the uncertainty in the data. It uses several analytic and visualization techniques to understand where uncertainty may lay in the data, and then uses data transformation techniques to massage the data into a workable form - not perfect, but again not necessary when dealing with probabilities and not absolutes. is able to create as-needed data transformations (versus the traditional ETL process) to put the data into a format so that it can be combined with other data sources in search in insights about customers, products and operations.
1. The information gain from variable B is already provided by another variable 2. Variable B needs a quadratic transformation due to its relationship to the dependent variable 3. Access Mostly Uused Products by 50000+ Subscribers 4. Variable B needs a logarithmic transformation due to its relationship to the dependent variable