Descriptive Analytics I: Nature of Data, Statistical Modeling, and Visualisation - A Simple Taxonomy of Data

4 important questions on Descriptive Analytics I: Nature of Data, Statistical Modeling, and Visualisation - A Simple Taxonomy of Data

What is data? How does data differ from information and knowledge?

Data refers to a collection of facts obtained as the result of experiments, observations, transactions or experiences.
Data is often viewed a the lowest level of abstraction  from which information and then knowledge is derived.

What are the main categories of data? What types of data can we use for BI and analytics?

Categorical data: types:
  • Nominal
  • Ordinal
  • Interval
  • Ratio   

Can we use the same data representation for all analytics models? Why, or why not?

No; other data types, e.g. textual, spatial, imagery, video and voice, need to be converted into some form of categorical or numerical representation. Otherwise they cannot be processed by analytics methods. Model development process could halt otherwise.
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
Discover Study Smart

What is a 1-of-N data representation? Why and where is it used in analytics?

Nominal or ordinal variables are converted into numeric representations of some type of 1-of-N.

The question on the page originate from the summary of the following study material:

  • A unique study and practice tool
  • Never study anything twice again
  • Get the grades you hope for
  • 100% sure, 100% understanding
Remember faster, study better. Scientifically proven.
Trustpilot Logo