Business Analytics exam questions and answers graded A+

Business Analytics exam questions
and answers graded A+
Business analytics - ANS✅✅use of data, information technology, statistical analysis, quantitative
method, and mathematical or computer based operations and make better, fact based decisions



Business intelligence - ANS✅✅collection, management, analysis, and reporting of data



Information systems - ANS✅✅modern discipline evolved from business intelligence



Statistics - ANS✅✅science of uncertainty and the technology of extracting information from data;
an important element of business, driven to a large extent by the massive growth



operations research/management science - ANS✅✅analysis and solution of complex decision
problems using mathematical or computer-based models



modeling and optimization - ANS✅✅techniques for translating real problems into mathematics,
spreadsheets, or other computer languages, and using them to find the best "optimal" solutions and
decisions



decision support systems - ANS✅✅combo of business intelligence concepts and or/ms models to
create analytical-based computer systems to support decision making



data mining - ANS✅✅focused on understanding characteristics and patterns among variables in
large databases using a variety of statistical and analytical tools



simulation and risk analysis - ANS✅✅methodology that relies on spreadsheet models and
statistical analysis to examine the impact of uncertainty in the estimates and their potential
interaction with one another on the output variable of interest



what if analysis - ANS✅✅analysis shows how specific combinations of inputs that reflect key
assumptions will affect model outputs



visualization - ANS✅✅most useful component of business analytics that is truly unique