Foundations: Data, Data, Everywhere

A company defines a problem it wants to solve. Then, a data analyst gathers relevant data, analyzes it, and uses it to draw conclusions. The analyst shares their analysis with subject-matter experts, who validate the findings. Finally, a plan is put into action. What does this scenario describe?

Data-driven decision-making

You have just finished analyzing data for a marketing project. Before moving forward, you share your results with members of the marketing team to see if they might have additional insights into the business problem. What practice does this support?

Data-driven decision-making

in data analytics, a model is a group of elements that interact with one another.

False; In data analytics, a data ecosystem is a group of elements that interact with one another.

A data analyst finishes analyzing data for a marketing project. The results are clear, so they present findings and recommendations to the client. What should they have done before that presentation?

Shared the results with subject-matter experts from the marketing team for their input explanation: Including insights from people who are familiar with the business problem is an example of data-driven decision-making.

Data analyst

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

Dataset

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

Data

A collection of facts.

In data analytics, what term describes a collection of elements that interact with one another?

A data ecosystem

Data science:

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

Select the best description of gut instinct.

An intuitive understanding of something with little or no explanation

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

Data analysis

What do subject-matter experts do to support data-driven decision-making? Select all that apply.

Offer insights into the business problem Review the results of data analysis and identify any inconsistencies Validate the choices made as a result of the data insights

To get the most out of data-driven decision-making, it's important to include insights from people very familiar with the business problem. Identify what these people are called.

Subject-matter experts Explanation: Subject-matter experts are very familiar with the business problem and can look at the results of data analysis to validate the choices being made.

Data analysis

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

Data analytics

The science of data

Data ecosystem

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

What tactics can a data analyst use to effectively blend gut instinct with facts? Select all that apply.

Use their knowledge of how their company works to better understand a business need. Apply their unique past experiences to their current work, while keeping in mind the story the data is telling.

Data-driven decision-making

Using facts to guide business strategy

Fill in the blank: The primary goal of a data _____ is to find answers to existing questions by creating insights from data sources.

analyst explanation: The primary goal of a data analyst is to find answers to existing questions by creating insights from data sources.

Data _____ involves creating new ways of modeling and understanding the unknown by using raw data.

science

Billings Upholstery has defined a problem it needs to solve: Find a more environmentally friendly way to produce its furniture. A data analyst gathers relevant data, analyzes it, and uses it to draw conclusions. The analyst then shares their analysis with subject-matter experts from the manufacturing team, who validate the findings. Finally, a plan is put into action. This scenario describes what process?

Data-driven decision-making Explanation: This company has put data at the heart of its business strategy in order to achieve data-driven decision-making.

You read an interesting article about data analytics in a magazine and want to share some ideas from the article in the discussion forum. In your post, you include the author and a link to the original article. This would be an inappropriate use of the forum.

False

Data analysis is the various elements that interact with one another in order to provide, manage, store, organize, analyze, and share data.

False Data analysis is the collection, transformation, and organization of data in order to draw conclusions, make predictions, and drive informed decision-making.