Data-Driven Decision-Making Week 2, Module 1, 3, & Chapter 6 Latest Questions And Correct Answers

Data-Driven Decision-Making WEEK 2, MODULE 1, 3, & CHAPTER 6 LATEST QUESTIONS AND CORRECT ANSWERS What qualifies as Big Data? depends on context => the nature, scope, and operationalization of the real-world phenomenon under investigation, the benchmarks of computational capabilities, and the appraisal of what a given community of practice considers conventional What are the drivers of Big Data? instrumentation, interaction, and interconnection Big Data is fueled by exponential gains in computing performance, hardware miniaturization, rapidly declining costs, and network ubiquity The 3 Vs of Big Data VOLUME - how much data is there VARIETY - different types of data VELOCITY - the speed of data Volume: the prosprovides a huge amount of data may transcend sampling discovery is more possible with numerical data, text data, and visual data Volume: the cons data can be biased data can be WEIRD (Western, Educated, Industrialized, Rich, Developed) bot data can exist risks of spurious relationship risks of analytical dilemmas (ex: missing data) Variety: the pros different types of data can be combined (triangulation) for better prediction different types of data can provide different perspectives (metadata) opportunity to capture in situ signalsVariety: the cons uncertain whether data reflect reality (validity) and whether similar