Business Analytics Assessment Test- Latest Update- with Approved Correct Answers

What is big data? - Answer-Big data will show you trends and patterns, small data will not What drives big data? - Answer-As the world becomes more digital, we become more connected. Electronic devices are becoming more economical - meaning more people are gaining access to the digital space. Traditional forms of social communications are being replaced with digital ones (Facebook, online newspapers, email). Big data features - Answer-Volume Variety Velocity Veracity Variability Volatility Value Volume - Answer-the amount of data that is collected, stored, shared, etc. (is growing faster than ever before) Variety - Answer-looks at the source and form of data (structured vs. unstructured) Velocity - Answer-the speed at which data is generated and collected/processed Veracity - Answer-the reliability or truthfulness of data (ridding of errors/inaccuracies... separating noise from signal) Variability - Answer-changes in the meaning of data over time or in context or unknown/indistinct type or structure or format Volatility - Answer-the lifespan of the data (how long is it available, how long should it be stored?) - eg. Sales promotions Value - Answer-does it provide benefit to someone? Distributed Computing - Answer-Apache hadoop: different places in the world are processing data... this means sorting the data to give the most relevant result (like searching something on google)