Chapter 1 Business Analytics Exam
Questions and Answers (Latest 2026).
business analytics - CORRECT ANSWERS use of data, information technology, statistical
analysis, quantitative method, and mathematical or computer based operations and make better, fact
based decisions
business intelligence - CORRECT ANSWERS collection, management, analysis, and reporting of
data
information systems - CORRECT ANSWERS modern discipline evolved from business
intelligence
statistics - CORRECT ANSWERS science of uncertainty and the technology of extracting
information from data; an important element of business, driven to a large extent by the massive
growth
operations research/management science - CORRECT ANSWERS analysis and solution of
complex decision problems using mathematical or computer-based models
modeling and optimization - CORRECT ANSWERS techniques for translating real problems
into mathematics, spreadsheets, or other computer languages, and using them to find the best
"optimal" solutions and decisions
decision support systems - CORRECT ANSWERS combo of business intelligence concepts and
or/ms models to create analytical-based computer systems to support decision making
data mining - CORRECT ANSWERS focused on understanding characteristics and patterns
among variables in large databases using a variety of statistical and analytical tools
, simulation and risk analysis - CORRECT ANSWERS methodology that relies on spreadsheet
models and statistical analysis to examine the impact of uncertainty in the estimates and their potential
interaction with one another on the output variable of interest
what if analysis - CORRECT ANSWERS analysis shows how specific combinations of inputs that
reflect key assumptions will affect model outputs
visualization - CORRECT ANSWERS most useful component of business analytics that is truly
unique
tag cloud - CORRECT ANSWERS visualization of text that shows words that appears more
frequently using larger fonts
descriptive analytics - CORRECT ANSWERS use of data to understand past and current
business performance and make informed decisions; the most commonly used and most well
understood type of analytics
predictive analytics - CORRECT ANSWERS component of business analytics that seeks to
predict the future by examining historical data, detecting patterns or relationships in theses data, and
then extrapolating these relationships forward in time
prescriptive analytics - CORRECT ANSWERS component of business analytics that uses
optimization to identify the best alternatives to minimize or maximize some objective
data set - CORRECT ANSWERS collection of data
database - CORRECT ANSWERS collection of related files containing records on people,
places, or things
Questions and Answers (Latest 2026).
business analytics - CORRECT ANSWERS use of data, information technology, statistical
analysis, quantitative method, and mathematical or computer based operations and make better, fact
based decisions
business intelligence - CORRECT ANSWERS collection, management, analysis, and reporting of
data
information systems - CORRECT ANSWERS modern discipline evolved from business
intelligence
statistics - CORRECT ANSWERS science of uncertainty and the technology of extracting
information from data; an important element of business, driven to a large extent by the massive
growth
operations research/management science - CORRECT ANSWERS analysis and solution of
complex decision problems using mathematical or computer-based models
modeling and optimization - CORRECT ANSWERS techniques for translating real problems
into mathematics, spreadsheets, or other computer languages, and using them to find the best
"optimal" solutions and decisions
decision support systems - CORRECT ANSWERS combo of business intelligence concepts and
or/ms models to create analytical-based computer systems to support decision making
data mining - CORRECT ANSWERS focused on understanding characteristics and patterns
among variables in large databases using a variety of statistical and analytical tools
, simulation and risk analysis - CORRECT ANSWERS methodology that relies on spreadsheet
models and statistical analysis to examine the impact of uncertainty in the estimates and their potential
interaction with one another on the output variable of interest
what if analysis - CORRECT ANSWERS analysis shows how specific combinations of inputs that
reflect key assumptions will affect model outputs
visualization - CORRECT ANSWERS most useful component of business analytics that is truly
unique
tag cloud - CORRECT ANSWERS visualization of text that shows words that appears more
frequently using larger fonts
descriptive analytics - CORRECT ANSWERS use of data to understand past and current
business performance and make informed decisions; the most commonly used and most well
understood type of analytics
predictive analytics - CORRECT ANSWERS component of business analytics that seeks to
predict the future by examining historical data, detecting patterns or relationships in theses data, and
then extrapolating these relationships forward in time
prescriptive analytics - CORRECT ANSWERS component of business analytics that uses
optimization to identify the best alternatives to minimize or maximize some objective
data set - CORRECT ANSWERS collection of data
database - CORRECT ANSWERS collection of related files containing records on people,
places, or things
