Using Data Analysis Flashcards
(30 cards)
What are the 6 steps of the data analysis life cycle?
- Ask
- Prepare
- Process
- Analyze
- Share
- Act
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 improve how the company operates.
What are 2 other names for People Analytics?
Human resources analytics or workforce analytics
What is Aggregate data
Data collected from multiple sources and compiled into data summaries or summary reports. Typically for the purpose of public reporting or statistical analysis.
Examples of Aggregated data
Examining trends, making comparisons, or revealing information and insights that would not be observable when data elements are viewed in isolation.
What does it mean to PREPARE data?
Decide how you want to relay your progress to interested parties and Identify what data you need to achieve the successful result.
What does it mean to PROCESS data?
Collect, Store, Clean it to make sure it was complete, correct, relevant, and free of errors and outliers. And then Protect the data.
What is Decision Intelligence?
a combination of applied data science and the social and managerial sciences.
What is Data Science?
creating new ways of modeling and understanding the unknown by using raw data. This is also Data Analytics..
What is the data ecosystem?
elements that interact with one another in order to produce, manage, store, organize, analyze, and share data
What is Data-driven decision-making
using facts to guide business strategy
Questions to ask yourself about a project to help find the perfect balance
- What kind of results are needed?
- Who will be informed?
- Am I answering the question being asked?
- How quickly does a decision need to be made?
Which of the following statements best defines data?
Data is a collection of facts.
What are analytical skills?
The qualities and characteristics associated with solving problems using facts. They are Curiosity, understanding context, and having a technical mindset.
A technical mindset
The analytical skill that involves breaking processes down into smaller steps and working with them in an orderly, logical way
Data design
Analytical skills that involve how you organize information
Understanding context
The analytical skill that has to do with how you group things into categories
Data strategy
The analytical skill involves the management of people, processes, and tools.
What is Visualization in data analytics?
the graphical representation of information. Some examples include graphs, maps, or other design elements.
What does strategizing do for analyst?
helps data analysts see what they want to achieve with the data and how they can get there.
Why do Data Analyst use a problem oriented approach?
to identify, describe, and solve problems.
What is Big picture thinking?
This means being able to see the big picture as well as the details. If you only focus on individual pieces, you wouldn’t be able to see past that, which is why big-picture thinking is so important. It helps you zoom out and see possibilities and opportunities.
What are the 5 aspects of Analytical Thinking?
- Visualization
- Strategy
- Problem - orientation
- Correlation
- Big picture and detail oriented thinking
What is Gap analysis
the process of examining and evaluating how a process works currently in order to get where you want to be in the future. Businesses conduct gap analysis to do all kinds of things, such as improve a product or become more efficient.