Untitled Flashcards Set

What is data analytics?

The collection and analysis of data to find patterns and draw conclusions.

How can artificial intelligence enhance data analytics?

By using machine learning to build models based on initial data that can improve predictions as more data is collected.

What is machine learning in the context of data analytics?

An approach where a program learns from additional data by adjusting its model to improve predictions.

What is one significant benefit of big data for organizations?

It enhances decision-making by providing better business insights.

How can data analytics help with organizational strategy?

By simulating different scenarios rapidly and cheaply to determine optimal markets and growth strategies.

What does big data analysis reveal about customer preferences?

It allows organizations to tailor offers to customer habits and needs.

What is social listening?

The analysis of social media posts to understand public opinions about an organization.

How can a business address customer dissatisfaction proactively?

By analyzing social media data to identify early signals of dissatisfaction related to specific products.

What is Gnip?

A service that collects and analyzes data from social media to gain insights about customer opinions.

What are the sources of data that can be combined to spot trends?

Visitor website numbers, customer surveys, social media posts, economic climate data, and competition data.