Module 1 Flashcards
(46 cards)
What is data?
A collection of facts.
What is data analysis?
The collection, transformation, and organization of data to draw conclusions, make predictions, and drive informed decision-making.
What does data include?
Numbers, pictures, videos, words, measurements, and observations.
How do we create data? Give two examples.
Using your phone: Every call, text, and app interaction.
Browsing online: Your search history, website visits, and online purchases.
Streaming music: The songs you listen to and playlists you create.
Using credit cards: Every purchase you make adds to a record of data.
Posting on social media: Your posts, likes, and comments all become part of massive datasets.
Using a GPS: Mapping a route or using navigation apps generates location data.
What is data analytics?
The science of data.
What is the data analysis process?
- Ask
- Prepare
- Process
- Analyze
- Share
- Act
Why do businesses need a way to control data?
So they can improve processes, identify opportunities and trends, launch new products, serve customers, and make thoughtful decisions.
Why do companies hire data analysts?
To control the waves of data they collect every day, make sense of it, and then draw conclusions or make predictions.
What is a good way to think about analysis?
Turning data into insights.
After analysts have created insights from data, what happens?
Those insights are shared with others, decisions are made, and businesses take action.
What is people analytics?
The practice of collecting and analyzing data on the people who make up a company’s workforce in order to gain insights to prove how the company operates.
Explain the data analysis process.
Ask: Define the problem or question you’re trying to solve.
Prepare: Gather the data needed from relevant sources.
Process Clean and organize the data to ensure accuracy and usability.
Analyze: Examine the data to uncover trends, patterns, and insights.
Share: Communicate your findings to decision-makers using reports, presentations, or visualizations.
Act: Implement recommendations and solutions based on the data insights.
What is data science?
Creating new ways of modeling and understanding the unknown by using raw data.
What is an ecosystem?
A group of elements that interact with one another.
What is a data ecosystem?
The various elements that interact with one another in order to product, manage, store, organize, and share data.
What does the data ecosystem include?
Hardware, software, and people, and often utilizes cloud-based storage for accessibility.
What is a cloud, and what does it refer to?
A place to keep data online, rather than a computer hard drive.
Instead of storing data somewhere inside your organization’s network, that data is accessed over the internet. It refers to the virtual location.
What is the job of a data analyst?
Their job is to harness the power of that data ecosystem, find the right information, and provide the team with analysis that helps them make smart decisions.
What do data scientists do?
They develop new models and insights with raw data, while data analysts answer existing questions using data sources.
What is data-driven decision-making?
Using facts to guide business strategy.
Give an example of data-driven decision-making.
Streaming services use data to analyze preferences, enabling them to suggest content that aligns with individual tastes and keeps them engaged.
What is the first step in data-driven decision-making?
Figuring out the business ness, the problem that needs to be solved.
What is a data analyst’s role in the process of data-driven decision-making?
They uncover trends and patterns, which can either reinforce existing strategies or guide businesses in entirely new directions.
What is a subject matter expert?
Subject matter experts are individuals who provide valuable context, identify inconsistencies in data, and contribute to well-rounded decision-making.
