Business Analytics Exam questions
and answers graded A+
Enterprise Systems - ANS✅✅Support enterprise-level tasks
Federated Databases - ANS✅✅Independent, self-contained, distributed
Data Warehousing - ANS✅✅A collection of data designed to support decision-making
Data Warehousing Goals - ANS✅✅Uniform enterprise-wide operations view that permits analysis
and forecasting
Data Warehousing Characteristics - ANS✅✅- Long-term data storage
- Time-series data
- Hierarchical data organization
Hadoop - ANS✅✅Programming framework, Big Data
Hadoop Commodity Hardware - ANS✅✅Reduced costs, redundancy, distribution
Three Characteristics of Big Data - ANS✅✅Volume (more data being created), Velocity (real-time
data), Variety (messages, updates, images)
Opportunities of Data - ANS✅✅Improved airline ETA's
Speedier, more personalized data
Accurate predictions, better decisions, precise interventions
HiPPo - ANS✅✅Highest paid person's opinion
Five Management Challenges - ANS✅✅- Leadership (set goals, ask the right questions)
- Talent Management (data scientists)
,- Technology (tools available to handle big data)
- Decision Making
- Company Culture (what do we know)
Bounded Awareness - ANS✅✅-Leads people to ignore accessible, perceivable and important
information, while paying attention to other equally accessible but irrelevant information
6 Realms of Bounded Awareness - ANS✅✅Inattentional blindness
Failure to notice obvious change
Tendency to focus on only a part of a problem
Groups
Strategic decisions
Auctions
Data Analytics Revolution - ANS✅✅Transforms how companies organize, operate, manage talent,
and create value.
Purpose-Driven Data - ANS✅✅Ask the right questions
Think really small, and really big
Embrace taboos
Connect the dots
Ask the Right Questions - ANS✅✅How can we increase revenues? How can we improve
productivity of each member of our team?
Think really small, and really big - ANS✅✅The smallest edge can make the biggest difference.
Being articulate and making small changes for big improvements
Embrace Taboo - ANS✅✅Don't ignore free-text maintenance reports, power-point presentations,
soft data
Connect the Dots - ANS✅✅Don't drill down on a single data set in isolation and fail to consider
what different data sets convey in conjunction
, From Outputs to Action - ANS✅✅Run loops, not lines
Make your output usable
Build a multi-skilled team
Make adoption your deliverable
Run Loops, Not Lines - ANS✅✅Data Analytics need a plan and a purpose. OODA loop (observe,
orient, decide, and act)
Make Your Output Usable - ANS✅✅Be able to communicate your analytical findings in a
boardroom or presentation
Build a Multi-Skilled Team - ANS✅✅Decisions about which analyses to employ, what data sources
to mine, and how to present the findings are matters of human judgement
Make Adoption Your Deliverable - ANS✅✅Companies must embed analytics in the operating
models of real-world processes and day-to-day work flows
Inattentional Blindness - ANS✅✅People have a broad tendency not to see what they are looking
directly at when focused on another issue
Change Blindness - ANS✅✅The tendency to miss changes in their immediate visual environment
Focalism - ANS✅✅Tendency to focus too much on an event and too little on other events that are
likely to occur concurrently
Focusing Illusion - ANS✅✅Tendency of people to make judgments based on their attention to only
a subset of available information, to overweight that information, and to underweight unattended
information
Bounded Awareness in Groups - ANS✅✅Bounded by info that becomes part of the discussion.
Focus more on shared info than unique info
Winner's Curse - ANS✅✅Regret related to tendency to overpay in auction or negotiation
and answers graded A+
Enterprise Systems - ANS✅✅Support enterprise-level tasks
Federated Databases - ANS✅✅Independent, self-contained, distributed
Data Warehousing - ANS✅✅A collection of data designed to support decision-making
Data Warehousing Goals - ANS✅✅Uniform enterprise-wide operations view that permits analysis
and forecasting
Data Warehousing Characteristics - ANS✅✅- Long-term data storage
- Time-series data
- Hierarchical data organization
Hadoop - ANS✅✅Programming framework, Big Data
Hadoop Commodity Hardware - ANS✅✅Reduced costs, redundancy, distribution
Three Characteristics of Big Data - ANS✅✅Volume (more data being created), Velocity (real-time
data), Variety (messages, updates, images)
Opportunities of Data - ANS✅✅Improved airline ETA's
Speedier, more personalized data
Accurate predictions, better decisions, precise interventions
HiPPo - ANS✅✅Highest paid person's opinion
Five Management Challenges - ANS✅✅- Leadership (set goals, ask the right questions)
- Talent Management (data scientists)
,- Technology (tools available to handle big data)
- Decision Making
- Company Culture (what do we know)
Bounded Awareness - ANS✅✅-Leads people to ignore accessible, perceivable and important
information, while paying attention to other equally accessible but irrelevant information
6 Realms of Bounded Awareness - ANS✅✅Inattentional blindness
Failure to notice obvious change
Tendency to focus on only a part of a problem
Groups
Strategic decisions
Auctions
Data Analytics Revolution - ANS✅✅Transforms how companies organize, operate, manage talent,
and create value.
Purpose-Driven Data - ANS✅✅Ask the right questions
Think really small, and really big
Embrace taboos
Connect the dots
Ask the Right Questions - ANS✅✅How can we increase revenues? How can we improve
productivity of each member of our team?
Think really small, and really big - ANS✅✅The smallest edge can make the biggest difference.
Being articulate and making small changes for big improvements
Embrace Taboo - ANS✅✅Don't ignore free-text maintenance reports, power-point presentations,
soft data
Connect the Dots - ANS✅✅Don't drill down on a single data set in isolation and fail to consider
what different data sets convey in conjunction
, From Outputs to Action - ANS✅✅Run loops, not lines
Make your output usable
Build a multi-skilled team
Make adoption your deliverable
Run Loops, Not Lines - ANS✅✅Data Analytics need a plan and a purpose. OODA loop (observe,
orient, decide, and act)
Make Your Output Usable - ANS✅✅Be able to communicate your analytical findings in a
boardroom or presentation
Build a Multi-Skilled Team - ANS✅✅Decisions about which analyses to employ, what data sources
to mine, and how to present the findings are matters of human judgement
Make Adoption Your Deliverable - ANS✅✅Companies must embed analytics in the operating
models of real-world processes and day-to-day work flows
Inattentional Blindness - ANS✅✅People have a broad tendency not to see what they are looking
directly at when focused on another issue
Change Blindness - ANS✅✅The tendency to miss changes in their immediate visual environment
Focalism - ANS✅✅Tendency to focus too much on an event and too little on other events that are
likely to occur concurrently
Focusing Illusion - ANS✅✅Tendency of people to make judgments based on their attention to only
a subset of available information, to overweight that information, and to underweight unattended
information
Bounded Awareness in Groups - ANS✅✅Bounded by info that becomes part of the discussion.
Focus more on shared info than unique info
Winner's Curse - ANS✅✅Regret related to tendency to overpay in auction or negotiation
