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(Re-uploaded January 14, 2023) ▼"The Author's Fastest Guaranteed Pass Course" is now available on Udemy! Access it via the link below for an 84% discount sale price. No need to wait for Udemy's discount sale. https://udemy.it-pass.jp ▼There's also a free practice test app! https://app.it-pass.jp/ This video explains data analysis. ▼Table of Contents 0:00 Self-Introduction 0:11 Data Analysis 0:31 Big Data 1:40 Data Warehouse 2:27 Data Mining 2:53 Data Scientist 3:26 BI Tools 3:40 BI 4:05 This is What's Going on in the Exam! (Summary) 4:26 Spring 2019 Question 28 - Past Exam Questions ▼Contents In this video, I'll explain "data analysis." The world is filled with various types of data. There's a lot of data within companies, too. It's a waste to just let valuable data sit there. Collecting and analyzing data to gain valuable management insights will help you beat your competitors. Big Data Big data is a collection of diverse data that is large in volume, frequently updated, and diverse in nature. Big data has three characteristics known as the "3Vs." They are: -Volume Large data volume. As the name suggests, the volume is large. -Velocity Frequent updates. Velocity means "speed." Fast updates mean real-time performance. This term "real-time performance" will often come up on exams, so be sure to remember it. -Variety Includes diverse data. Big data includes not only text data, but also images, videos, audio, sensor data, and social media and blog posts—a wide variety of data types. As you can see, big data contains valuable information, but its sheer volume makes it impossible to analyze as is. Next, let's take a look at data warehouses, which organize and store massive amounts of data. Data Warehouse A data warehouse is a collection of data intended to aid in decision-making. Warehouse means "storehouse." Simply put, a data warehouse is a data repository. As shown in this diagram, data is collected and stored from various systems used by a company. Typically, data stored in systems is optimized by changing or deleting data as it is stored to prevent data volumes from increasing or processing speeds from slowing down. In contrast, data warehouses generally do not change or delete data. Because all data is stored in chronological order, past and present data can be compared to make future predictions. Data Mining Data mining is a method of extracting useful information from massive amounts of data. Data mining involves identifying information useful to management from massive amounts of data, such as big data and data warehouses. A similar term to data mining is "text mining." Text mining is a type of data mining that only targets text data. Data Scientist A data scientist is an expert who analyzes data to extract useful information, as in data mining. Data scientists are researchers and engineers who combine various techniques, such as statistics, machine learning, and data mining, to analyze big data. Data analysis is very difficult. That's why we have experts called data scientists. But it would be great if even managers and employees could analyze data. That's where BI tools come in handy. BI Tools BI tools are software that makes data analysis easy for anyone. Data analysis can be performed without the specialized knowledge of a data scientist. BI The "BI" in BI tools stands for "Business Intelligence." BI is a method of analyzing data stored within a company to help with management decision-making. BI uses BI tools to analyze data stored in a data warehouse and combines it with data mining to utilize the results for management. This is what will come up on the exam! Big data refers to a large amount of frequently updated, diverse data. A data scientist is an expert who analyzes data to extract useful information. BI tools are software that allows anyone to easily perform data analysis. Past Questions Which of the following terms best describes information in large volumes, in diverse formats, and in real time, with the potential to provide insights useful for decision-making? A. Big Data B. Diversity C. Core Competence D. Crowdfunding The correct answer is A, big data. Big data is a collection of diverse data that is large in volume, frequently updated, and available in real time. The rapid updates mean that it is real-time. Therefore, the keywords "large volume," "diverse," and "real-time" indicate that big data is the correct answer. Analyzing big data is expected to derive information useful for management and business. B, "diversity," refers to diversity. It refers to the various human diversities, including gender, age, nationality, race, religion, and values. Core competencies (C) are skills or technologies that competitors cannot easily imitate. For example, patents are the core strengths of a company that are difficult for other companies to imitate, bring value to customers, and are easy to expand into other businesses. Crowdfunding (D) is a system for raising funds from...
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