Data-Driven Decisions

Data-inspired decision-making deals with exploring different data sources to discover _____.

What the data has in common

Key skills for triumphant results

* your skills and knowledge will be the most important part of any analysis project * ask questions * experiment with many different possibilities * use both logic and creativity

In data analytics, how are dashboards different from reports?

Dashboards monitor live, incoming data from multiple datasets and organize the information into one central location. Reports are static collections of data.

Return on Investment (ROI) uses which of the following metrics in its definition?

Profit and investment

Which of the following is an example of small data?

The number of steps someone walks in a day

If someone is subjectively describing their feelings or emotions, it is qualitative data.

True

If a data analyst is measuring qualities and characteristics, they are considering _____ data.

qualitative

Describe the key differences between small data and big data. Select all that apply.

Small data focuses on short, well-defined time periods. Big data focuses on change over a long period of time. Small data is effective for analyzing day-to-day decisions. Big data is effective for analyzing more substantial decisions. Small data involves datasets concerned with a small number of specific metrics. Big data involves datasets that are larger and less specific.

In data analytics, dashboards monitor data that is a continuous source of incoming information. Which of the following terms describes this type of data? 1 / 1 point

live

Return on investment compares the cost of an investment to the _____ of that investment.

net profit

A _____ is a data-summarization tool used to sort, reorganize, group, count, total, or average data.

pivot table

the goal of all data analysts

to use data to draw accurate conclusions and make good recommendations. That all starts with having complete, correct, and relevant data its possible to have solid data and still make the wrong choices. It us up to data analysts to interpret the data accurately.

Which of the following examples describes using data to achieve business results? Select all that apply.

A large retailer performs data analysis on product purchases to create better promotions. A video streaming service analyzes user preferences to customize movie recommendations.

A metric is a specific type of data that companies use to identify a problem domain.

False

Fill in the blank: Pivot tables in data processing tools are used to _____ data

summarize

qualitative data tools

* focus groups * social media text analysis * in-persion interviews

Quantitative data tools

* structured interviews * surveys * polls

Describe the difference between data and metrics.

Data is a collection of facts. Metrics are quantifiable data types used for measurement.

The amount of exercise time it takes for a single person to burn a minimum of 400 calories is a problem that requires big data.

False

Which of the following options describes a metric goal? Select all that apply.

Measurable Evaluated using metrics

What is the difference between qualitative and quantitative data?

Qualitative data can be used to measure qualities and characteristics. Quantitative data can be used to measure numerical facts.

Fill in the blank: In data analytics, a process or set of rules to be followed for a specific task is _____.

an algorithm

A data analyst is using data to address a large-scale problem. This type of analysis would most likely require _____. Select all that apply.

data that reflects change over time big data