About the Author
About the Technical Reviewer
Acknowledgments.
Introduction...
!Chapter 1: Introduction to Analytics
‘Chapter 2: Data Understanding ..
Chapter 3: Introduction to Basic Stati
Chapter 4: Hypothesis Testing
‘Chapter 5: Correlation and Regression..
Chapter 6: Segmentati
Chapter 7: Advanced Statistics and Usage...
iChapter 8: Classification Techniques and Analytics Tools...
Index...MChapter 1: Introduction to Analytics .....
Q: What is analytics?.......
Q: Why has analytics become so popular today?....
Q: What has led to the explosion of analytics into the mainstream?
Q: How is analytics used within e-commerce and marketing
Q: How is analytics used within the financial industry?.....
Q: How is analytics used within the retail industry? ..
Q: How is analytics used in other industries?
Q: What are the various steps undertaken in the process of
performing analytics?
portant to have an understanding of
Q: Why is business understanding such an integral
part of analytics?,
Q: What is modeling’
Q: What are optimization techniques?....
Q: What is model evaluation?
Q: What is in-sample and out-of-sample testing?..‘Q: What are response models?.
‘Q: What is model lift? ...
Q: Can you explain the deployment of an analytics model?
Why is it important? ..
Q: How are predictive and descriptive analytics differentiated?.
: How much can we rely on the results of analytics:
0: Can you briefly summarize the tools used in analytic:
Chapter 2: Data Understanding ...
(Q: What are the four types of data attributes?
Q: Can you explain the nominal scale in detail?..
Q: What are some of the pitfalls associated with the nominai scale’
Q: Can you explain the ordinal scale in detail?,
'Q: What are some of the pitfalls of the ordinal scale?.
Q: Where are ordinal scales most commonly used
Q: What is meant by data coding?....
Q: Can you explain the interval scale in detail? J
Q: What are the two defining principles of an interval scale?.
O: What are the characteristics of the ratio scale?
Q: What are the limitations of scale transformation? ..
Q: In 2014, Forbes ranked Bill Gates as the richest man in
‘the United States. penne to what scale of measurement
iis this ranking?.
Q: How are continuous and discrete variables differentiated?..
0: How are primary and secondary data differentiated?
Q: Broadly, what are the four methods af primary data collection’
Q: What is meant by primary data collection by observation? ..
0: What is primary data collection by in-depth interviewing?....0: What is primary data collection by focus QTOUPS? ..cccccccineseese 16
O: What is primary data coflection by questionnaires and surveys?..... 16
Q: What is data sampling?...
Q:What are the different types of sampling plans?
0: What is simple random sampling?......
0: What is stratified random sampling?......
Q: What is cluster sampling?................
OQ: What are the different errors involved in sampling?.
: What causes a sampling error? .........
Q: What is a non-sampling error?.........
Q: What are the three types of non-sampling errors? .
0: Can you identify some errors in data acquisition
Q: When does selection bias occur?........
Q: What is data quality’...
0: What is data quality assurance?
Q: What are various aspects of data quality? 0... 1D
Q: What is data consistency? ......
0: What is meant by data timeliness?..
Q: What is data auditability?.....
Q: What is meant by data being “redundant”?.........
O: What is data cleaning?.....
Q: What are different sources of errors in data’
O: What are data entry errors? eee
O: What are distillation QFOTS? ssessesssees0e‘0: What are data outliers?..
‘0: What are the sources of outliers’
MSChapter 3: Introduction to Basic Statistics ...ccssssessecssesasssssseses 23
‘0: How would you define statistics to a layperson?
(0: How are statistical methods categorized!
‘0: What is the definition of descriptive statistics’
(0: How do you define inferential statistics?
‘0: What is a population data set?.
‘0: What are data frequency tables?
0: How do you define location statistics?
‘Q: What is the mean or average?
Q; What are some of the key characteristics of a mean?
‘0: What is a weighted mean?.....
Q: What is a median? How do we determine
the median of a data set?......
Q; When is a median used as opposed to a me
0: What is meant by *mode"?
0; Can you define quartiles, quintiles, deciles, and nd parcatien? ee oe
Q; Can you define standard deviation? Also, can
you discuss briefly the notations used for i
Q: What is the variance of a data set?....
Q: What is unconditional probability? ..
‘0; What is conditional probabbili
‘0: What is the multiplication rube of probability?
Q: What is Bayes's theorem?...Q: What is meant by the “skewness” of a distribution?
Also, what is positive and negative skewness?....
Q: What are outliers? How do they affect
the skewness of a distribution?....
Q; How does skewness affect the location of the mean, med
and mode of a distribution? .
Q: What is a normal distribution’
Q: What is the kurtosis of a distribution? Also, what are
the various types of kurtosis? ......
O: What is a standard normal curve?.....
Q: What are some of the other continuous
probability disttibutions?..
Q: What is an F distribution?
Q: What is a binomial probability distribution?......
M|Chapter 4: Hypothesis Testing
OQ: What is a hypothesis?
: What is hypothesis testing?
O: Why is hypothesis testing necessary? .....
Q: What are the criteria to consider when ela a
good hypathesis? ..
Q: How is hypothesis testing jevtormeat.
0: What are the various steps of hypothesis testing?
Q: What is the role of sample size in analytics?
Q: What is standard error?
Q: What are null and alternate hypotheses’
Q: Why are null and alternate hypotheses necessarv?....‘Q: What is meant by “level of significance"?
Q: What is test statistics?....
0: What are the ditferent types of errors in hypothesis testing?...
‘Q: What is meant by the statement “A result was
said to be statistically significant at the 5% level."?
O: What are parametric and non-parametric tests?
0; What differentiates a paired vs, an unpaired test?
0: What is.a chi-square test? ...
0: Whatis a t-test?...
0; What is a one-sample t-test?
0: What is a two-sample t-test? ssc ctsesetecteseteseee
‘0: What is a paired-sample t-test?.......
0; Briefly, what are some issues related to t-tests?
lthapter 5; Correlation and Regression.
‘0: What is correlation and what does it do?..
‘0: When should correlation be used or not used!
0: What is the Pearson product-moment correlation coefficie
(0: What is the formula for calculating the correlation coefficient? .......47
‘0: Briefly, what are the other techniques for
calculating correiation?...
Spearman Rank-Order Correlation
Phi Gosretation...
0: How would you use a graph to illustrate and interpret a
correlation coefficient?.....Q: How would you calculate a correlation coefficient in Excel?.
O: What is meant by the tenm “linear regression"?...
Q: What are the various assumptions that an analyst
fakes into account while running a regression analysis? ..........
Q: How would you execute regression on Excel’... ™
Q: What is the multiple coefficient of determination or R-squared’
O: What is meant by “heteroscedasticity"? ...
Q: How do you differentiate between conditional and unconditional
heteroscedasticity?....... i
Q:What are the different methods of detecting fiasniosonaate?:
O: What are the different methods to correct heteroscedasticity?
Q: What is meant by the term “serial correlation"?... ii
Q: What are the different methods to detect serial correlation?
0: What are the different methods to correct multicollinearity?
OQ: What is an odds ratio?... a
OQ: How is linear regression different from logistic regression? .........55
OChapter 6: Segmentation.......
O:What are supervised and unsupervised
learning algorithms? How are they different from each other? ...........57
Q: Can you give an example to differentiate between
supervised and unsupervised learning algorithms?
Q: What are some of the Hoeven and i anecetee
algorithms? ....
0: How Is sine defined?...
Q:What are the two basic types of clustering methods?..........
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saosssasanssssessecrareneseseaesseeseseserensees OT‘0: What is meant by “exclusive clustering”? ...
Q; What is non-exclusive or overlapping clustering?
0: What is the concept behind fuzzy clustering’...
‘0: Can you differentiate between a vaannpia 4S.
a partial clustering? ............
Q: What is meant by “k-means clustering”?
Q: What is the basic algorithm of k-means clustering,
in layperson’s terms?.......
‘Q: What is the proximity measure that you
take in k-means clustering? .....
‘0: What differentiates a k-means from a k-median?
When would you use k-median as opposed to k-means? .....
‘0: What are some of the limitations of the k-means clustering
technique?...
0: Given that each iteration of k-means gives us.
different results, how would you ensure picking the best results?,
0: What are the two types of hierarchical clustering
0: What is the difference between agglomerative vs.
divisive clustering’......
0: What is a dendrogram’...
‘0: What is the basic algorithm behind the agglomerative
clustering technique’...
0: Can you briefly explain some of the proximity
measures that are used in hierarchical clustering techniques?
0: What is Ward’s method of defining cluster proximity’
0; How do you determine the optimal number of
clusters fora data set? ....
BBQ: What is the business aspect of Sena
‘the optimal cluster solution?. assests
Q: Gan you explain, using a case study, the use of clusteri
techniques in the retail industry?...
Chapter 7: Advanced Statistics and Usage....
Q: What is understood by one-way analysis of variance?
0: Ina nutshell, how does the ANOVA technique work?..
Q: What is the null hypothesis that ANOVA tests’...
Q: What is understood by dimension reduction techniques’ 7
Q: What are some commonly used variable reduction techniques?...... 70
Q: Can you provide a brief overview of principal
component analysis? .....
Q: Can you provide a brief overview of fact
Q: What is factor loading? .....
Q: What is conjoint analysis?.. =
Q: What are the three main steps involved in ececng
a conjoint analysis?.....
Q: What are some of the ways in which an HR Gepatinert can
use analytics? ....... 6
Q: What are some of the a specific questions that
HR analytics helps to answer?
: What, briefly, is employee sentiment analys'
Q: What, in detail, is the predictive attrition model?.........
Q: How would you create a predictive attrition model?
What, briefly, is the statistics part of this modal?......
Q: What would a typical output of a predictive0: How can HR managers use ani promote employee
effectiveness? .... se
0: Briefly, what is Net Promoter Score, and how is analytics
used with it?...
Q: Briefly, how can anion be be used in the hospitality industry?
Q: Can you describe a use case of social media analytics.
0: What is understood by text analytics?
Q: What typical process would you undertake for text analytics?.
Q; What is a word cloud? How is it used? ... ile
Q: Briefly, how can analytics be used in the banking industry?
‘0: Can you provide a use case of analytics in the banking industry?
0: Can you provide some key use cases of geospatial analytics?
Location Gomparison Based on Populated Area Density.
Strategic Location identification
‘Area Growth identification ....
Chapter &: Classification Techniques and Analytics Tools............
‘0: What is understood by “classification"? ..
‘0: Can you name some popular classification methodologies?
O: Briefly, what is understood by “logistic regression"? .......
0: What is understood by “neural network"?...
0: How is neural network different from conventional computin
‘0: Can you give a brief overview of decision trees? ...............
‘0: Can you explain briefly the random forest method of
classification?
1B RRREREBQ:What are some of the visualization tools available in the market
Q: What are the three v's that define big data’
Q: Can you differentiate between structured, semi-structured, and
unstructured data?.... 88
Q: What are some of the tools used for statistical analysis