BA 03 - CIA REVIEW - BUSINESS ACUMEN - DATA ANALYTICS

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Last updated 4:07 AM on 6/19/26
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19 Terms

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Big Data

Vast amounts of data collected from various sources, subjective to the size and complexity of an organization.

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Data Life Cycle

The process involving Discover (preparation, exploration, modeling) and Deploy (implementation, action, evaluation) phases.

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Data

The collection and generation of information for processing.

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Analytics

The process of cleansing, normalizing, aggregating, extracting, and analyzing data.

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Data Owner

A person or department responsible for safeguarding data and defining access rules.

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Data Steward

A person or department managing specific data resources and standardizing data assets.

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Structured Data

Data that includes internal source documents like sales orders and invoices.

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Unstructured Data

Data from external sources, often in human language, audio, and video formats.

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7 Vs of Big Data

Volume, Variety, Velocity, Veracity, Variability, Visualization, and Value.

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Predictive Analytics

The process of estimating future outcomes based on past and current data.

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Descriptive Analytics

Analysis that describes what has already happened, including content and context analysis.

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Prescriptive Analytics

Analysis that helps management decide the best possible outcomes among various options.

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Cognitive Analytics

The use of AI technologies to provide insights into business transactions.

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Time Series

A sequence of observations on a variable measured at successive points in time.

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Time Series Plot

A graphical representation of the relationship between time and a time series variable.

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Horizontal Pattern

A time series pattern where data fluctuates randomly around a constant mean.

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Trend Pattern

A long-term pattern in time series data resulting from factors like population changes or technology improvements.

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Seasonal Pattern

Recurring patterns in time series data observed over successive periods, often related to seasons.

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Cyclical Pattern

An alternating sequence of points in a time series that lasts for more than one year, often related to economic cycles.