IDSC TEST F

topics 11 & 12

Business Analytics

Using data to make better decisions

Data mining

finding patterns in large datasets

Business Intelligence (BI)

tools that turn data into reports, dashboards, and insights

Analytics =? ; BI = ?

1. Decision making

2. tools/reporting

descriptive analytics

is “what happened”

diagnostic analytics

is “why it happened”

Predictive analytics

is “what will happen”

Prescriptive analytics

is “what should we do”

Regression

predicts numbers (salary, price, age), range

Classification

predicts categories (yes/no, spam/not spam)

correlation

relationship between variables

negative correlation

more opposite

positive correlation

move together

AI

machines mimicking human intelligence

machine learning (ML)

systems that learn from data

Deep Learning

advanced ML using layers

Supervised ML

labeled data (answer given) (teacher)

unsupervised ML

no labels, finds patterns

semi supervised

mix of both

unsupervised learning is used for?

market segmentation, customer grouping

Euclidean Distance

measures how close things are, to find similar music reccomendations

BI success Criteria

must be: accurate, timely, actionable, valuable insights

Generative AI

creates: text, images, content

prompt

input you give AI

Hallucination

wrong answer that sounds right

what type of analytics is forecasting

predictive

grouping customers into segments

clustering

Predicting if someone will default on a loan?

Classification

Predicting house price

Regression

AI concern?

Bias, ethics, data misuse