BUAL 2600 Business Analytics Exam 1
(Ch 1-2 8)- Q & A- Latest Version
data warehouses - Answer-where data is stored electronically, in vast digital
repositories
big data - Answer-data sets so large that traditional methods of storage and analysis are
inadequate
transactional data - Answer-data collected for recording the companies' transactions
data mining or predictive analytics - Answer-the process of using transactional data to
make other decisions and predictions
business analytics - Answer-any use of statistical analysis to drive business decisions
from data
all data has a... - Answer-context
data table - Answer-where data is often organized
cases - Answer-rows of a data table correspond to individual cases about whom we
record some characteristics
respondents - Answer-individuals who answer a survey
subjects or participants - Answer-people in an environment
experimental units - Answer-animals, plants, websites, or other inanimate objects
variables - Answer-the characteristics recorded about each individual or cases- the are
usually shown as the columns of a data table and identify what has been measured
metadata - Answer-typically contains information about how, when, and where (and
possibly why) the data were collected; who each case represents; and the definitions of
all the variables
spreadsheet - Answer-where data is typically saved, where the rows represent cases
and the columns represent variables
relational database - Answer-two or more separate data tables are linked together so
that information can be merged across them
, relation - Answer-each data table included in the database is a relation because it is
about a specific set of cases with information about each of these cases for all the
variables
categorical/qualitative variable - Answer-when a variable names categories and
answers questions about how cases fall into those categories
- may only have two possible values (like "yes" or "no")
numbers like a zip code or SSN or student ID #
quantitative variable - Answer-when a variable has measured numerical values with
units and the variable tells us about the quantity of what is measured
- must have units
identifier variable - Answer-a unique identifier assigned to each individual or item in a
group
- SSN, student ID numbers, tracking numbers, etc are all identifier variables for people
or items
- the do not have units
- the are not variables to be analyzed
nominal variables - Answer-categorical variables used only to name categories that
don't have order
ordinal values - Answer-when data values can be ordered
- i.e. employees can be ranked according to the number for months employed
time series - Answer-variables that are measured at regular intervals over time
- i.e. "This Is Us"
cross-sectional data - Answer-when several variables are all measured at the same
time point
- i.e. "New Years Eve" or "Valentines Day"
Variable Types
Example: Credit Card Bank - Answer-account ID - categorical (nominal, identifier)
pre spending - quantitative (units $)
post spending - quantitative (units $)
age - categorical (ordinal)
segment - categorical (nominal)
enroll? - categorical (nominal)
offer - categorical (nominal)
segment spend - quantitative (units $)
this data is cross-sectional (we don't have successive values over time)
(Ch 1-2 8)- Q & A- Latest Version
data warehouses - Answer-where data is stored electronically, in vast digital
repositories
big data - Answer-data sets so large that traditional methods of storage and analysis are
inadequate
transactional data - Answer-data collected for recording the companies' transactions
data mining or predictive analytics - Answer-the process of using transactional data to
make other decisions and predictions
business analytics - Answer-any use of statistical analysis to drive business decisions
from data
all data has a... - Answer-context
data table - Answer-where data is often organized
cases - Answer-rows of a data table correspond to individual cases about whom we
record some characteristics
respondents - Answer-individuals who answer a survey
subjects or participants - Answer-people in an environment
experimental units - Answer-animals, plants, websites, or other inanimate objects
variables - Answer-the characteristics recorded about each individual or cases- the are
usually shown as the columns of a data table and identify what has been measured
metadata - Answer-typically contains information about how, when, and where (and
possibly why) the data were collected; who each case represents; and the definitions of
all the variables
spreadsheet - Answer-where data is typically saved, where the rows represent cases
and the columns represent variables
relational database - Answer-two or more separate data tables are linked together so
that information can be merged across them
, relation - Answer-each data table included in the database is a relation because it is
about a specific set of cases with information about each of these cases for all the
variables
categorical/qualitative variable - Answer-when a variable names categories and
answers questions about how cases fall into those categories
- may only have two possible values (like "yes" or "no")
numbers like a zip code or SSN or student ID #
quantitative variable - Answer-when a variable has measured numerical values with
units and the variable tells us about the quantity of what is measured
- must have units
identifier variable - Answer-a unique identifier assigned to each individual or item in a
group
- SSN, student ID numbers, tracking numbers, etc are all identifier variables for people
or items
- the do not have units
- the are not variables to be analyzed
nominal variables - Answer-categorical variables used only to name categories that
don't have order
ordinal values - Answer-when data values can be ordered
- i.e. employees can be ranked according to the number for months employed
time series - Answer-variables that are measured at regular intervals over time
- i.e. "This Is Us"
cross-sectional data - Answer-when several variables are all measured at the same
time point
- i.e. "New Years Eve" or "Valentines Day"
Variable Types
Example: Credit Card Bank - Answer-account ID - categorical (nominal, identifier)
pre spending - quantitative (units $)
post spending - quantitative (units $)
age - categorical (ordinal)
segment - categorical (nominal)
enroll? - categorical (nominal)
offer - categorical (nominal)
segment spend - quantitative (units $)
this data is cross-sectional (we don't have successive values over time)
