ISM 4402 MIDTERM QUESTIONS AND ANSWERS
What are some of the key system oriented trends that have fostered IS-supported
decision making to a new level? - Answer --Group communication and collaboration
software and systems
-Improved data management applications and techniques
-Data warehouses and Big Data for information collection
-Analytical support systems
-Growth in processing and storing formation storage capabilities
-knowledge management systems
-Support of all of these systems that is always available
List three of the terms that have been predecessors of analytics. - Answer --data
support systems (DSS)
-operations research (OR) models
-expert systems (ER)
Define BI. - Answer -An umbrella term combining architectures, tools, databases,
analytic tools, applications, and methodologies.
Objective is to enable interactive access (sometimes in real time) to data, and provide
business managers and analysts the ability to conduct appropriate analysis.
List and describe the major components of BI. - Answer --Data warehouse: source data
-business analytics: a collection of tools for manipulating, mining, and analyzing the
data in the data warehouse
-business performance management: monitoring and analyzing performance
-user interface: dashboard
Define OLTP - Answer -Online transaction processing is a type of computer processing
that responds immediately to user requests. Each request considered a transaction
(computerized record of a discrete event) such as receipt of inventory or customer
order.
(analysis)
Define OLAP - Answer -Online analytical processing is for end-user ad hoc reports,
queries, and analysis. Enables the benefits of BI and provides competitive intelligence
and advantages.
(decision support)
List some of the implementation topics addressed by Gartner's report. - Answer -
Business, organization, functionality, and infrastructure.
Define Analytics - Answer -The process of developing actionable decisions or
recommendations for action based upon insights generated from historical data.
, What is descriptive analytics? What are the various tools that are employed in
descriptive analytics? - Answer -Knowing what is happening in the organization and
understanding some underlying trends and causes of such occurrences.
How is descriptive analytics different from traditional reporting? - Answer -Descriptive
analytics gathers more data, often automatically. It makes results available in real time
and allows reports to be customized.
How can data warehousing technology help to enable analytics? - Answer --Developing
a data warehouse usually includes development of the data infrastructure for descriptive
analytics.
-Consolidation of data sources and making relevant data available in a form that
enables appropriate reporting and analysis.
-Serves as basis for developing appropriate reports, queries, alerts, and trends.
Define modeling from the analytics perspective. - Answer -Analytics uses descriptive
data to create models of how people, equipment, or other variables operate in the real
world. These models can be used in predictive and prescriptive analytics to develop
forecasts, recommendations, and decisions.
How can analytics aid in objective decision making? - Answer -Analytics builds on
historical data and takes into account changing conditions to arrive at fact-based
solutions that decisions makers might not have considered.
Define big data - Answer -Data that cannot be stored in a single storage unit.
What is big data analytics? - Answer -Analytics on a large enough scale, with fast
enough processing, to handle this kind of data.
What are the sources of big data? - Answer -Clickstreams from web sites, postings on
social media, and data from traffic, sensors, and the weather.
What are the characteristics of big data? - Answer -Almost any data that has volume,
velocity, and variety.
What processing technique is applied to process big data? - Answer --Algorithmic
trading: uses electronic platforms based on algorithms operating in nanoseconds.
-Sentiment analysis: uses various forms of data from social media platforms and
customer responses to gauge sentiments.
List the 11 categories of players in the analytics ecosystem. - Answer --Data generation
infrastructure providers
-Data management infrastructure providers
-Data warehouse providers
-Middleware providers
What are some of the key system oriented trends that have fostered IS-supported
decision making to a new level? - Answer --Group communication and collaboration
software and systems
-Improved data management applications and techniques
-Data warehouses and Big Data for information collection
-Analytical support systems
-Growth in processing and storing formation storage capabilities
-knowledge management systems
-Support of all of these systems that is always available
List three of the terms that have been predecessors of analytics. - Answer --data
support systems (DSS)
-operations research (OR) models
-expert systems (ER)
Define BI. - Answer -An umbrella term combining architectures, tools, databases,
analytic tools, applications, and methodologies.
Objective is to enable interactive access (sometimes in real time) to data, and provide
business managers and analysts the ability to conduct appropriate analysis.
List and describe the major components of BI. - Answer --Data warehouse: source data
-business analytics: a collection of tools for manipulating, mining, and analyzing the
data in the data warehouse
-business performance management: monitoring and analyzing performance
-user interface: dashboard
Define OLTP - Answer -Online transaction processing is a type of computer processing
that responds immediately to user requests. Each request considered a transaction
(computerized record of a discrete event) such as receipt of inventory or customer
order.
(analysis)
Define OLAP - Answer -Online analytical processing is for end-user ad hoc reports,
queries, and analysis. Enables the benefits of BI and provides competitive intelligence
and advantages.
(decision support)
List some of the implementation topics addressed by Gartner's report. - Answer -
Business, organization, functionality, and infrastructure.
Define Analytics - Answer -The process of developing actionable decisions or
recommendations for action based upon insights generated from historical data.
, What is descriptive analytics? What are the various tools that are employed in
descriptive analytics? - Answer -Knowing what is happening in the organization and
understanding some underlying trends and causes of such occurrences.
How is descriptive analytics different from traditional reporting? - Answer -Descriptive
analytics gathers more data, often automatically. It makes results available in real time
and allows reports to be customized.
How can data warehousing technology help to enable analytics? - Answer --Developing
a data warehouse usually includes development of the data infrastructure for descriptive
analytics.
-Consolidation of data sources and making relevant data available in a form that
enables appropriate reporting and analysis.
-Serves as basis for developing appropriate reports, queries, alerts, and trends.
Define modeling from the analytics perspective. - Answer -Analytics uses descriptive
data to create models of how people, equipment, or other variables operate in the real
world. These models can be used in predictive and prescriptive analytics to develop
forecasts, recommendations, and decisions.
How can analytics aid in objective decision making? - Answer -Analytics builds on
historical data and takes into account changing conditions to arrive at fact-based
solutions that decisions makers might not have considered.
Define big data - Answer -Data that cannot be stored in a single storage unit.
What is big data analytics? - Answer -Analytics on a large enough scale, with fast
enough processing, to handle this kind of data.
What are the sources of big data? - Answer -Clickstreams from web sites, postings on
social media, and data from traffic, sensors, and the weather.
What are the characteristics of big data? - Answer -Almost any data that has volume,
velocity, and variety.
What processing technique is applied to process big data? - Answer --Algorithmic
trading: uses electronic platforms based on algorithms operating in nanoseconds.
-Sentiment analysis: uses various forms of data from social media platforms and
customer responses to gauge sentiments.
List the 11 categories of players in the analytics ecosystem. - Answer --Data generation
infrastructure providers
-Data management infrastructure providers
-Data warehouse providers
-Middleware providers
