MISY5370-Data Mining & Predictive Analytics Midterm questions with answers.

MISY5370-Data Mining & Predictive |\ |\ |\ |\




Analytics Midterm questions with |\ |\ |\ |\




answers


Strategic Decision - CORRECT ANSWERS ✔✔a decision that
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involves higher-level issues and that is concerned with the overall
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direction of the organization, defining the overarching goals and
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aspirations for the organization's future
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Tactical decision - CORRECT ANSWERS ✔✔a decision concerned
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with how the organization should achieve the goals and
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objectives set by its strategy |\ |\ |\ |\




Operational Decision - CORRECT ANSWERS ✔✔a decision
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concerned with how the organization is the run from day to day
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Business Analytics - CORRECT ANSWERS ✔✔the scientific process
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of transforming data into insight for making better decisions
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descriptive analytics - CORRECT ANSWERS ✔✔analytical tools
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that describe what has happened
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data query - CORRECT ANSWERS ✔✔a request for information
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with certain characteristics from a database
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, data dashboard - CORRECT ANSWERS ✔✔a collection of tables,
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charts, and maps to help management monitor selected aspects
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of the company's performance
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predictive analytics - CORRECT ANSWERS ✔✔techniques that use
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models constructed from past data to predict the future or to
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ascertain the impact of one variable on another
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data mining - CORRECT ANSWERS ✔✔techniques used to find
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patterns or relationships among elements of the data in a large
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database


simulation - CORRECT ANSWERS ✔✔the use of probability and
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statistics to construct a computer model to study the impact of
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uncertainty on the decision at hand |\ |\ |\ |\ |\




Prescriptive analytics - CORRECT ANSWERS ✔✔techniques that
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take input data and yield a best course of action
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optimization model - CORRECT ANSWERS ✔✔a mathematical |\ |\ |\ |\ |\ |\ |\


model that gives the best decision, subject to the simulation's
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constraints


simulation optimization - CORRECT ANSWERS ✔✔the use of
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probability and statistics to model uncertainty, coalyimbined with
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optimization techniques , to find good decisions in highly
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complex and highly uncertain settings
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