Predictive Analytics Ch. 8 And Chap 9
Test Questions and Correct Answers.
What is the job of the data scientist? - Answer To isolate the important patterns in a mass of
data so that a firm can take actions to their benefit.
What does data mining refer to? - Answer The tools and techniques that are used in the
large scale, or big data, arena.
Volume, velocity, variety, and value are all characteristics of _____. - Answer big data
What is the definition of the first big data characteristic of volume? - Answer The size of the
data set.
What is the definition of the second big data characteristic of velocity? - Answer The rate at
which the data arrives.
What is the definition of the third big data characteristic of variety? - Answer The types of
data available.
What is the definition of the fourth big data characteristic of value? - Answer The valuation
of data.
Which of these are characteristics of big data? - Answer Value, Volume, Variety
What is nonrivalry? - Answer No one person's use diminishes the value another person can
extract from the data.
Which of the following is correct regarding how data mining differs from standard business
forecasting? - Answer [1] Business forecasting forecasts seasonality and trends that are
known to exist but data mining looks for those patterns that were not known to exist.
[2] Business forecasting uses specific models to estimate and forecast known patterns but data
mining extracts valuable information from data.
Which of the following are some of the problems forecasters had previously and are currently
having with data? - Answer [1] Previously, forecasters were limited by the lack of data
collected intelligently by businesses.
, [2] Previously, forecasters were limited to few pieces of data and only limited observations on
that data existed.
[3] Today, forecasters are overwhelmed with too much data.
What position has a job description that includes making sense of mounds of data by probing
the data for patterns? - Answer Data scientist
Which of the following are correct when defining the term "data warehouse"? - Answer [1]
Collective information on every aspect of what has happened in the past.
[2] A firm's central repository of integrated historical data.
[3] The "memory" of the firm.
Data has waht characteristics? - Answer [1] Data is used and it creates value.
[2] Data has the property of "nonrivalry".
[3] Data's full value is rarely extracted with its first use.
Which of the following would best describe the characteristic of a "data mart"? - Answer [1]
It holds information that is specialized and has been grouped or chosen specifically.
[2] A subset of a data warehouse.
Which of the following are considered part of the definition of data mining? - Answer [1] The
analysis of databases, data warehouses, and data marts.
[2] Extraction of useful information from large, often unstructured databases.
[3] Extraction of knowledge or information from large amounts of data.
Data mining has come to be referenced by which of the following terms? - Answer [1]
Machine learning
Test Questions and Correct Answers.
What is the job of the data scientist? - Answer To isolate the important patterns in a mass of
data so that a firm can take actions to their benefit.
What does data mining refer to? - Answer The tools and techniques that are used in the
large scale, or big data, arena.
Volume, velocity, variety, and value are all characteristics of _____. - Answer big data
What is the definition of the first big data characteristic of volume? - Answer The size of the
data set.
What is the definition of the second big data characteristic of velocity? - Answer The rate at
which the data arrives.
What is the definition of the third big data characteristic of variety? - Answer The types of
data available.
What is the definition of the fourth big data characteristic of value? - Answer The valuation
of data.
Which of these are characteristics of big data? - Answer Value, Volume, Variety
What is nonrivalry? - Answer No one person's use diminishes the value another person can
extract from the data.
Which of the following is correct regarding how data mining differs from standard business
forecasting? - Answer [1] Business forecasting forecasts seasonality and trends that are
known to exist but data mining looks for those patterns that were not known to exist.
[2] Business forecasting uses specific models to estimate and forecast known patterns but data
mining extracts valuable information from data.
Which of the following are some of the problems forecasters had previously and are currently
having with data? - Answer [1] Previously, forecasters were limited by the lack of data
collected intelligently by businesses.
, [2] Previously, forecasters were limited to few pieces of data and only limited observations on
that data existed.
[3] Today, forecasters are overwhelmed with too much data.
What position has a job description that includes making sense of mounds of data by probing
the data for patterns? - Answer Data scientist
Which of the following are correct when defining the term "data warehouse"? - Answer [1]
Collective information on every aspect of what has happened in the past.
[2] A firm's central repository of integrated historical data.
[3] The "memory" of the firm.
Data has waht characteristics? - Answer [1] Data is used and it creates value.
[2] Data has the property of "nonrivalry".
[3] Data's full value is rarely extracted with its first use.
Which of the following would best describe the characteristic of a "data mart"? - Answer [1]
It holds information that is specialized and has been grouped or chosen specifically.
[2] A subset of a data warehouse.
Which of the following are considered part of the definition of data mining? - Answer [1] The
analysis of databases, data warehouses, and data marts.
[2] Extraction of useful information from large, often unstructured databases.
[3] Extraction of knowledge or information from large amounts of data.
Data mining has come to be referenced by which of the following terms? - Answer [1]
Machine learning
