# Business Analytics and Emerging Trends - Social Network Anlaysis - Type of networks

## 9 important questions on Business Analytics and Emerging Trends - Social Network Anlaysis - Type of networks

### How is a random network generation done?

- Network where links between nodes are randomly made.
- Start with
**n**nodes,**each pair**of nodes has**probability p to connect**with each other and**all nodes**have approximately the**same degree:**K

### Why is a small world network relevant to study and what is the CC of this network?

**Similar to social networks in real world**

- a group of people are
**closely related**-->**High CC** **Few people**have**far reaching**connections -->**low avg path length**

### How is a small world network generated?

- Start with a ring lattice of n nodes
- Each node connected to closest
**k**neighbors **Rewire edges:**delete edges with probability p and create random edges such that number of links remain the same

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### How are scale free networks generated?

**Power-law network**(hub networks)**Preferential attachment**:- Start with 1 node,
**add new node via link**, which node will be**linked**in existing network depends on**degree of node**,**rich get richer phenomenon**

### How are the degree distribution and adjacency matrix of the three network types?

**Random:**degree distribution is**approximately equally**divided and adjacency matrix is**random****Small world**: degree distribution**approximately equally**dvided and adjacency matrix more**diagonal line with points****Scale-free:**degree distribution**most nodes**have**few edges**and a**few nodes**have a**lot of edges**and adjacency matrix**horizontal line in top**and**vertical line in left**

### What are strong and weak ties?

**Strong ties:**Close friends probably highly clustered**Weak ties**: distant friend, friend outside your main cluster

### Why can a weak tie be stronger than a strong tie?

**other insights**or

**connections**outside your cluster of strong ties

### What are structural holes (Burt, 2004)?

- People conntected accross multiple groups

### What are advantages of structural holes?

**Information advantages**: informations across groups are**more additive than overlapping****Control advantages:**Third-party opportunities, brokerage and entrepreneurship

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