ISM 4011 EXAM 3 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
Business intelligence (BI)
Answer:
is a technology- driven process for analyzing data and presenting actionable
information to help corporate executives, business managers and other end users
make more informed business decisions.
The patterns, relationships, and trends identified by BI systems
Question:
Business Intelligence Systems (BI)
Answer:
are information systems that process operational and other data to analyze past
performance to make predictions.
Question:
Typical uses for BI
Answer:
identifying changes in purchasing patterns,
entertainment,
predictive policing (BI can be used for more than just business) ,
Human Resources
Question:
1. Data acquisition:
• What needs to be done?
2. BI analysis
• How is it made useful?
3. Publish results
• How is it given to users
Answer:
3 primary BI activities
Question:
When gathering data, it will generally fall under the category of either quantitative
or qualitative. There are differences in what the data tells us, how it is collected,
and how it is analyzed.
Answer:
Data acquisition
Question:
Quantitative data
Answer:
, refers to any information that can be quantified, counted or measured, and given
a numerical value. Examples would be ticket sales, revenue, number of defects,
number of returned items, height and weight....
Question:
Qualitative data
Answer:
is descriptive in nature, expressed in terms of language rather than numerical
values. They can be observed but not as easily measured. Examples would be
product reviews (the food was delicious), interviews, birth state, hair and eye
color...
Question:
Data warehouse
Answer:
It is a system that gets data from many different sources, from within and/or
outside an organization. The data is then analyzed for use in making better and
more informed business decisions.
Question:
Functions of a Data Warehouse
Answer:
obtain data- Extract data from operational, internal and external databases,
cleanse data,
organize and relate data warehouse
catalog data using metadata
Question:
A subset of a data warehouse. It is designed for a specific department or business
function such as sales, HR, finance, etc. They contain repositories of summarized
data collected for analysis by the specific area. It helps users by giving a more
focused version of the data warehouse. Users won't have to search through the
entire warehouse for what they need, and it also helps keep information
partitioned to control what data can be accessed.
Answer:
Data mart
Question:
Supervised data mining
Answer:
develop a model prior to the analysis and apply statistical techniques to data to
estimate parameters of the model
Question:
BigData
Answer:
a term that describes large volumes of data, both structured and unstructured,
that business capture every day.
CORRECT ANSWERS
Question:
Business intelligence (BI)
Answer:
is a technology- driven process for analyzing data and presenting actionable
information to help corporate executives, business managers and other end users
make more informed business decisions.
The patterns, relationships, and trends identified by BI systems
Question:
Business Intelligence Systems (BI)
Answer:
are information systems that process operational and other data to analyze past
performance to make predictions.
Question:
Typical uses for BI
Answer:
identifying changes in purchasing patterns,
entertainment,
predictive policing (BI can be used for more than just business) ,
Human Resources
Question:
1. Data acquisition:
• What needs to be done?
2. BI analysis
• How is it made useful?
3. Publish results
• How is it given to users
Answer:
3 primary BI activities
Question:
When gathering data, it will generally fall under the category of either quantitative
or qualitative. There are differences in what the data tells us, how it is collected,
and how it is analyzed.
Answer:
Data acquisition
Question:
Quantitative data
Answer:
, refers to any information that can be quantified, counted or measured, and given
a numerical value. Examples would be ticket sales, revenue, number of defects,
number of returned items, height and weight....
Question:
Qualitative data
Answer:
is descriptive in nature, expressed in terms of language rather than numerical
values. They can be observed but not as easily measured. Examples would be
product reviews (the food was delicious), interviews, birth state, hair and eye
color...
Question:
Data warehouse
Answer:
It is a system that gets data from many different sources, from within and/or
outside an organization. The data is then analyzed for use in making better and
more informed business decisions.
Question:
Functions of a Data Warehouse
Answer:
obtain data- Extract data from operational, internal and external databases,
cleanse data,
organize and relate data warehouse
catalog data using metadata
Question:
A subset of a data warehouse. It is designed for a specific department or business
function such as sales, HR, finance, etc. They contain repositories of summarized
data collected for analysis by the specific area. It helps users by giving a more
focused version of the data warehouse. Users won't have to search through the
entire warehouse for what they need, and it also helps keep information
partitioned to control what data can be accessed.
Answer:
Data mart
Question:
Supervised data mining
Answer:
develop a model prior to the analysis and apply statistical techniques to data to
estimate parameters of the model
Question:
BigData
Answer:
a term that describes large volumes of data, both structured and unstructured,
that business capture every day.
