Describe Each of the Four V's of Data Analytics: Variety,volume,velocity,and

question 121

Essay

Describe each of the four V's of data analytics: variety,volume,velocity,and veracity.

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Definitions:

Outlier

An observation in a data set that is distant from other observations, potentially indicating a variance issue, measurement error, or novel discovery.

Box and Whisker Plot

A graphical representation of data that shows the distribution of data points based on a five-number summary: minimum, first quartile, median, third quartile, and maximum.

Five-number Summary

A statistical summary that includes the minimum, the first quartile, the median, the third quartile, and the maximum of a data set.

Z-scores

Standardized scores that indicate the number of standard deviations an element is from the mean of its distribution.