IDSC 3001 STUDY GUIDE for 11&12

What is data mining?

Discovering meaningful correlations, patterns, and trends by sifting through large amounts of data stores and repositories.

What are ad hoc reporting tools?

Tools that put users in control to create custom reports on an as-needed basis by selecting fields, ranges, summary conditions, and other parameters.

What is a data cube?

A special database used to store data in OLAP reporting.

What is market basket analysis?

A method of analysis that identifies events or transactions that occur together.

What does OLAP stand for and what is it?

OLAP stands for online analytical processing, a method of querying that takes data from relational databases, calculates and summarizes it, and stores it in a data cube.

What is diagnostic analysis in business analytics?

A type of analytics that uses data to explain why trends or events occurred.

What is Valpack known for?

A company that used historical customer behavior data to reduce customer churn.

What are business analytics best practices?

Having a defined goal of what needs to be answered.

What are the 4 major criteria for effective BI?

Timeliness, accuracy, valuable insights, and actionable.

What three skills are critical in recruiting for data mining and business analytics?

Statistics, business acumen, and IT.

What is machine learning?

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

What is generic AI?

An autonomous system that can break down complex problems and take actions.

What is supervised learning?

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

What are neural networks and deep learning?

Types of AI that examine data to expose patterns and build models to exploit findings.

What is a genetic algorithm?

Model building techniques where computers examine many potential solutions, iteratively modifying various mathematical models for the best alternative function.

What does regression predict?

Predicts continuous values such as age, price, salary, etc., based on a second parameter.

What does classification predict?

Predicts discrete values such as true/false, spam/not spam, credit worthy/not credit worthy.

What is the Turing test?

A test of a software's ability to exhibit behavior equivalent to that of a human.

What is CAPTCHA?

A common acronym for public Turing tests to distinguish bots from humans.

What are concerns about artificial intelligence?

Concerns include rapid implementation without sufficient consideration for cybersecurity, bias, and ethics.