TEST BANK For Business Analytics: Data Analysis & Decision
Making, 8th Edition by (S. Christian Albright, 2024) Verified
Chapters 1 - 19, Complete Newest Version
Big data is structured and clean data. - ANSWER: false
Predictive analytics involves higher mathematically complex models than
prescriptive analytics. - ANSWER: false
Big data can generate significant financial value across many companies and industry
sectors. - ANSWER: true
Analytics are not appropriate when you have to make rapid decisions. - ANSWER:
true
One of the tangible benefits of big data for companies is reduced risk. - ANSWER:
true
Which is not considered a defining characteristic of Big Data? - ANSWER: data quality
Which of the following in not one of the four drivers of business analytics? -
ANSWER: Desire to analyze big data
____________________ is a form of analytics which examines data to answer the
question "what should be done?" or "what can we do to make XYZ happen?" -
ANSWER: prescriptive
These are the reasons why companies to use analytics except: - ANSWER:
Government regulations protect companies
Which of the following questions is typically addressed via a Business Intelligence
project? - ANSWER: In which country did we have the highest sales last quarter?
Business Intelligence is a subset of Business Analytics. - ANSWER: false
The five Vs of Big Data are volume, velocity, volatility, variety, and veracity. -
ANSWER: false
According to some experts, analytics has become important for companies these
days because many products are becoming commodities and there is minimal
differentiation in products and services. - ANSWER: true
Answer to questions such as "what happened in the past and what will happen in the
future" is considered to be an insight. - ANSWER: false
, Today, business analytics are data driven rather than business driven. - ANSWER:
false
Which data asset is an example of unstructured data? - ANSWER: News article text
Analytics are not applicable when: - ANSWER: You have no historical data
Variables are difficult to be measured
There is not time to perform analysis (rapid decision making)
Totally unstructured decisions
If 100 megabytes of storage cost a penny, a terabyte of storage would cost: -
ANSWER: 100
______________ refers to the accuracy or trustworthiness of the big data. -
ANSWER: Veracity
If a 100 megabytes of storage cost a penny, a petabyte of storage would cost: -
ANSWER: $100,000
Data mining should be viewed as a process. - ANSWER: true
In CRISP-DM, tasks can be performed in a different order and it is possible to
backtrack to previous tasks and repeat certain actions if necessary. - ANSWER: true
CRISP-DM process model consists of five phases. - ANSWER: false
The different phases in the BA Life Cycle methodology are closely interrelated. -
ANSWER: true
In an online bookstore, making recommendations to customers concerning
additional items to buy based on the buying patterns in prior transactions is a
supervised technique. - ANSWER: false
The following business question - What factors influence customers to churn? - can
be answered by building a _____________ DM model. - ANSWER: Classification
Which of the following tasks would NOT be part of the data understanding phase in
CRISP-DM? - ANSWER: Building the model
The following business question -What customer characteristics best predicts bank
loan default OR commit fraud? - can be answered by building a _____________ DM
model. - ANSWER: Classification
Data has been collected on visitor's viewing habits at a bank's website. Which
technique is used to identify pages commonly viewed during the same visit to the
website? - ANSWER: Association
Making, 8th Edition by (S. Christian Albright, 2024) Verified
Chapters 1 - 19, Complete Newest Version
Big data is structured and clean data. - ANSWER: false
Predictive analytics involves higher mathematically complex models than
prescriptive analytics. - ANSWER: false
Big data can generate significant financial value across many companies and industry
sectors. - ANSWER: true
Analytics are not appropriate when you have to make rapid decisions. - ANSWER:
true
One of the tangible benefits of big data for companies is reduced risk. - ANSWER:
true
Which is not considered a defining characteristic of Big Data? - ANSWER: data quality
Which of the following in not one of the four drivers of business analytics? -
ANSWER: Desire to analyze big data
____________________ is a form of analytics which examines data to answer the
question "what should be done?" or "what can we do to make XYZ happen?" -
ANSWER: prescriptive
These are the reasons why companies to use analytics except: - ANSWER:
Government regulations protect companies
Which of the following questions is typically addressed via a Business Intelligence
project? - ANSWER: In which country did we have the highest sales last quarter?
Business Intelligence is a subset of Business Analytics. - ANSWER: false
The five Vs of Big Data are volume, velocity, volatility, variety, and veracity. -
ANSWER: false
According to some experts, analytics has become important for companies these
days because many products are becoming commodities and there is minimal
differentiation in products and services. - ANSWER: true
Answer to questions such as "what happened in the past and what will happen in the
future" is considered to be an insight. - ANSWER: false
, Today, business analytics are data driven rather than business driven. - ANSWER:
false
Which data asset is an example of unstructured data? - ANSWER: News article text
Analytics are not applicable when: - ANSWER: You have no historical data
Variables are difficult to be measured
There is not time to perform analysis (rapid decision making)
Totally unstructured decisions
If 100 megabytes of storage cost a penny, a terabyte of storage would cost: -
ANSWER: 100
______________ refers to the accuracy or trustworthiness of the big data. -
ANSWER: Veracity
If a 100 megabytes of storage cost a penny, a petabyte of storage would cost: -
ANSWER: $100,000
Data mining should be viewed as a process. - ANSWER: true
In CRISP-DM, tasks can be performed in a different order and it is possible to
backtrack to previous tasks and repeat certain actions if necessary. - ANSWER: true
CRISP-DM process model consists of five phases. - ANSWER: false
The different phases in the BA Life Cycle methodology are closely interrelated. -
ANSWER: true
In an online bookstore, making recommendations to customers concerning
additional items to buy based on the buying patterns in prior transactions is a
supervised technique. - ANSWER: false
The following business question - What factors influence customers to churn? - can
be answered by building a _____________ DM model. - ANSWER: Classification
Which of the following tasks would NOT be part of the data understanding phase in
CRISP-DM? - ANSWER: Building the model
The following business question -What customer characteristics best predicts bank
loan default OR commit fraud? - can be answered by building a _____________ DM
model. - ANSWER: Classification
Data has been collected on visitor's viewing habits at a bank's website. Which
technique is used to identify pages commonly viewed during the same visit to the
website? - ANSWER: Association
