Which of the following is the process of using data-driven algorithms?Big Data AnalyticsPredictive AnalyticsBusiness AnalyticsData Science
Question
Which of the following is the process of using data-driven algorithms?
- Big Data Analytics
- Predictive Analytics
- Business Analytics
- Data Science
Solution
All of the options mentioned - Big Data Analytics, Predictive Analytics, Business Analytics, and Data Science - involve the process of using data-driven algorithms.
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Big Data Analytics: This process involves examining large and varied data sets (i.e., big data) to uncover hidden patterns, unknown correlations, market trends, customer preferences, and other useful business information. It uses advanced analytic techniques against very large, diverse data sets that include structured, semi-structured, and unstructured data, from different sources, and in different sizes.
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Predictive Analytics: This is the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. It uses many techniques from data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data and make predictions about the future.
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Business Analytics: This is the practice of iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis. It is used by companies committed to data-driven decision-making.
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Data Science: This is a multi-disciplinary field that uses scientific methods, processes, algorithms, and systems to extract knowledge and insights from structured and unstructured data. Data science is related to data mining, machine learning, and big data.
In summary, all these fields involve the use of data-driven algorithms to analyze data and extract useful information.
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