Exam (elaborations)
Business Intelligence And Data Analytics Exam 1 Questions And Answers Latest Update
- Course
- Institution
Business Intelligence And Data Analytics Exam 1 Questions And Answers Latest Update
[Show more]
Seller
Follow
Schoolflix
Reviews received
Content preview
Solution 2024/2025Pepper
Business Intelligence Final Exam Questions
And Answers Latest Update
Definition of Business Intelligence and Analytics ANS✔✔ Business
Intelligence & Analytics are the techniques, technologies, systems,
practices, methodologies and applications that analyze critical business
data to help an enterprise better
understand its business and market and make timely business decisions.
1. Data Management
2. Descriptive Analytics
3. Predictive Analytics
4. Prescriptive Analytics
5. Business Performance Management ANS✔✔ 5 aspects/components of
BI&A
the technical staff that takes the data sources and builds the data
warehouse by organizing, summarizing, and standardizing ANS✔✔ explain
the data warehouse environment of BI&A:
the business users that access the date warehouse; manipulation via user
interface (browser, portal, dashboard) and produce results which lead to
performance and strategy from managers and executives ANS✔✔ explain
the business analytics environment of BI&A
Importance of BI&A ANS✔✔ #1 priority for CEO's
, Solution 2024/2025
Pepper
- evidence based businesses generally outperform their competition, in
terms of growth
There are several business environmental factors: globalization, customer
demand, government regulations, market conditions, competition, etc.
These factors can be both pressures and opportunities, depending on how
an organization responds to them: strategy, partners collaboration, real-
time response, agility, increased productivity, new vendors, new business
model, etc. These organization responses drive decisions and support:
Analyses, Predictions, & Decisions, which makes up Business Intelligence
ANS✔✔ Describe the Business-Pressures-Reponses-Support model:
1. Structured
2. Semistructured
3. Unstructured ANS✔✔ 3 types of decisions:
1. Operational control
2. Managerial control
3. Strategic planning ANS✔✔ 3 types of control:
Raw facts; has no meaning without its context
- Example: Blue; Blue what? Car? Shirt? Eyes? ANS✔✔ What is data?
Processed data; conclusion
- Example: the total sales of the week (mathematical equation) ANS✔✔
What is information?
, Solution 2024/2025
Pepper
Information in action; you can learn from the information and produce
actionable insight
- Example: The average salary for IT professionals is $60,000. ANS✔✔ What
is knowledge?
structured decisions ANS✔✔ routine/repetitive decisions
unstructured decisions ANS✔✔ also called "ill" decisions
- There is currently not a good (template) decision; we don't know the best
answer; great deal of uncertainty and judgment
Examples: cost minimization, profit maximization
semistructured decisions ANS✔✔ these fall between structured and
unstructured decisions, having some structured elements and some
unstructured elements; trading bonds, setting marketing budgets, etc.
operational control ANS✔✔ day-to-day
managerial control ANS✔✔ acquiring decisions
strategic planning ANS✔✔ visionary
- Use data (as an asset) to make decisions
- Rules evolve over time
- Measure the consequences of decisions ANS✔✔ Key takeaways from the
in-class Airplane rebooking scenario:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81239 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now