BI FINAL EXAM QUESTIONS & ANSWERS
Definition of Business Intelligence and Analytics - Answer -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 - Answer -5 aspects/components of BI&A
the technical staff that takes the data sources and builds the data warehouse by
organizing, summarizing, and standardizing - Answer -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 - Answer -explain the business analytics
environment of BI&A
Importance of BI&A - Answer -#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 -
Answer -Describe the Business-Pressures-Reponses-Support model:
1. Structured
2. Semistructured
3. Unstructured - Answer -3 types of decisions:
1. Operational control
2. Managerial control
3. Strategic planning - Answer -3 types of control:
Raw facts; has no meaning without its context
- Example: Blue; Blue what? Car? Shirt? Eyes? - Answer -What is data?
, Processed data; conclusion
- Example: the total sales of the week (mathematical equation) - Answer -What is
information?
Information in action; you can learn from the information and produce actionable insight
- Example: The average salary for IT professionals is $60,000. - Answer -What is
knowledge?
structured decisions - Answer -routine/repetitive decisions
unstructured decisions - Answer -also called "ill" decisions
- There is currently not a good (template) decision; we don't know the best answer;
great deal of uncertainty and judgment
Examples: cost minimization, profit maximization
semistructured decisions - Answer -these fall between structured and unstructured
decisions, having some structured elements and some unstructured elements; trading
bonds, setting marketing budgets, etc.
operational control - Answer -day-to-day
managerial control - Answer -acquiring decisions
strategic planning - Answer -visionary
- Use data (as an asset) to make decisions
- Rules evolve over time
- Measure the consequences of decisions - Answer -Key takeaways from the in-class
Airplane rebooking scenario:
Data - Answer -________ is an extremely important asset that needs to be carefully
managed
database - Answer -In order to understand a _______________________, we need to
understand how the data needs to be managed
Data Warehouse - Answer -an integrated, subject-oriented, time-variant,
nonvolatile database that provides support for decision making.
Manual systems
File Systems
Centralized Database Systems
Distributed Database Systems
Client/server databases
Data warehouses/Data marts - Answer -Evolution of data management:
Definition of Business Intelligence and Analytics - Answer -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 - Answer -5 aspects/components of BI&A
the technical staff that takes the data sources and builds the data warehouse by
organizing, summarizing, and standardizing - Answer -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 - Answer -explain the business analytics
environment of BI&A
Importance of BI&A - Answer -#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 -
Answer -Describe the Business-Pressures-Reponses-Support model:
1. Structured
2. Semistructured
3. Unstructured - Answer -3 types of decisions:
1. Operational control
2. Managerial control
3. Strategic planning - Answer -3 types of control:
Raw facts; has no meaning without its context
- Example: Blue; Blue what? Car? Shirt? Eyes? - Answer -What is data?
, Processed data; conclusion
- Example: the total sales of the week (mathematical equation) - Answer -What is
information?
Information in action; you can learn from the information and produce actionable insight
- Example: The average salary for IT professionals is $60,000. - Answer -What is
knowledge?
structured decisions - Answer -routine/repetitive decisions
unstructured decisions - Answer -also called "ill" decisions
- There is currently not a good (template) decision; we don't know the best answer;
great deal of uncertainty and judgment
Examples: cost minimization, profit maximization
semistructured decisions - Answer -these fall between structured and unstructured
decisions, having some structured elements and some unstructured elements; trading
bonds, setting marketing budgets, etc.
operational control - Answer -day-to-day
managerial control - Answer -acquiring decisions
strategic planning - Answer -visionary
- Use data (as an asset) to make decisions
- Rules evolve over time
- Measure the consequences of decisions - Answer -Key takeaways from the in-class
Airplane rebooking scenario:
Data - Answer -________ is an extremely important asset that needs to be carefully
managed
database - Answer -In order to understand a _______________________, we need to
understand how the data needs to be managed
Data Warehouse - Answer -an integrated, subject-oriented, time-variant,
nonvolatile database that provides support for decision making.
Manual systems
File Systems
Centralized Database Systems
Distributed Database Systems
Client/server databases
Data warehouses/Data marts - Answer -Evolution of data management:
