MISY5370-Data Mining & Predictive
Analytics Midterm Questions and
Answers.
Strategic Decision - Answer a decision that involves higher-level issues and that is concerned
with the overall direction of the organization, defining the overarching goals and aspirations for
the organization's future
Tactical decision - Answer a decision concerned with how the organization should achieve
the goals and objectives set by its strategy
Operational Decision - Answer a decision concerned with how the organization is the run
from day to day
Business Analytics - Answer the scientific process of transforming data into insight for
making better decisions
descriptive analytics - Answer analytical tools that describe what has happened
data query - Answer a request for information with certain characteristics from a database
data dashboard - Answer a collection of tables, charts, and maps to help management
monitor selected aspects of the company's performance
predictive analytics - Answer techniques that use models constructed from past data to
predict the future or to ascertain the impact of one variable on another
data mining - Answer techniques used to find patterns or relationships among elements of
the data in a large database
simulation - Answer the use of probability and statistics to construct a computer model to
study the impact of uncertainty on the decision at hand
Prescriptive analytics - Answer techniques that take input data and yield a best course of
action
optimization model - Answer a mathematical model that gives the best decision, subject to
the simulation's constraints
, simulation optimization - Answer the use of probability and statistics to model uncertainty,
coalyimbined with optimization techniques , to find good decisions in highly complex and highly
uncertain settings
decision analysis - Answer a technique used to develop an optimal strategy when a decision
maker is faced with several decision alternatives and an uncertain set of future events
utility theory - Answer the study of the total worth or relative desirability of a particular
outcome that reflects the decision maker's attitude toward a collection of factors such as profit,
loss, and risk
big data - Answer a set of data that cannot be managed, processed, or analyzed with
commonly available software in a reasonable amount of time
advanced analytics - Answer predictive and prescriptive analytics
Data ink ratio - Answer the ratio of the amount of ink used in a table or chart that is
necessary to convey information to the total amount of ink used in the table and chart.
reduces - Answer Ink used that is not necessary to convey information _____________ the
data ink ratio
crosstabulation - Answer a tabular summary of data for two variables. The classes of one
variable are represented by the rows; classes for the other variable are represented by the
columns
PivotTable - Answer a crosstabulation created in Excel that is interactive
Chart - Answer a visual method for displaying data; also called a graph or a figure
scatter plot - Answer a graphical presentation of the relationship between two quantitative
variables. One variable is shown on the horizontal axis, and the other variable is shown on the
vertical axis
trendline - Answer a line that provides an approximation of the relationship between
variables in a chart
Analytics Midterm Questions and
Answers.
Strategic Decision - Answer a decision that involves higher-level issues and that is concerned
with the overall direction of the organization, defining the overarching goals and aspirations for
the organization's future
Tactical decision - Answer a decision concerned with how the organization should achieve
the goals and objectives set by its strategy
Operational Decision - Answer a decision concerned with how the organization is the run
from day to day
Business Analytics - Answer the scientific process of transforming data into insight for
making better decisions
descriptive analytics - Answer analytical tools that describe what has happened
data query - Answer a request for information with certain characteristics from a database
data dashboard - Answer a collection of tables, charts, and maps to help management
monitor selected aspects of the company's performance
predictive analytics - Answer techniques that use models constructed from past data to
predict the future or to ascertain the impact of one variable on another
data mining - Answer techniques used to find patterns or relationships among elements of
the data in a large database
simulation - Answer the use of probability and statistics to construct a computer model to
study the impact of uncertainty on the decision at hand
Prescriptive analytics - Answer techniques that take input data and yield a best course of
action
optimization model - Answer a mathematical model that gives the best decision, subject to
the simulation's constraints
, simulation optimization - Answer the use of probability and statistics to model uncertainty,
coalyimbined with optimization techniques , to find good decisions in highly complex and highly
uncertain settings
decision analysis - Answer a technique used to develop an optimal strategy when a decision
maker is faced with several decision alternatives and an uncertain set of future events
utility theory - Answer the study of the total worth or relative desirability of a particular
outcome that reflects the decision maker's attitude toward a collection of factors such as profit,
loss, and risk
big data - Answer a set of data that cannot be managed, processed, or analyzed with
commonly available software in a reasonable amount of time
advanced analytics - Answer predictive and prescriptive analytics
Data ink ratio - Answer the ratio of the amount of ink used in a table or chart that is
necessary to convey information to the total amount of ink used in the table and chart.
reduces - Answer Ink used that is not necessary to convey information _____________ the
data ink ratio
crosstabulation - Answer a tabular summary of data for two variables. The classes of one
variable are represented by the rows; classes for the other variable are represented by the
columns
PivotTable - Answer a crosstabulation created in Excel that is interactive
Chart - Answer a visual method for displaying data; also called a graph or a figure
scatter plot - Answer a graphical presentation of the relationship between two quantitative
variables. One variable is shown on the horizontal axis, and the other variable is shown on the
vertical axis
trendline - Answer a line that provides an approximation of the relationship between
variables in a chart
