"Big Data" Is a Recent Trend in the Field of Business

question 94

True/False

"Big Data" is a recent trend in the field of Business Intelligence BI) that involves mining very large data sets that come from billions upon billions of recorded transactions, social media interactions and records of individual user online activities.

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Definitions:

Factor Analysis

A statistical method used to identify underlying structures or factors among a set of observed variables by reducing data complexity.

Myth

A traditional story, especially one concerning the early history of a people or explaining some natural or social phenomenon, and typically involving supernatural beings or events.

Scale Construction

The process of developing a measurement tool that quantifies abstract concepts or variables, often involving item generation, testing, and validation.

Item Generation

The process of creating questions, prompts, or tasks for use in surveys, assessments, or tests.