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BUSINESS ANALYTICS 3RD EDITION EVANS CHAPTERS ONE TO SIXTEEN ACTUAL REVIEW SHEET WITH FULL ANSWERS AND PRACTICE QUESTIONS

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BUSINESS ANALYTICS 3RD EDITION EVANS CHAPTERS ONE TO SIXTEEN ACTUAL REVIEW SHEET WITH FULL ANSWERS AND PRACTICE QUESTIONS

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BUSINESS ANALYTICS 3RD EDITION EVANS
CHAPTERS ONE TO SIXTEEN ACTUAL
REVIEW SHEET WITH FULL ANSWERS AND
PRACTICE QUESTIONS

⩥ Tactical decisions.
Answer: Decisions concerned with how the organization should achieve
the goals and objectives set by its strategy.


⩥ Operational decision.
Answer: Decisions related to the day-to-day activities of the
organization.


⩥ Business analytics.
Answer: The scientific process of transforming data into insight for
making better decisions.


⩥ Four V's of big data.
Answer: Velocity, veracity, volume, and variety


⩥ Veracity.
Answer: Refers to how much uncertainty is in the data.

, ⩥ Data scientist.
Answer: A professional trained in both computer science and statistics,
skilled in processing and analyzing large amounts of data.


⩥ Prescriptive analytics.
Answer: The most complex type of analytics that helps arrive at the best
decision.


⩥ Descriptive analytics.
Answer: Analytics that summarizes what has happened.


⩥ Predictive analytics.
Answer: Analytics that estimates future outcomes based on historical
data.


⩥ Data-driven decision-making.
Answer: A process that tends to decrease a firm's risk.


⩥ Medical records.
Answer: An example of a source of big data that is not publicly
available.

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