BUAL-5660 Exam 1 Questions And Answers 100% Correct Verified Guaranteed Answers.

Inductive vs Deductive reasoning - correct answer 1. data - pattern - insights/new relationship - discovery/theory vs. 2. theory - hypotheses - observation - confirmation Data types - correct answer -Relational Data (Tables/Transaction/Legacy Data) -Text Data (Web) -Semi-structured Data (XML) Ex: tweets -Graph Data -Social Network, Semantic Web (RDF), -Video -Streaming Data: you can only scan the data once Observation: New sources of data are from outside the organization Descriptive, Predictive, and Prescriptive - correct answer Types of analytics Descriptive analytics - correct answer Questions: -What happened? -What is happening? Enablers: -Business reporting -Dashboards -Scorecards -Data warehousing Outcomes: -Well-defined business problems and opportunities Predictive analytics - correct answer Questions: -What will happen? -Why will is happen? Enablers: -Data mining -Forecasting -Predictions using text analysis -Web/media mining -Market Basket Analysis Outcomes: -Accurate projections of future events and outcomes Prescriptive analytics - correct answer Questions: -What should I do? -Why should I do it? Enablers: -Optimization -Simulation -Expert Systems Outcomes: -Best possible business decision and actions CRISP-DM - correct answer most comprehensive, common, and standardized data mining process Sample, Explore, Modify, Model, and Assess - correct answer SEMMA Volume, Velocity, and Variety - correct answer 3 V's of big data/Big Data definition Big Data Applications - correct answer -Visualizations -Network Analysis -Text analysis -Deep learning Developing Exploratory Questions - correct answer -You have to develop questions by yourself to create visualizations and choosing the type of visualizations -First, write some questions you want to explore -E.g. Let me see how profit changed across years for different types of containers????? -Based on your project....... -Then present it like a story; annotate yourself; show what you want others to see Importance of Storytelling - correct answer "Without storytelling, data offers just a rear-view mirror," said Clive Humby, cofounder of customer science company Dunnhumby. Scatterplot, Lines, Heat Maps - correct answer Types of visualizations Nominal - correct answer used only to classify or categorize -No ordering of the cases is implied. Examples: -Profession (doctor, lawyer...) -Sex (male, female) -Eye color (blue, brown, green...) -Lowest level of measurement Ordinal - correct answer ranking or ordering Examples: -Ranking mutual funds by risk -50 most-admired companies Nominal and ordinal data are nonmetric data or qualitative data because their measurements are imprecise. Interval - correct answer numerical data in which the distances between consecutive numbers have meaning. -has equal distances between numbers on scale. Example: -Fahrenheit temperature scale -Time on a 12-hr clock -The zero point is a matter of convenience or convention. -A temperature of O⁰ does not mean that there is no temperature. Ratio - correct answer numerical data in which the distances between consecutive numbers have meaning and the zero value represents the absence of the characteristic being studied. Examples: -Volume -Weight -Kelvin temperature Highest level of data measurement Interval and ratio data are called metric or quantitative data. Constant Demand - correct answer Linear Demand - correct answer Cyclic Demand - correct answer Seasonal Demand - correct answer Abnormal Demand - correct answer Error=Actual-Forecast - correct answer Forecast accuracy should be an important forecasting technique selection criterion Mean Absolute Deviation - correct answer E | Actual - Forecast | / n weights all errors evenly Mean Squared Error - correct answer E (Actual - Forecast)^2 / n-1 weights errors according to their squared values Mean Absolute Percent Error - correct answer (E(| Actual - Forecast | / Actual)*100) / n weights errors according to relative error Moving Average, Weighted Moving Average, and Exponential Smoothing - correct answer Forecast Techniques Directed Network - correct answer Phone call/email Links are arrows, not lines