Business Analytics, Jeffrey D. Camm - Chapter 1-4
Descriptive analytics
Encompasses the set of techniques that describes what has happened in the past
Data query
A request for information with certain characteristics from a database
Data dashboards
Collections of tables, charts, maps, and summary statistics that are updated as new data
become available
Predictive analytics
Consists of techniques that use models constructed from past data to predict the future or
ascertain the impact of one variable on another.
Optimization models
Models that give the best decision subject to constraints of the situation
Simulation optimization
Combines the use of probability and statistics to model uncertainty with optimization
techniques to find good decisions in highly complex and highly uncertain
Decision analysis
Used to develop an optimal strategy when a decision maker is faced with several decision
alternatives and an uncertain set of future events
Big data
A set of data that cannot be managed, processed, or analyzed with commonly available
software in a reasonable amount of time
Hadoop
An open-source programming environment that supports big data processing through
distributed storage and processing over multiple computers
MapReduce
, A programming model used within Hadoop that performs two major steps: the map step
and the reduce step
Data security
The protection of stored data from destructive forces or unauthorized users
Data
The facts and figures collected, analyzed, and summarized for presentation and
interpretation
Variable
A characteristic or a quantity of interest that can take on different values
Observation
Set of values corresponding to a set of variables
Variation
The difference in a variable measured over observations
Random variable/uncertain variable
A quantity whose values are not known with certainty.
Population
All elements of interest
Sample
Subset of the population
Random sampling
A sampling method to gather a representative sample of the population data
Quantitative data
Data on which numeric and arithmetic operations, such as addition, subtraction,
multiplication, and division, can be performed
Categorical data
Descriptive analytics
Encompasses the set of techniques that describes what has happened in the past
Data query
A request for information with certain characteristics from a database
Data dashboards
Collections of tables, charts, maps, and summary statistics that are updated as new data
become available
Predictive analytics
Consists of techniques that use models constructed from past data to predict the future or
ascertain the impact of one variable on another.
Optimization models
Models that give the best decision subject to constraints of the situation
Simulation optimization
Combines the use of probability and statistics to model uncertainty with optimization
techniques to find good decisions in highly complex and highly uncertain
Decision analysis
Used to develop an optimal strategy when a decision maker is faced with several decision
alternatives and an uncertain set of future events
Big data
A set of data that cannot be managed, processed, or analyzed with commonly available
software in a reasonable amount of time
Hadoop
An open-source programming environment that supports big data processing through
distributed storage and processing over multiple computers
MapReduce
, A programming model used within Hadoop that performs two major steps: the map step
and the reduce step
Data security
The protection of stored data from destructive forces or unauthorized users
Data
The facts and figures collected, analyzed, and summarized for presentation and
interpretation
Variable
A characteristic or a quantity of interest that can take on different values
Observation
Set of values corresponding to a set of variables
Variation
The difference in a variable measured over observations
Random variable/uncertain variable
A quantity whose values are not known with certainty.
Population
All elements of interest
Sample
Subset of the population
Random sampling
A sampling method to gather a representative sample of the population data
Quantitative data
Data on which numeric and arithmetic operations, such as addition, subtraction,
multiplication, and division, can be performed
Categorical data
