SPREADSHEET MODELING AND DECISION
ANALYSIS A PRACTICAL INTRODUCTION TO
BUSINESS ANALYSIS 2026 FINAL ASSESSMENT
STUDY GUIDE
◉ Big data. Answer: Massive amounts of business data from a wide
variety of sources, much of which is available in real time and much
of which is uncertain or unpredictable.
◉ Business analytics (analytics). Answer: The use of data,
information technology, statistical analysis, quantitative methods,
and mathematical or computer-based models to help managers gain
improved in sight about their business operations and make better,
fact-based decisions; a process of transforming data into actions
through analysis and insights in the context of organizational
decision making and problem solving.
◉ Business Intelligence (BI). Answer: The collection, management,
analysis, and reporting of data.
◉ Categorical (nominal) data. Answer: Data that are sorted into
categories according to specified characteristics.
, ◉ Constraints. Answer: Limitations, requirements, or other
restrictions that are imposed on any solution, either practical or
technological considerations or by management policy.
◉ Continuous metric. Answer: A metric that is based on a
continuous scale of measurement.
◉ Data mining. Answer: A rapidly growing field of business analytics
that is focused on better understanding characteristics and patterns
among variables in large databases using a variety of statistical and
analytical tools.
◉ Data set. Answer: A collection of data.
◉ Database. Answer: A collection of related files containing records
on people, places, or things.
◉ Decision model. Answer: A logical or mathematical representation
of a problem or business situation that can be used to understand,
analyze, or facilitate making a decision.
◉ Decision support systems (DSS). Answer: A combination of
business intelligence concepts and OR/MS models to create
analytical-based computer systems to support decision making.
ANALYSIS A PRACTICAL INTRODUCTION TO
BUSINESS ANALYSIS 2026 FINAL ASSESSMENT
STUDY GUIDE
◉ Big data. Answer: Massive amounts of business data from a wide
variety of sources, much of which is available in real time and much
of which is uncertain or unpredictable.
◉ Business analytics (analytics). Answer: The use of data,
information technology, statistical analysis, quantitative methods,
and mathematical or computer-based models to help managers gain
improved in sight about their business operations and make better,
fact-based decisions; a process of transforming data into actions
through analysis and insights in the context of organizational
decision making and problem solving.
◉ Business Intelligence (BI). Answer: The collection, management,
analysis, and reporting of data.
◉ Categorical (nominal) data. Answer: Data that are sorted into
categories according to specified characteristics.
, ◉ Constraints. Answer: Limitations, requirements, or other
restrictions that are imposed on any solution, either practical or
technological considerations or by management policy.
◉ Continuous metric. Answer: A metric that is based on a
continuous scale of measurement.
◉ Data mining. Answer: A rapidly growing field of business analytics
that is focused on better understanding characteristics and patterns
among variables in large databases using a variety of statistical and
analytical tools.
◉ Data set. Answer: A collection of data.
◉ Database. Answer: A collection of related files containing records
on people, places, or things.
◉ Decision model. Answer: A logical or mathematical representation
of a problem or business situation that can be used to understand,
analyze, or facilitate making a decision.
◉ Decision support systems (DSS). Answer: A combination of
business intelligence concepts and OR/MS models to create
analytical-based computer systems to support decision making.
