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What is descriptive analytics?

Analyzing historical data to understand what happened using summaries, trends, and patterns.

What is predictive analytics?

Using historical data and statistical models to forecast future outcomes.

What is prescriptive analytics?

Using data to recommend actions or decisions based on predictions.

What is inferential statistics?

Using sample data to make conclusions or predictions about a larger population.

What is a measure of central tendency?

Statistical measures that describe the center of a dataset (mean, median, mode).

What is mean?

The average value of a dataset calculated by summing values and dividing by count.

What is median?

The middle value of a dataset when sorted in order.

What is mode?

The most frequently occurring value in a dataset.

What is a measure of dispersion?

Statistical measures that describe how spread out data is (range, variance, standard deviation).

What is range?

Difference between the highest and lowest values in a dataset.

What is variance?

Measure of how far each data point is from the mean on average.

What is standard deviation?

Measure of how spread out values are around the mean.

What is a KPI?

Key Performance Indicator used to measure business success or performance.

What is data interpretation?

Converting raw data into meaningful insights for decision-making.

What is data-driven decision making?

Using data analysis rather than intuition to guide business decisions.

What is a correlation?

A statistical relationship between two variables (positive, negative, or none).

What is positive correlation?

When one variable increases, the other also increases.

What is negative correlation?

When one variable increases, the other decreases.

What is no correlation?

No relationship exists between two variables.

What is a hypothesis in data analysis?

A testable statement used to evaluate a possible relationship or outcome.

What is hypothesis testing?

A statistical method to determine if results are significant or due to chance.

What is statistical significance?

The likelihood that a result is not due to random variation.

What is a p-value?

Probability of obtaining results at least as extreme as observed, assuming the null hypothesis is true.

What is a null hypothesis?

A statement that assumes no effect or relationship exists.

What is an alternative hypothesis?

A statement that assumes there is an effect or relationship.

What is a sample?

A subset of a population used for analysis.

What is a population in statistics?

The entire group being studied.

What is sampling bias?

When a sample is not representative of the population.

What is data aggregation?

Combining data into summary form (sum, average, count, etc.).

What is data normalization?

Adjusting values to a common scale without distorting differences.

What is data transformation?

Converting data into a usable format for analysis.

What is a regression model?

A statistical method used to predict relationships between variables.

What is simple linear regression?

A model that predicts a dependent variable using one independent variable.

What is multivariate analysis?

Analysis involving multiple variables at the same time.

What is a time series analysis?

Analyzing data points collected over time to identify trends or patterns.

What is seasonality in data?

Repeating patterns or cycles in data over time.

What is data segmentation?

Dividing data into groups based on shared characteristics.

What is clustering?

Grouping similar data points together without predefined labels.

What is anomaly detection?

Identifying unusual or outlier data points that do not match expected patterns.

What is data mining?

Discovering patterns and relationships in large datasets.

What is a confidence interval?

A range of values that is likely to contain the true population parameter.

What is margin of error?

The amount of allowable error in a survey or estimate.

What is a dashboard?

A visual interface displaying key metrics and KPIs.

What is data storytelling?

Communicating insights using narrative and visualization.

What is data interpretation bias?

When analysis is influenced by subjective judgment or assumptions.