BCOR 2205 final

BCOR 2205 final what are the 4 V's of data? Velocity, veracity, volume, variety Velocity the analysis of streaming data as it travels around the internet veracity the uncertainty of data, including biases, noise, and abnormalities; the untrustworthiness of data volume the scale of data variety different forms of structured and unstructured data big data a collection of large, complex data sets, including structure & unstructured data, which cannot be analyzed using traditional database methods and tools data raw facts that describe the characteristics of an event or object (order date, amount sold, customer #) information data converted into a meaningful and useful context (best selling product, best customer, worst selling product, etc.) Business Intelligence information collected from multiple sources that analyzes patterns, trends, and relationships for strategic decision making (best selling product by month compared to sports seasons and city team wins & losses) knowledge the skills, experience, and expertise coupled with information and intelligence that create a person's intellectual resources (choosing not to fire a sales rep who is underperforming, knowing that person is experiencing family problems) regression model a statistical process for estimating the relationships among variables (predicting the winners of a marathon based on gender, hight, weight, hours of training) optimization model a statistical process that finds the way to make a design, system, or decision as effective as possible (choose a combination of projects to maximize overall earnings) forecasting model predictions based on time-series information, allowing users to manipulate the time series for forecasting activities classification analysis assigns records to one of a predefined set of classes estimation analysis determines values for an unknown continuous variable behavior or estimated future value affinity grouping analysis determines which things go together