Module 10 (Lecture 10) Flashcards
(12 cards)
What are 9 benefits of digitalisation?
- Interactivity
- Individualisation/customization
- Intelligence/measurability
- Channel integration
- Independence of location
- Dependence on location
- Accountability
- Testing
- Flexibility
Which 2 forces drive engagement?
Reach (number of followers exposed to content. More followers, means bigger reach)
X
Engagement probability (probability that a follower actually engages, e.g. likes and comments, when they see the post. This decreases when you get more followers)
=
Engagement (number of measurable interactions, e.g. number if likes. Inverted U-shape)
Which type of influencers provide optimal engagement?
Mid-size influencers (100-500k).
What are the 5 V’s of big data?
- High in volume
- large amounts of data that need high storage capacities. - High in variety
- structured (tables); semi-structures; unstructured (photos, videos, binary data). - High in velocity (speed)
- data is produced at high rates. - High in veracity (accuracy)
- data quality, preparation, trust. - High in value
- data has benefits to organization.
What are database management systems?
Software designed to allow the definition, creation, querying, updating, and administration of database.
It manages the data that is stored in one or more databases.
8 Benefits of databases (compared to file-based approaches)?
- Data independence
- Integration and sharing of data
- Consistency of data
- Minimal data redundancy
- Uniform security and integrity controls
- Data accessibility and responsiveness
- Makes building and maintaining software easier
- Keeps data in good shape
What is machine learning?
The field of study interested in the development of computer algorithms for transforming data into intelligent action.
Machine learning lies at the core of …..?
AI and data science.
What are the 5 steps in machine learning?
- Collecting data
- data will serve as the learning material an algorithm uses. - Exploring and preparing data
- requires lot of human intervention. - Training a model on the data
- algorithm will represent the data in the form of a model. - Evaluate model performance
- evaluate the accuracy of a model using a test dataset. - Improving model performance
- maybe switch to different type of model, supplement data with more data.
ChatGPT uses a …?
Neural Network Architecture
Which 2 prediction methods are available in machine learning?
- Econometric approaches, such as logistic regression
- Machine learning-based approaches, such as artificial neural network or tree-based.
What is the difference between AI and machine learning?
AI is the goal, and machine learning is one way to achieve it.
AI = the full system that acts intelligent.
ML = the method that helps it learn.
