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M10-02 lecture
M10-02 lecture
Refresher: Descriptive analytics
Refresher: Descriptive analytics
Recall that descriptive analytics are analyses performed that characterize, summarize, and organize features and properties of the data to facilitate understanding. Descriptive statistics are brief summaries (or factoids) of a data set that provide a representation of the the data set as a whole including basic statistics, including the mean, standard deviation, minimums, and maximums of a data set.
Example: Amazon
Example: Amazon
Dashboards
Dashboards
A dashboard is a report that contains a collection useful visualizations and tables to check business progress and drive decisions. They typically have filters available so that it is easy for decision-makers to drill down into more detailed data, such as sales by category, product, or geographic area.
Example: Amazon
Example: Amazon
Bar Charts vs. Histograms
Bar Charts vs. Histograms
Histograms are used to illustrate frequency in the distributions of data. Histograms look like bar charts but an important difference.
Histograms present bins (i.e., intervals) on the x-axis.Â
Histograms present bins (i.e., intervals) on the x-axis.Â
A bar chart presents categories along the x-axis (e.g., female/male), while a histogram presents intervals for a numeric variable (e.g., 1 to 5, 6 to 10, 11 to 15, and 16 to 20) and presents the frequency of observations falling into each interval (i.e., how many observations had a value of 1 to 5?).
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