The study of statistics is often broken into what two main categories?
inferential statistics (3)
descriptive statistics (4)
What is data?
is information, especially facts or numbers, usually collected or computed for purposes of analysis.
Common sources of data (3)
Data analytics
is the field of analyzing data to gain insight, draw conclusions, or make decisions.
Big data
refers to very large data sets that cannot be processed by traditional methods, and is characterized by high volume, rapid velocity of collection, and variety in type and quality.
3 Types of data analytics
Descriptive data analytics
analytics seeks to describe data, providing insight and knowledge.
Predictive data analytics
seeks to make predictions from data
Prescriptive data analytics
seeks to make decisions (prescriptions) based on data
Data is typically represented using what?
variables
variable
is an item that can have different (“varying”) values
Variables are often considered as being of two possible types:
quantitative variable
can take on a numeric value (quantitative data) that can be measured and ordered
categorical variable (qualitative variable)
can take on the value (usually a label) of one of several categories
reason for distinguishing variable types (3)
Two types of categorical variables are often distinguished
Nominal variable
have no ordering, existing in name only, like apples, oranges, and grapes. (“Nominal” means “in name only”).
Ordinal Variable
have an ordering, like disagree, neutral, and agree.
Two types of quantitative variables are often distinguished
continuous variable
are infinite along a continuum of values within a range, typically real numbers. Continuous variables usually represent measurements, like height ( meters) or temperature ( degrees).
discrete variable (3)
Data visualization
is the display of data in a format, such as a table or chart, that seeks to achieve a goal of conveying particular information to a viewer