Challenge 2

Terms and definitions for Course 2, Module 2 Algorithm: A process or set of rules followed for a specific task

Big data: Large, complex datasets typically involve long periods of time, which enable data analysts to address far-reaching business problems

Dashboard: A tool that monitors live, incoming data

Data-inspired decision-making: The process of exploring different data sources to find out what they have in common

Metric: A single, quantifiable type of data that is used for measurement

Metric goal: A measurable goal set by a company and evaluated using metrics

Pivot chart: A chart created from the fields in a pivot table

Pivot table: A data summarization tool used to sort, reorganize, group, count, total, or average data

Problem types: The various problems that data analysts encounter, including categorizing things, discovering connections, finding patterns, identifying themes, making predictions, and spotting something unusual

Qualitative data: A subjective and explanatory measure of a quality or characteristic

Quantitative data: A specific and objective measure, such as a number, quantity, or range

Report: A static collection of data periodically given to stakeholders

Return on investment (ROI): A formula that uses the metrics of investment and profit to evaluate the success of an investment

Revenue: The total amount of income generated by the sale of goods or services

Small data: Small, specific data points typically involving a short period of time, which are useful for making day-to-day decisions