Chat with AIExam 3: Exploratory Data Analysis Using Cognitive Analytics
Explain exploratory data analysis with a relevant example.
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Answered by Examlex AI CopilotExploratory data analysis (EDA) is the process of analyzing and visualizing data to understand its main characteristics, uncover patterns, and identify potential relationships between variables. It is an important step in the data analysis process as it helps in gaining insights and making informed decisions.
One relevant example of exploratory data analysis is analyzing a dataset of housing prices in a particular city. In this example, we can start by examining the distribution of housing prices using histograms and box plots to understand the range and variability of prices. We can also explore the relationships between housing prices and other variables such as location, size of the property, and the year it was built.
Furthermore, we can use scatter plots to visualize the relationship between housing prices and these variables. This can help us identify any potential patterns or correlations that may exist. Additionally, we can use summary statistics and measures of central tendency to understand the average housing price and its variability.
Overall, exploratory data analysis allows us to gain a deeper understanding of the housing market in the city and can help in making decisions related to buying or selling properties. It also provides a foundation for further analysis and modeling.
Among early adopters of cognitive analytics and knowledge discovery tools, 25 percent reported that artificial intelligence initiatives are necessary to gain a lead over competitors.
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VerifiedFalse
Which of the following improves itself by learning from new data without being explicitly programmed?
(37) VerifiedC
The cognitive analytics the company North Face uses continues to learn and improve as more customers use their website or mobile app to choose outerwear products.
(33) In the Red Ventures Internet marketing company case study, the traffic_description variable refers to the ________.
(37) In the Red Ventures Internet marketing company case study, the variable ________ refers to the state where the user browsing the online site is from.
(46) In the Red Ventures Internet marketing company case study, a web visitor making an actual purchase is referred to as a(n) ________.
(30) Summarize practitioner William Disch's thoughts on the importance of combining external and public data sources when addressing business problems.
(23) ________ can provide personalized experiences to shoppers through website content based upon a history of behaviors, interests, and purchases.
(37) When North Face conducted a pilot study to gauge the effectiveness of cognitive analytics, customers clicked on product recommendations ________ of the time.
(44) Identify the cognitive method that utilizes multiple layers of abstract variables using neural network models.
(41) Honda used natural language processing to reduce by 80 percent the time required to analyze customer's insights.
(22) Which of the following is an internal source of data for a company seeking improved insights?
(37) The ________ cognitive technology helped Pebble Bay Resort in Monterey, California, to improve its customers' retail experience.
(36) In the Red Ventures Internet marketing company case study, the total_duration variable describes the ________.
(27) Write a summary of the four cognitive data analytic technologies, their functionality, and examples of use.
(34) IBM Watson competed and lost on the quiz show Jeopardy against champions Ken Jennings and Brad Rutter.
(37) In reference to the Red Ventures Internet marketing company case study, the manufacturer variable describes the ________.
(38) Exploratory data analysis in general is not helpful in determining irregularities that exist in a dataset.
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