BCOR 2205 TEST 1 REVIEW QUESTIONS WITH 100% VERIFIED SOLUTIONS

BCOR 2205 TEST 1 REVIEW QUESTIONS WITH 100% VERIFIED
SOLUTIONS


Data -- Answer ✔✔ Raw facts that describe the characteristics of an event or object.
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Information -- Answer ✔✔ Data converted into a meaningful and useful context.
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I.E. Best selling product, best customer
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Business Intelligence -- Answer ✔✔ Information collected from multiple sources that
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analyze patterns, trends, and relationships for strategic goals and decision making
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I.E. Lowest sales per week, best-selling product by month.
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Knowledge -- Answer ✔✔ The skills, experience, and expertise, coupled with information
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and intelligence, that create a person's intellectual resources.
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I.E. Choosing not to fire a sales rep who is underperforming.
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Big Data -- Answer ✔✔ A collection of large, complex data sets, including structured and
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unstructured data, which cannot be analyzed using traditional database methods and tools.
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Volume -- Answer ✔✔ Scale of data. Includes enormous volumes of data generated daily.
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Velocity -- Answer ✔✔ Analysis of streaming data.
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Variety -- Answer ✔✔ Different forms of structured or unstructured data. Data from
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spreadsheets, email, video, etc.
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Veracity -- Answer ✔✔ Uncertainty of data, including biases, noise, and abnormalities.
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Uncertainty or untrustworthiness of data.
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, Analytics -- Answer ✔✔ The science of fact-based decision making.
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Business Analytics -- Answer ✔✔ The scientific process of transforming data into insight for
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making better decisions.
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Data Mining -- Answer ✔✔ The process of analyzing data to extract information onto
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offered by the raw data alone.
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Estimation Analysis -- Answer ✔✔ Determines values for unknown continuous variable
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behavior or estimated future value.
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Affinity Grouping Analysis -- Answer ✔✔ Reveals the relationship between variables along
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with the nature and frequency of relationships
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Cluster Analysis -- Answer ✔✔ a technique used to divide an information set into mutually
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exclusive groups such that the members of each group are as close together as possible to
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one another and the different groups are as far apart as possible.
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Classification Analysis -- Answer ✔✔ The process of organizing data into categories or
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groups for its most effective and efficient use
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Optimization Model -- Answer ✔✔ A statistical process that finds the way to make a design,
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system, or decision as effective as possible.
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Forecasting Model -- Answer ✔✔ Time-series information is time-stamped information
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collected at a particular frequency. Forecasts are predictions based on time-series
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information allowing users to manipulate the time series for forecasting activities.
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Regression Model -- Answer ✔✔ A statistical process for estimating the relationships
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among variables.
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Content Sharing Through Open Sourcing -- Answer ✔✔ Nonproprietary hardware and
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software based on publicly known standards that allows third parties to create add-on
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products to plug into or interoperate with the system.
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