Business Analytics test queries and
answers graded A+
Data Set - ANS✅✅A simple collection of data or a data file
Database - ANS✅✅A collection of data files that contain information on people, locations, and so
on
Computer Clouds - ANS✅✅Hardware and software used for data remote storage, retrieval, and
computational functions
Data Warehousing - ANS✅✅A collection of databases used for reporting and data analysis
Big Data - ANS✅✅Describes the collection of data sets that are so large and complex that software
systems are hardly able to process them
Little Data - ANS✅✅Describes the smaller data segments or files that help individual business keep
track of customers
Analytics - ANS✅✅A process that involves the use of statistical techniques, information system
software, and operations research methodologies to explore, visualize, discover and communicate
patterns or trends in data
Business Analytics - ANS✅✅A process beginning with business-related data collection and
consisting of sequential application of descriptive, predictive, and prescriptive major analytic
components, the outcome of which supports and demonstrates business decision-making and
organizational performance
Descriptive - ANS✅✅Purpose: To identify possible trends in large data sets or database. The
purpose is to get a rough picture of what generally the data looks like and what criteria might have
potential for identifying trends or future business behavior
Predictive - ANS✅✅Purpose: To build predictive models designed to identify and predict future
trends
, Prescriptive - ANS✅✅Purpose: To allocate resources optimally to take advantage of predictive
trends or future opportunities
Business Intelligence - ANS✅✅Set of process and technologies that convert data into meaningful
and useful information for business purposes
Business Analytic Process - ANS✅✅Involves the three major component steps applied sequentially
to a source of data
Query Drilldown - ANS✅✅The mining effort of questioning and finding answers to pull up useful
information in the BA analysis
Categorical Data - ANS✅✅Data that is group by one or more characteristics.
Ordinal Data - ANS✅✅Data that is ranked or ordered to show relational preference
Example- Ranking business firms on product quality
Interval Data - ANS✅✅Data that is arranged along a scale where each value is equally distant from
others. It is ordinal data.
Example- A temperate gauge
Example- Survey using a likert scale
Ratio Data - ANS✅✅Data expressed as a ratio on a continuous scale
Example- The ratio of firms with green manufacturing programs is twice that of firms without such
programs
Organization Decision Making Process - ANS✅✅Developed by Elbing in 1970, focuses on decision
making to solve problems but could also be applied to finding opportunities in data and deciding
what is the best course of action to take advantage of them
answers graded A+
Data Set - ANS✅✅A simple collection of data or a data file
Database - ANS✅✅A collection of data files that contain information on people, locations, and so
on
Computer Clouds - ANS✅✅Hardware and software used for data remote storage, retrieval, and
computational functions
Data Warehousing - ANS✅✅A collection of databases used for reporting and data analysis
Big Data - ANS✅✅Describes the collection of data sets that are so large and complex that software
systems are hardly able to process them
Little Data - ANS✅✅Describes the smaller data segments or files that help individual business keep
track of customers
Analytics - ANS✅✅A process that involves the use of statistical techniques, information system
software, and operations research methodologies to explore, visualize, discover and communicate
patterns or trends in data
Business Analytics - ANS✅✅A process beginning with business-related data collection and
consisting of sequential application of descriptive, predictive, and prescriptive major analytic
components, the outcome of which supports and demonstrates business decision-making and
organizational performance
Descriptive - ANS✅✅Purpose: To identify possible trends in large data sets or database. The
purpose is to get a rough picture of what generally the data looks like and what criteria might have
potential for identifying trends or future business behavior
Predictive - ANS✅✅Purpose: To build predictive models designed to identify and predict future
trends
, Prescriptive - ANS✅✅Purpose: To allocate resources optimally to take advantage of predictive
trends or future opportunities
Business Intelligence - ANS✅✅Set of process and technologies that convert data into meaningful
and useful information for business purposes
Business Analytic Process - ANS✅✅Involves the three major component steps applied sequentially
to a source of data
Query Drilldown - ANS✅✅The mining effort of questioning and finding answers to pull up useful
information in the BA analysis
Categorical Data - ANS✅✅Data that is group by one or more characteristics.
Ordinal Data - ANS✅✅Data that is ranked or ordered to show relational preference
Example- Ranking business firms on product quality
Interval Data - ANS✅✅Data that is arranged along a scale where each value is equally distant from
others. It is ordinal data.
Example- A temperate gauge
Example- Survey using a likert scale
Ratio Data - ANS✅✅Data expressed as a ratio on a continuous scale
Example- The ratio of firms with green manufacturing programs is twice that of firms without such
programs
Organization Decision Making Process - ANS✅✅Developed by Elbing in 1970, focuses on decision
making to solve problems but could also be applied to finding opportunities in data and deciding
what is the best course of action to take advantage of them
