Edited, memorised or added to reading list

on 12-Sep-2018 (Wed)

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#ISAN3010 #module1
big data has yet to really take hold in project management,”

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#ISAN3010 #module1
First, there are early adopters of big data in project management. And second, the case for big data is so profound that any project man- ager, who wants to thrive in the next few years, ought to starting learning about it

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#ISAN3010 #module1
The data was stored in a variety of incompatible silos

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#ISAN3010 #module1
finally there was machine data coming from smart meters, their people on the road and other automatic sensors, which is definitely big data. In total Centrica adds 300 gigabytes of new data a day.”

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#ISAN3010 #module1
data into a single place, known as the datalake.

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#ISAN3010 #module1
simple-to-use interfaces. Now 500 people can run queries and analysis on the data

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#ISAN3010 #module1
They create their own reports and dashboards. Project managers in engineering are able to look at the data to see if their projects are on track. Project managers in marketing can refine customer interactions. Bulk marketing has stopped as a result

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#ISAN3010 #module1
Pretty much anyone can now use the data.

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#ISAN3010 #module1
Project managers should learn how to use the data and foster good data etiquette

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#ISAN3010 #module1
project managers should forget about going too deep

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#ISAN3010 #module1
vital for project managers to ensure they hand over data to clients post-project

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#ISAN3010 #module1
Data should be at the heart of the contract

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#ISAN3010 #module1
past projects as benchmarks

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#ISAN3010 #module1
Aspirationally, project managers can take in historical data from projects and over time use machine-learning to get a risk profile.

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#ISAN3010 #module1
identify flags and start to see trends.

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#ISAN3010 #module1
Those who use data will lead the way in the future

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Flashcard 3309916785932

Question
A sausage making machine occasionally produces misshapen sausages. The odds of the machine producing 0, 1, 2, 3, 4, or 5 sausages are .09, .07, .1, .04, .12 and .02 respectively. Find the variance and standard deviation.
Answer
1 Find and square the mean (here .81). Set this number aside.
2 Make a probability distribution chart :
Number of misshapper sausages X012345
Proability P(X).09.07.1.04.12.02
3 Square the top number, X, and multiply it by the bottom number ,P(X).
4: Add all of the numbers together.
5\(\sqrt{Step\ 4-Step\ 1}\)= SD


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Flashcard 3309921504524



Tags
#has-images
Question
80% of people who purchase pet insurance are women. If 9 pet insurance owners are randomly selected, find the probability that exactly 6 are women.
Answer
Using the binomial formula with n being the number of trials, X being the number of trials meting the desired outcome, p being probability of success and q of failure:
84 × .262144 × .008 = .176


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