Data Analysis

Flashcards covering key vocabulary and concepts related to data analysis, business intelligence, and the roles of professionals involved in analytics.

Data Analysis

The process of systematically applying statistical and logical techniques to describe and evaluate data.

Business Intelligence

Technologies and strategies used by enterprises for data analysis of business information.

Knowledge Discovery in Databases (KDD)

A process of identifying valid, novel, potentially useful, and ultimately understandable patterns in data.

Pre-processing

The phase in data preparation that involves cleaning data to improve its quality.

Data Mining

The practice of examining large databases to generate new information and uncover patterns.

Overfitting

A modeling error that occurs when a machine learning algorithm captures noise in the data rather than the intended signal.

Underfitting

A modeling error that occurs when a machine learning algorithm is too simple to capture the underlying trend of the data.

Aggregation

The process of combining multiple pieces of data into a single summary to reduce the dataset size.

Sampling

The process of selecting a representative group from a larger population to analyze in data analysis.

Artificial Intelligence (AI)

The simulation of human intelligence processes by machines, especially computer systems.

Natural Language Processing (NLP)

A subfield of AI that focuses on the interaction between computers and humans through natural language.

Machine Learning

A subset of AI that enables machines to learn from data and improve their performance over time without explicit programming.

Reinforcement Learning

A type of machine learning where an agent learns to make decisions by taking actions in an environment to maximize cumulative reward.

Data Lake

A centralized repository that allows you to store all your structured and unstructured data at any scale.

Data Warehouse

A system used for reporting and data analysis, and is considered a core component of business intelligence.

Statistical Analysis

A component of data analysis that uses statistical methods to make sense of collected data.

Finance Professional

An individual trained in finance who interprets data and works closely with technology and business for analytics.

Evaluation of Findings

The process of reviewing and analyzing results from data mining to derive actionable insights.

Cleaning Data

The process of correcting or removing erroneous data from a dataset.

BI Tools

Software applications that analyze an organization's raw data and present it in a useful format.