BUSINESS STATISTICS FOR
CONTEMPORARY DECISION MAKING
CERTIFICATION SCRIPT 2026 COMPLETE
QUESTIONS AND CORRECT ANSWERS
◉How has the cost of data warehousing changed over time?
Answer: The costs related to data warehousing are declining.
◉Why is collaboration important along the supply chain? Answer:
Partners need to share information to make effective decisions.
◉What is the importance of expert opinions in decision-making?
Answer: They provide valuable insights and perspectives that can
enhance decision quality.
◉What is the purpose of Knowledge Management Systems (KMS)?
Answer: To support decision making for managers through formal
and informal information.
◉What major change has occurred in decision support due to
wireless technology? Answer: Managers can access information
anytime and from any place.
, ◉What does Business Intelligence (BI) encompass? Answer:
Architectures, tools, databases, analytical tools, applications, and
methodologies.
◉What is the main objective of Business Intelligence? Answer: To
enable interactive access to data and facilitate informed decision-
making.
◉What are the four major components of a Business Intelligence
system? Answer: Data warehouse, business analytics, business
performance management (BPM), and user interface.
◉What does descriptive analytics focus on? Answer: Understanding
what is happening in the organization and the trends behind it.
◉How does descriptive analytics utilize data? Answer: By
consolidating data sources for reporting and analysis.
◉What role does visualization play in descriptive analytics?
Answer: It helps develop powerful insights into organizational
operations.
◉What is the aim of predictive analytics? Answer: To determine
what is likely to happen in the future.
CONTEMPORARY DECISION MAKING
CERTIFICATION SCRIPT 2026 COMPLETE
QUESTIONS AND CORRECT ANSWERS
◉How has the cost of data warehousing changed over time?
Answer: The costs related to data warehousing are declining.
◉Why is collaboration important along the supply chain? Answer:
Partners need to share information to make effective decisions.
◉What is the importance of expert opinions in decision-making?
Answer: They provide valuable insights and perspectives that can
enhance decision quality.
◉What is the purpose of Knowledge Management Systems (KMS)?
Answer: To support decision making for managers through formal
and informal information.
◉What major change has occurred in decision support due to
wireless technology? Answer: Managers can access information
anytime and from any place.
, ◉What does Business Intelligence (BI) encompass? Answer:
Architectures, tools, databases, analytical tools, applications, and
methodologies.
◉What is the main objective of Business Intelligence? Answer: To
enable interactive access to data and facilitate informed decision-
making.
◉What are the four major components of a Business Intelligence
system? Answer: Data warehouse, business analytics, business
performance management (BPM), and user interface.
◉What does descriptive analytics focus on? Answer: Understanding
what is happening in the organization and the trends behind it.
◉How does descriptive analytics utilize data? Answer: By
consolidating data sources for reporting and analysis.
◉What role does visualization play in descriptive analytics?
Answer: It helps develop powerful insights into organizational
operations.
◉What is the aim of predictive analytics? Answer: To determine
what is likely to happen in the future.
