Prelims - honpritz Flashcards
honpritz (86 cards)
Data encoders, gatherers
Collector
Treat, prepare data
Data engineer
Performs the modeling, testing, and validation
Modeler or Data Scientist
Do the decision making
Business analyst
Data Steward
Collector
Modeler
Data Scientist
It is a multi - disciplinary field that uses scientific method, processes, algorithms, computations, and systems in order to extract understanding and insights from a structured and/or unstructured data.
Data Science
is the mother of invention.
NECESSITY
What era:
REPORT WRITING
Goal: Automation
1970s
What era:
CENTRALIZED SYSTEM
Goal: ERP (Enterprise Resource Planning)/ MIS (Management Info System)
1980s
Goals of the 1980s Centralized system
- Enterprise Resource Planning
- Management Info System
What era:
Business Intelligence
Goal: Apps for everyone
Applications for personal use were invented and made to share (not YET to analyze)
1990s
Goal: Apps for everyone
Applications for personal use were invented and made to share (not YET to analyze)
1990s Business Intelligence
What era:
INTERNET & DATA MINING
2000s
What era:
BIG DATA &
Data Science (used for real-time analysis)
2010
The value in the data haystack is guided by your knowledge of the ____ - not the ___ or ____
domain; tools or techniques
the combination of al skillsets needs to find the value in the data
Analytics
Data under Business Intelligence
- Standard reports (What happened?)
- Ad Hoc, Drill down (Where exactly is the problem?)
- Alerts (What needs attention?)
Data under Predictive analytics
Predictive modeling
“What is the next best action?”
Data under Prescriptive analytics
Optimization
“What is the best thing that can happen?”
Evolution of analytics
Descriptive → Diagnostic → Predictive → Prescriptive → Cognitive
What happened? Describes historical data: Helps understand how things are going
Descriptive
Why did it happen?
Helps understand unique drivers; Segmentation, Statistical, & Sensitivity analysis
Diagnostic
What could happen? Forecast future performance, events a n d results
Predictive