Components Of analytics

Question 1

What are the 5 components of analytics

Answer 1

Descriptive
Diagnostic
Predictive
Prescriptive
Cognitive

Question 2

What is descriptive analytics?

Answer 2

Describes what happened based on historical data.

Question 3

What is Diagnostic analytics?

Answer 3

Analytics that’s helps answer questions about WHY events happened.

Question 4

In Diagnostic analytics, performance indicators are investigated using what 3 steps?

Answer 4

1. Identify anomalies
2. Collect data related to anomalies.
3. Discover relationships trends to explain anomalies.

Question 5

What is Predictive Analytics?

Answer 5

Analysis that helps explain what will happen.

Question 6

What are some machine learning techniques used for predictive analytics?

Answer 6

1. Neural networks.
2. Decision trees.
3. Regression

Question 7

What is Prescriptive Analytics?

Answer 7

Analytics that describe what actions should be taken to achieve a goal or target.

Question 8

What is Cognitive Analytics?

Answer 8

Analytics that measure what might happen if circumstances change and determine how might handle it.

Question 9

How does cognitive analytics work?

Answer 9

Cognitive analytics draws inferences from existing data patterns, derived from conclusions based on existing knowledge based, then feeds the findings back into the knowledge base for future inferences.

Question 10

What type of analytics can be referred to as a self-learning feedback loop?

Answer 10

Cognitive Analytics.

Question 11

What are the 5 key areas of Data Analytics?

Answer 11

Prepare
Model
Visualize
Analyze
Manage