ISM 3541 Exam 1 FSU | Florida State University |
UPDATED Questions with 100% Verified Answers
Q1: Planning for Success Framework
A: Scope
Schedule
Resources
Q2: Scope
A: Features, functionality
Q3: Schedule
A: Time and Prioritization
Q4: Resources
A: Cost, Budget, and human
Q5: Intelligence
A: The ability to acquire and apply knowledge and skills; a person or being with the ability
to acquire and apply knowledge; the collection of information of military or political
value
Q6: Analytics
A: The systematic computational analysis of data or statistics; information resulting from the
systematic analysis of data or statistics
o Business Intelligence is on the decline and Business Analytics is on the rise
Q7: Academic View of Defining Analytics
A: Increasing knowledge through progressive elaboration
Markets for products and services have consumers and suppliers
Data is stored and extended through the MIS and KIS constructs
Analytics is a component of knowledge
Q8: Data is stored in a
A: Database
Q9: Data is extended to information via
A: Applications, queries and reports
Q10: Information is extended into knowledge through
, A: Decision Making
Q11: Knowledge is extended into wisdom through
A: Smart decision based on high quality data and experience
Q12: Data Modeling
A: Descriptive modeling, predictive modeling, prescriptive modeling
Q13: Project Management Body of Knowledge
A: Process for defining the "schedule-scope-resources" boundaries that evolve through a
concept of progressive elaboration over a period of time defined by a hard start date
and end date
Q14: Descriptive Analytics
A: Leveraging known, historical data to create a story about how an object arrived in its
current state
Q15: Predictive Analytics
A: Creating modules on objects based on attributes gathered from data sets to determine
the future behavior of an object and being able to rationalize the prediction based on a
formula or algorithm that incorporates risk and probability
Q16: Decision Analytics
A: Is "predictive analysis" on steroids where multiple paths for future behavior are
guesstimated based on probability, risk, impact, and priority and is supported by an
overall recommendation(s)
Q17: The world of business analytics is a
A: "Green Field"
Q18: "Green Field" implies that
A: We are in frontier discovery mode
Q19: Big Data (data science)
A: A strategy for many businesses and should be considered when developing a company's
vision for where they are heading
Q20: App
A: An executable file that is stored locally on a device and conducts some processing of
data locally and then passed back to the server
UPDATED Questions with 100% Verified Answers
Q1: Planning for Success Framework
A: Scope
Schedule
Resources
Q2: Scope
A: Features, functionality
Q3: Schedule
A: Time and Prioritization
Q4: Resources
A: Cost, Budget, and human
Q5: Intelligence
A: The ability to acquire and apply knowledge and skills; a person or being with the ability
to acquire and apply knowledge; the collection of information of military or political
value
Q6: Analytics
A: The systematic computational analysis of data or statistics; information resulting from the
systematic analysis of data or statistics
o Business Intelligence is on the decline and Business Analytics is on the rise
Q7: Academic View of Defining Analytics
A: Increasing knowledge through progressive elaboration
Markets for products and services have consumers and suppliers
Data is stored and extended through the MIS and KIS constructs
Analytics is a component of knowledge
Q8: Data is stored in a
A: Database
Q9: Data is extended to information via
A: Applications, queries and reports
Q10: Information is extended into knowledge through
, A: Decision Making
Q11: Knowledge is extended into wisdom through
A: Smart decision based on high quality data and experience
Q12: Data Modeling
A: Descriptive modeling, predictive modeling, prescriptive modeling
Q13: Project Management Body of Knowledge
A: Process for defining the "schedule-scope-resources" boundaries that evolve through a
concept of progressive elaboration over a period of time defined by a hard start date
and end date
Q14: Descriptive Analytics
A: Leveraging known, historical data to create a story about how an object arrived in its
current state
Q15: Predictive Analytics
A: Creating modules on objects based on attributes gathered from data sets to determine
the future behavior of an object and being able to rationalize the prediction based on a
formula or algorithm that incorporates risk and probability
Q16: Decision Analytics
A: Is "predictive analysis" on steroids where multiple paths for future behavior are
guesstimated based on probability, risk, impact, and priority and is supported by an
overall recommendation(s)
Q17: The world of business analytics is a
A: "Green Field"
Q18: "Green Field" implies that
A: We are in frontier discovery mode
Q19: Big Data (data science)
A: A strategy for many businesses and should be considered when developing a company's
vision for where they are heading
Q20: App
A: An executable file that is stored locally on a device and conducts some processing of
data locally and then passed back to the server
