2023 T2 INFS3603 INTRO TO BUSINESS ANALYTICS QUESTIONS AND
ANSWERS UPDATE 2024/2025 ALL ANSWERS 100% CORRECT
VERIFIED RATED A+ BEST EXAM SOLUTION FOR BUSINESS
Business intelligence BI [1] - CORRECT ANSWERS
Focused on current and past events that are captured in
the data (i.e., What is happening now and why?)
- It helps companies form strategies for current situations
by making data actionable. The information is broken
down so that a specific question that applies to what's
happening now can be answered.
- It is designed to tell you what has happened, what is
happening now and point to reasons why. It's descriptive.
- Its tools present data so that marketers, accountants and
managers without technical expertise are able to decipher
it and make informed business decisions. The visualization
of key data points is done automatically within BI tools
without the help of a data professional.
- It requires only basic math to calculate results - and
software can do that for the end user. BI relies on the
creation of mathematical models, querying, machine
learning and artificial intelligence to make projections
,2023 T2 INFS3603 INTRO TO BUSINESS ANALYTICS QUESTIONS AND
ANSWERS UPDATE 2024/2025 ALL ANSWERS 100% CORRECT
VERIFIED RATED A+ BEST EXAM SOLUTION FOR BUSINESS
- The data is arranged into easy-to-read reports that tell
users what's happening. (Dashboards and charts are also
commonly used
- Many companies ease their way into analytics by
implementing a business intelligence strategy that will put
a plan in place for gathering, storing and structuring data.
Business analytics [1] - CORRECT ANSWERS Focused on
what's most likely to happen in the future (i.e., What will
probably happen next?). The role of analytics is to arm
decision makers with relevant and actionable information.
This can be in the form of metrics, tools, one-off insights
- It uses data insights to form strategies that affect future
operations. The goal is to improve upon productivity and
systems that are currently in place.
- It is a type of predictive analytics. It identifies trends and
patterns in the business analytics data that suggest why
things are happening and whether similar results will
occur in the future.
,2023 T2 INFS3603 INTRO TO BUSINESS ANALYTICS QUESTIONS AND
ANSWERS UPDATE 2024/2025 ALL ANSWERS 100% CORRECT
VERIFIED RATED A+ BEST EXAM SOLUTION FOR BUSINESS
- More work is needed to parse out the useful information
and interpret it. It's a job that's better suited for someone
who's had data analysis training.
- Needs a data professional with an analytics skillset that
knows how to build machine learning capabilities.
- The data is taken a few steps further than reporting. Data
applications and statistical analysis is done to look further
into trends and determine why things are happening.
- Businesses begin to dive deeper with predictive business
analytics.
Business analytics BA [1] - CORRECT ANSWERS
Concerned with "the extensive use of data, statistical and
quantitative analysis, explanatory and predictive models,
and fact-based management to drive decisions and actions.
4 Vs of big data [1] - CORRECT ANSWERS Volume, variety,
velocity, veracity
, 2023 T2 INFS3603 INTRO TO BUSINESS ANALYTICS QUESTIONS AND
ANSWERS UPDATE 2024/2025 ALL ANSWERS 100% CORRECT
VERIFIED RATED A+ BEST EXAM SOLUTION FOR BUSINESS
Volume [1] - CORRECT ANSWERS Data at rest. Terabytes
to exabytes of existing data to process
- Volume poses a great challenge and opportunity as it
could help organisations understand people better
Variety [1] - CORRECT ANSWERS Data in many forms.
Structure, unstructured, text, multilmedia
- Variety of data types to be processed becomes
increasingly diverse. Besides traditional data like
documents, finances, stock records, and personnel files,
today photographs, audio, video, 3D models, location data
and complex simulations are being piled into many
corporate data silo. These are unstructured and hence not
easy to categorise and process traditionally
Velocity [1] - CORRECT ANSWERS Data in motion.
Streaming data, milliseconds to seconds to respond
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