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WPC 300 Midterm Exam Questions and Answers
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WPC 300 Midterm Exam Questions and Answers
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WPC 300 Midterm Exam Questions andAnswers
What iiis iianalytics? ii- iiAnswers ii-- iiIt iiall iistarts iiwith iidata
- iiBusinesses iicapture iimoments iiof iitransactions iito iideliver iieconomic iivalue
- iiAnalytics iiis iithe iiprocess iiof iideveloping iiactionable iidecisions iior iirecommendations
iifor iiactions iibased iion iiinsights iigenerated iifrom iihistorical iidata
Principles iiof iiProblem iiFraming ii- iiAnswers ii-Tell iian iiinteresting iiand iicomplete iistory
- iiThe iiproblem iiyou iiaddress iishould iibe iimeaningful
- iiSolution iicould iibe iireused iifor iirelated iiproblems
- iiAssumptions, iiboundaries
Find iian iiappropriate iisolution iiframework
- iiBreak iidown iithe iiproblem iiinto iipieces
- iiIterative iiprocess ii(agile iivs iiwaterfall)
- iiIdentify iiappropriate iianalytical/modeling iitechniques
Routinize iithe iiprocedure
- iiDocumentation
- iiNext iisimilar iiquestions iican iibe iisolved iiquickly
- iiBuild iia iisystem ii(marcos, iicodes, iiprograms)
Data ii- iiAnswers ii-- iiCollection
- iiCommunication
- iiCleaning
- iiAnalyses
- iiGathering
- iiStoring
- iiRetrieving
- iiInterpreting
Primary iiData ii- iiAnswers ii-- iiSurvey
- iiInterviews ii(marketing iifirm's iitelephone iiinterviews)
- iiUsed iia iilot iiin iimarketing iiresearch
Secondary iiData ii- iiAnswers ii-- iiFirm's iiproprietary iidatabase
- iiInternet iidata ii(crawlers)
- iiStock/capital iimarket iidata
- iiAccounting iidisclosure iidata
, Simulated iiData ii- iiAnswers ii-- iiData iibased iion iiassumption iiand iisimulation
- iiUsed iia iilot iiin iischeduling, iirouting iiand iiqueuing
Data iiExtraction ii- iiAnswers ii-Extract iidata iifrom iiprimary/secondary iisource
Data iiTransformation ii- iiAnswers ii-Transform/clean iidata iiinto iiproper iiformat iior
iistructure iifor iithe iipurpose iiof iiquerying iiand iianalysis
Data iiLoad ii- iiAnswers ii-Load iidata iiinto iifinal iitarget iidatabase, iimore iispecifically iian
iioperational iidata iistore, iidata iimart iior iidata iiwarehouse
Descriptive iiAnalytics ii- iiAnswers ii-This iiis iia iipreliminary iistage iiof iidata iiprocessing
iithat iicreates iia iisummary iiof iihistorical iidata iito iiyield iiuseful iiinformation iiand iipossibly
iiprepare iithe iidata iifor iifurther iianalysis
Questions:
- iiWhat iihappened? iiWhat iiis iihappening?
- iiWhat iiare iiour iisales iisince iilast iiyear?
- iiWhich iicustomer iiis iifrequenting iiour iistore iiore iioften iiand iiwhat iiare iithey iibuying?
Methods:
- iiStandard iireporting
- iiDashboards
- iiVisual iianalytics
Outcome
- iiWell iidefined iibusiness iiproblems iiand iiopportunities
Predictive iiAnalytics ii- iiAnswers ii-The iiuse iiof iidata, iistatistical iialgorithms iiand iimachine
iilearning iitechniques iito iiidentify iithe iilikelihood iiof iifuture iioutcomes iibased iion
iihistorical iidata, iithe iigoal iiis iito iigo iibeyond iiknowing iiwhat iihas iihappened iito iiproviding
iia iibest iiassessment iiof iiwhat iiwill iihappen iiin iithe iifuture
Questions:
- iiWhat iiwill iihappen iinext? iiWhy iiwill iiit iihappen iinext?
- iiWhat iiwill iibe iiour iilikely iirevenue iiin iithe iinext iifive iiyears?
- iiWho iiwill iirespond iito iiour iiadvertisement?
Methods:
- iiData iimining
- iiText iimining
- iiForecasting
Outcome:
- iiAccurate iiprojections iiof iifuture iioutcomes iiand iievents
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