Foundations: Data, Data everywhere - Module 1

Question 1

Analytical skills

Answer 1

Qualities and characteristics associated with using facts to solve problems

Question 2

Analytical thinking

Answer 2

The process of identifying and defining a problem, then solving it by using data in an organized, step-by-step manner

Question 3

Business Task

Answer 3

The question or problem data analysis resolves for a business

Question 4

Context

Answer 4

The condition in which something exists or happens

Question 5

Data

Answer 5

A collection of facts

Question 6

Data analysis

Answer 6

The collection, transformation, and organization of data in order to draw conclusions, make predictions, and drive informed decision-making

Question 7

Data analyst

Answer 7

Someone who collects, transforms, and organizes data in order to draw conclusions, make predictions, and drive informed decision-making

Question 8

Data analytics

Answer 8

The science of data

Question 9

Data design

Answer 9

How information is organized

Question 10

Data-driven decision-making

Answer 10

Using facts to guide business strategy

Question 11

Data ecosystem

Answer 11

The various elements that interact with one another in order to produce, manage, store, organize, analyze, and share data

Question 12

Data science

Answer 12

A field of study that uses raw data to create new ways of modeling and understanding the unknown

Question 13

Data strategy

Answer 13

The management of the people, processes, and tools used in data analysis

Question 14

Data visualisation

Answer 14

The graphical representation of data

Question 15

Database

Answer 15

A collection of data stored in a computer system

Question 16

Dataset

Answer 16

A collection of data that can be manipulated or analyzed as one unit

Question 17

Fairness

Answer 17

A quality of data analysis that does not create or reinforce bias

Question 18

Formula

Answer 18

A set of instructions used to perform a calculation using the data in a spreadsheet

Question 19

Function

Answer 19

A preset command that automatically performs a specified process or task using the data in a spreadsheet

Question 20

Gap analysis

Answer 20

A method for examining and evaluating the current state of a process in order to identify opportunities for improvement in the future

Question 21

Oversampling

Answer 21

The process of increasing the sample size of nondominant groups in a population. This can help you better represent them and address imbalanced datasets

Question 22

Query

Answer 22

A request for data or information from a database

Question 23

Query language

Answer 23

A computer programming language used to communicate with a database

Question 24

Root cause

Answer 24

The reason why a problem occurs

Question 25

Self-reporting

Answer 25

A data collection technique where participants provide information about themselves

Question 26

Stakeholders

Answer 26

People who invest time and resources into a project and are interested in its outcome

Question 27

Structured Query Language (SQL)

Answer 27

A computer programming language used to communicate with a database

Question 28

Spreadsheet

Answer 28

A digital worksheet

Question 29

Technical mindset

Answer 29

The ability to break things down into smaller steps or pieces and work with them in an orderly and logical way

Question 30

People analytics

Answer 30

also known as human resources analytics or workforce analytics. People analytics is the practice of collecting and analyzing data on the people who make up a company’s workforce in order to gain insights to improve how the company operates.

Question 31

What are the 6 steps in the data analysis process

Answer 31

1. Ask 2. Prepare 3.Process 4. Analyse 5. Share 6. Act

Question 32

Decision intelligence

Answer 32

A combination of applied data science and the social and managerial sciences.

Question 33

What three disciplines does data science cover

Answer 33

1. Machine learning and AI 2. Statistics 3. Analytics

Question 34

Gut instinct

Answer 34

is an intuitive understanding of something with little or no explanation. This isn’t always something conscious; we often pick up on signals without even realizing. You just have a “feeling” it’s right.

Question 35

What are the five analytical skills

Answer 35

1. Curiosity 2. Understanding context 3. Having a technical mindset 4. Data design 5. Data strategy

Question 36

Curiosity

Answer 36

* Wanting to learn something * Seeking out new challenges and experiences * This leads to knowledge

Question 37

What are the five steps to analytical thinking

Answer 37

1. Visualisation 2. Strategy 3. Problem-orientation 4. Correlation 5. Big picture and detail oriented thinking

Question 38

Problem-oriented

Answer 38

* Approach used to identify, describe and solve problems * Analysts ask a lot of questions - helps improve communication + save time e.g surveying customers about their experiences using a product and building insights from those questions to improve their product.

Question 39

Correlation

Answer 39

* Correlation is a relationship between two or more variables * CORRELATION DOES NOT EQUAL CAUSATION

Question 40

Big picture and detail oriented thinking

Answer 40

* Big picture- helps you zoom out and see possibilities and opportunities Leads to new ideas or innovation * Detail - figuring out all of the aspects that will help you execute a plan

Question 41

How to find the root cause of a problem

Answer 41

It involves asking "Why?" repeatedly until the answer reveals itself. This often happens at the fifth “why,” but sometimes you’ll need to continue asking more times, sometimes fewer.