Weekly Summary 1.1

University of Potomac

CBSC520.18

Weekly Summary 1.1

This week was the first week of class. We learned the basics of Data analysis. We see how Technology has advanced and many businesses depend on information systems for their growth. It is because of information systems, that data can be collected and analysis can be done on data.

We learn the three important themes that is used in the textbook:

We also learned that we use Microsoft Excel and other Software to perform our data analysis. MS Excel is a powerful application that allows optimizing spreadsheets.

• Data analysis – here we see the data in detail, and relate it to find out required results
• Decision making – this will allow making decisions based on the results from the relation of data
• Dealing with uncertainty – this will help allowing uncertain data to be measured

We learn the seven steps of data modelling:

Although we see that not all problems will need all the above seven steps.

• Defining the problem
• Collecting and summarizing the data
• Developing a model
  • Verifying the model
  • Selecting one or more suitable decisions
  • Present the result to the organization
  • Implement the model and update it over time

In the second chapter of the text we learn presentation of data in different forms by using different tools like Graphs, Numerical summary measures, and Table of summary measures. We see how data is collection from population, and sample of data can be used for analysis. We learn about different types of data as numbers and date.

We also learn about mean, median and mode, where Mean is the average of all values, median is the center of observation, after sorting the data from smallest to largest, and mode is the value that appears most often. Term including Minimum, Maximum, Percentiles, and Quartiles were also seen and these values can be calculated in Excel using respective functions.

We also saw Variability measures including what is range, interquartile range, variance, standard deviation, etc. along with the shape measures like skewing.

Thank you.