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Chapter 1 Introduction to Business Analytics (rated 100% correct). $9.29   Add to cart
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Chapter 1 Introduction to Business Analytics (rated 100% correct).
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Chapter 1 Introduction to Business Analytics (rated 100% correct).

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  • August 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
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  • chapter 1 introduction to business analytics rate

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  • Business Analytics
  • Business Analytics

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Chapter 1 Introduction to Business
Analytics (rated 100% correct).

Algorithm ANS - A systematic procedure that finds a solution to a problem.



Big data ANS - Massive amounts of business data from a wide variety of sources, much of which is
available in real time and much of which is uncertain or unpredictable.



Business analytics (analytics) ANS - The use of data, information technology, statistical analysis,
quantitative methods, and mathematical or computer-based models to help managers gain improved in
sight about their business operations and make better, fact-based decisions; a process of transforming
data into actions through analysis and insights in the context of organizational decision making and
problem solving.



Business Intelligence (BI) ANS - The collection, management, analysis, and reporting of data.



Categorical (nominal) data ANS - Data that are sorted into categories according to specified
characteristics.



Constraints ANS - Limitations, requirements, or other restrictions that are imposed on any solution,
either practical or technological considerations or by management policy.



Continuous metric ANS - A metric that is based on a continuous scale of measurement.



Data mining ANS - A rapidly growing field of business analytics that is focused on better understanding
characteristics and patterns among variables in large databases using a variety of statistical and
analytical tools.



Data set ANS - A collection of data.

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