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INTRODUCTION TO BUSINESS ANALYTICS UPDATED ACTUAL EXAM QUESTIONS CORRECT ANSWERS GRADED A PLUS.pdf

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INTRODUCTION TO BUSINESS ANALYTICS UPDATED ACTUAL EXAM QUESTIONS CORRECT ANSWERS GRADED A PLUS.pdf

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INTRODUCTION TO BUSINESS ANALYTICS UPDATED ACTUAL EXAM QUESTIONS CORRECT
ANSWERS GRADED A PLUS




● Business Decisions Enhanced by Analytics. Answer: 1. Pricing
2. Customer segmentation
3. Merchandising
4. Location
5. Supply chain design
6. Staffing
7. Healthcare


● Do most organizations know how to use analytics to improve their
businesses?. Answer: Nope


● Core Business Analytics Disciplines. Answer: 1. BI and IS
2. Statistics
3. Modeling and optimization


● Business Intelligence (BI). Answer: The collection, management,
analysis, and reporting of data

, ● Information Systems (IS). Answer: The modern discipline evolved
from business intelligence


● Statistics. Answer: Gain a richer understanding of data that goes
beyond BI reporting by summarizing data and finding unknown and
interesting relationships


● Activities of Statistics. Answer: 1. Description
2. Exploration
3. Estimation
4. Inference
5. Regression
6. Forecasting
7. Data mining


● Operations Research/Management Science (OR/MS). Answer: The
analysis and solution of complex decision problems using mathematical
or computer-based models


● Modeling and Optimization. Answer: Techniques for translating real
problems into mathematics, spreadsheets, or other computer languages,
and using them to find the best ("optimal") solutions and decisions.

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