BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Drill Down Analysis
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Linear Regression
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ETL
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Data Mining
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Detailed explanation-1: -What is drill-down analysis and how is it used? Involves the interactive examination of high-level summary data in increasing detail to gain insight into certain elements-sort of like slowly peeling off the layers of an onion.
Detailed explanation-2: -The OLAP Cube consists of numeric facts called measures which are categorized by dimensions. OLAP Cube is also called the hypercube.
Detailed explanation-3: -In the case of business analytics, or the study of data and what information can be gained from the data, the 80/20 rule becomes: 80% of the time spent by a data scientist is on gathering, cleansing, and storing the data, while 20% of the time is spent on analyzing the data.
Detailed explanation-4: -Typically, the fact measure in a data cube for a chain retail business is the revenue (such as the $900 revenue from jeans purchases in Indiana during the second quarter).
Detailed explanation-5: -Answer: During the collection phase, data is identified, labeled, and recorded from potentially relevant sources.