Business Intelligence Final Exam (CORRECTLY SOLVED)

Definition of Business Intelligence and Analytics correct answers Business Intelligence & Analytics are the techniques, technologies, systems, practices, methodologies and applications that analyze critical business data to help an enterprise better understand its business and market and make timely business decisions. 1. Data Management 2. Descriptive Analytics 3. Predictive Analytics 4. Prescriptive Analytics 5. Business Performance Management correct answers 5 aspects/components of BI&A the technical staff that takes the data sources and builds the data warehouse by organizing, summarizing, and standardizing correct answers explain the data warehouse environment of BI&A: the business users that access the date warehouse; manipulation via user interface (browser, portal, dashboard) and produce results which lead to performance and strategy from managers and executives correct answers explain the business analytics environment of BI&A Importance of BI&A correct answers #1 priority for CEO's - evidence based businesses generally outperform their competition, in terms of growth There are several business environmental factors: globalization, customer demand, government regulations, market conditions, competition, etc. These factors can be both pressures and opportunities, depending on how an organization responds to them: strategy, partners collaboration, real-time response, agility, increased productivity, new vendors, new business model, etc. These organization responses drive decisions and support: Analyses, Predictions, & Decisions, which makes up Business Intelligence correct answers Describe the Business-Pressures-Reponses-Support model: 1. Structured 2. Semistructured 3. Unstructured correct answers 3 types of decisions: 1. Operational control 2. Managerial control 3. Strategic planning correct answers 3 types of control: Raw facts; has no meaning without its context - Example: Blue; Blue what? Car? Shirt? Eyes? correct answers What is data? Processed data; conclusion