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Terms in this set (47)
Data Mining
the process of analyzing data to extract information not offered by the raw data alone.
Advanced Analytics
focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics.
Data Visualization
describes technologies that allow users to see or visualize data to transform information into a business perspective.
Big Data
a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods.
Variety
a characteristic of big data; different forms of structured and unstructured data.
Veracity
a characteristic of big data; the uncertainty of data.
Volume
a characteristic of big data; the scale of data.
Velocity
a characteristic of big data; the analysis of streaming data as it travels around the internet.
Distributed Computing
processes and manages algorithms across many machines in a computing environment.
Virtualization
creation of a virtual version of computing resources, such as an operating system, a server, a storage device, or network resource.
Elements of Data Mining
data
discovery
deployment
Data Mining Tools
use a variety of techniques to find patterns and relationships in large volumes of information. The tools include: query tools, reporting tools, spreadsheets, statistical tools.
Data Mining Process Model
1. business understanding
2. data understanding
3. data preparation
4. data modeling
5. evaluation
6. deployment
Data Profiling
the process of collecting statistics and information about data in an existing source.
Data Replication
the process of sharing information to ensure consistency between multiple data sources.
Recommendation Engine
a data mining algorithm that analyzes a customer's purchases and actions on a website and the uses the data to recommend products.
Classification
a data mining technique; the process of organizing data into categories or groups for its most effective and efficient use.
Estimation
determines values for an unknown continuous variable behavior or estimated future value.
Affinity Grouping
reveals the relationship between variables along with the nature and frequency of the relationship.
Clustering
a technique used to divide an information set into mutual exclusive groups.
Market Basket Analysis
evaluates such items as websites and checkout scanner information to detect customer's buying behavior and predict future behavior by identifying affinities among customers choices of products and services.
Prediction
a statement about what will happen or might happen in the future.
Optimization
a data mining prediction analysis method; a statistical process that finds the way to make a design, decision, or system as effective as possible.
Forecasting
a data mining prediction analysis method; predictions based on time series information.
Regression
a statistical process for estimating the relationships among variables.
Time Series Information
a time-stamped information collected at a particular frequency
Dimension
a particular attribute of information.
Cube
common term for the representation of multidimensional information.
Infographics
presents the results of data analysis.
Data Artist
a business analytics specialist who uses visual tools to help people understand complex data.
Analysis Paralysis
occurs when the user goes into an overthinking of a situation so that a decision and action is never taken.
Business Intelligence Dashboards
track corporate metrics such as CSF's and KPI's and include advanced capabilities such as interactive controls, allowing users to manipulate data for analysis.
Data Visualization Tools
sophisticated analysis techniques such as controls, instruments, maps, time-series graphs, and more.
Behavioral Analysis
using data about people's behaviors to understand intent and predict future actions.
Correlation Analysis
determines a statistical relationship between variables, often for the purpose of identifying predictive factors among the variables.
Exploratory Data Analysis
identifies patterns in data, including outliers, uncovering the underlying structure to understand relationships between the variables.
Pattern Recognition Analysis
the classification or labeling of an identified pattern in the machine learning process.
Social Media Analysis
analyzed text flowing across the internet, including unstructured text from blogs and messages.
Speech Analysis
the process of analyzing recorded calls to gather information.
Text Analysis
analyzes unstructured data to find trends and patterns in words and sentences.
Web Analysis
analyzed unstructured data associated with websites to identify consumer behavior and website navigation.
Algorithms
mathematical formulas placed in software that preforms an analysis on a data set.
Analytics
the science of fast-paced decision making.
Anomaly Detection
the process of identifying rare or unexpected items or events in a data set that do not conform to other items in a data set.
Outlier
a data value that is numerically distant from most of the other data points in a set of data.
Fast Data
the application of big data analytics to smaller data sets in near-real or real-time in order to solve a problem or create business value.
Data Scientist
extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant programs.
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