Using Data Analytics to Answer Business Questions
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Vocabulary flashcards covering key concepts related to data analytics and decision-making in business.
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10 Terms
Data Analytics
The process of examining data sets to draw conclusions about the information they contain.
Descriptive Analytics
Analysis that describes past data to understand what has happened.
Diagnostic Analytics
Analysis that examines data to determine why something happened.
Predictive Analytics
Analysis that uses past data to predict future outcomes.
Prescriptive Analytics
Analysis that suggests actions to take based on data.
Time Trend Analysis
A method of evaluating important outcomes over time to assess trends.
Subgroup Analysis
A technique to compare outcomes across different groups.
Data Visualization
The graphical representation of information and data to convey key messages.
Correlation Coefficient
A statistical measure that indicates the extent to which two variables fluctuate together.
Key Performance Indicators (KPIs)
Quantifiable metrics that reflect the critical success factors of an organization.
Note 
Flashcards (42)