Test F

Data mining:

Discovering meaningful correlations, patters, and trends by shifting through large amounts of data stores and repositories.

Ad hoc reports

-              These put users in control so they can create custom reports on an as needed basis by selecting fields, ranges, summary conditions, and other parameters.

 

Data cubes

Special databases used to store data in OLAP reporting.

Affinity grouping

-              This method of analysis identities events or transactions that occur together.

Online analytics processing (OLAP)

-              A method of querying that takes data from relations databases, calculates, and summarizes the data and stores in it a data cube.

Prescriptive analysis

-              This type of business analytic uses data to recommend specific and optimal guidance.

Valpak

: During our lecture, we discussed this company who used historical customer behavior data to boost customer retention

Business analytics best practice

-              Having a defined goal of what needs to be answered.

Four criteria for effective BI

-              Accuracy, timeliness, valuable insight, and actionable.

descriptive, predictive, and prescriptive:

-              These are the three types of business analytics according to our slides.

 

Machine learning

Type of AI often broadly defined as software with the ability to learn without being explicitly programmed.

Supervised learning

-              : An algorithm that uses training data to learn the relationship of given inputs to a given output.

Neural networks

This type of AI examines data and exposes patterns to build models to exploit findings.

Expert systems

Leverages rules or examples to perform a task in a way that mimics applied human expertise

Linear regression

-              Predicts continuous dependent variables from independent variables.

Classification

-              This predicts discrete values such as true/false, spam/not spam, credit worthy/ not credit worthy.

Turing test

-              This tests software’s ability to exhibit behavior equivalent to, or indistinguishable from, a human.

CAPCHA

-              This is a common acronym that stands for "Completely Automated Public Turing test to tell Computers and Humans Apart”

Generative AI

Being implemented to quickly that firms are not thinking enough about cybersecurity, bias, and ethics