BUSINESS ANALYTICS CHAPTER 1
QUESTIONS AND CORRECT DETAILED
ANSWERS
g The decisions concerning an organization's goals and future plans are called - strategic decisions.
Data-driven decision making tends to decrease a firm's - risk
The extraction of information on the number of shipments, how much was included in each shipment,
the date each shipment was sent, and so on from the manufacturing plant's database exemplifies - data
queries.
A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is
an example of - predictive analytics.
A retail store owner offers a discount on product A and predicts that the customers would purchase
products B and C in addition to product A. Identify the technique used to make such a prediction. - Data
mining
Which of the following analytical techniques helps us arrive at the best decision? - Prescriptive analytics
When a decision maker is faced with several alternatives and an uncertain set of future events, s/he uses
______ to develop an optimal strategy. - decision analysis
Which of the following best exemplifies big data? - Cellphone owners around the world generate vast
amounts of data by calling, texting, tweeting, and browsing the Web on a daily basis.
______________________ refers to a programming model used within Hadoop that performs the two
major steps for which it is named: the map step and the reduce step. - MapReduce
Advanced analytics generally refers to - predictive and prescriptive analytics. The decisions concerning
an organization's goals and future plans are called - strategic decisions.
Data-driven decision making tends to decrease a firm's - risk
The extraction of information on the number of shipments, how much was included in each shipment,
the date each shipment was sent, and so on from the manufacturing plant's database exemplifies - data
queries.
A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is
an example of - predictive analytics.
A retail store owner offers a discount on product A and predicts that the customers would purchase
products B and C in addition to product A. Identify the technique used to make such a prediction. - Data
mining
QUESTIONS AND CORRECT DETAILED
ANSWERS
g The decisions concerning an organization's goals and future plans are called - strategic decisions.
Data-driven decision making tends to decrease a firm's - risk
The extraction of information on the number of shipments, how much was included in each shipment,
the date each shipment was sent, and so on from the manufacturing plant's database exemplifies - data
queries.
A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is
an example of - predictive analytics.
A retail store owner offers a discount on product A and predicts that the customers would purchase
products B and C in addition to product A. Identify the technique used to make such a prediction. - Data
mining
Which of the following analytical techniques helps us arrive at the best decision? - Prescriptive analytics
When a decision maker is faced with several alternatives and an uncertain set of future events, s/he uses
______ to develop an optimal strategy. - decision analysis
Which of the following best exemplifies big data? - Cellphone owners around the world generate vast
amounts of data by calling, texting, tweeting, and browsing the Web on a daily basis.
______________________ refers to a programming model used within Hadoop that performs the two
major steps for which it is named: the map step and the reduce step. - MapReduce
Advanced analytics generally refers to - predictive and prescriptive analytics. The decisions concerning
an organization's goals and future plans are called - strategic decisions.
Data-driven decision making tends to decrease a firm's - risk
The extraction of information on the number of shipments, how much was included in each shipment,
the date each shipment was sent, and so on from the manufacturing plant's database exemplifies - data
queries.
A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is
an example of - predictive analytics.
A retail store owner offers a discount on product A and predicts that the customers would purchase
products B and C in addition to product A. Identify the technique used to make such a prediction. - Data
mining
