Exam 8: Understanding Big Data and Its Impact on Business

What is data mining?

Regression is a prediction based on time-series information.

What is text analytics?

Classification segments a heterogeneous population of more homogeneous subgroups.

The four common characteristics of big data are variety, veracity, volume, velocity.

Advanced analytics focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization.

What segments a heterogeneous population of more homogeneous subgroups?

What is a common association detection analysis technique for analyzing certain items to detect customers' buying behavior and predict future behavior?

Affinity grouping analysis determines the relationship between variables and frequency of the relationship.

Time-series information is time-stamped information collected at a particular frequency.

What processes and manages algorithms across many machines in a computing environment?

What occurs when the user goes into an emotional state of over-analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome?

What is optimization?

What analyzes unstructured data to find trends and patterns in words and sentences?

What is the process of analyzing data to extract information not offered by the raw data alone?

What is an example of using cluster analysis in business to create target-marketing strategies?

What is a collection of large, complex data sets, including structured and unstructured data, that cannot be analyzed using traditional database methods and tools?

What processes and manages algorithms across many machines in a computing environment?

What analyzes unstructured data associated with websites to identify consumer behavior and website navigation?

Analysis paralysis occurs when the user goes into an emotional state of over-analyzing (or overthinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome.