OMIS 472 Final Exam UPDATED ACTUAL Questions and CORRECT Answers
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Course
OMIS 472
Institution
OMIS 472
OMIS 472 Final Exam UPDATED
ACTUAL Questions and CORRECT
Answers
Data analytics - CORRECT ANSWER- a process that involves:
(a) identifying the problem
(b) gathering relevant data that frequently are not in a usable form
(c) cleaning up the data to make them usable
(d) loading them into dat...
OMIS 472 Final Exam UPDATED
ACTUAL Questions and CORRECT
Answers
Data analytics - CORRECT ANSWER✔✔- a process that involves:
(a) identifying the problem
(b) gathering relevant data that frequently are not in a usable form
(c) cleaning up the data to make them usable
(d) loading them into data storage models
(e) manipulating them to discover information that leads to actionable insights
(f) making decisions based on those insights
Data analytics enables us to answer the following questions: - CORRECT ANSWER✔✔- -
What has happened in the past?
- Why did it happen?
- What could happen in the future? With what certainty?
- What actions can we take now to support or prevent certain events from happening in the
future?
- Can some of the actions resulting from our insights be automated?
Data - CORRECT ANSWER✔✔- are the raw figures, numbers, or text that serve as the
starting point of analysis
Information - CORRECT ANSWER✔✔- when they reveal the causes or results of the event
When information is given meaning, we gain __________ and understanding of the data. -
CORRECT ANSWER✔✔- Knowledge
Knowledge - CORRECT ANSWER✔✔- - is created when we learn from information.
- provides the answer to why something is the way it is.; for example, which customers did
not buy from us because of pricing and which customers did not buy from us because of
quality?
, Wisdom - CORRECT ANSWER✔✔- - is acquired when knowledge is gathered over time.
- is the deep understanding of underlying principles and behaviors
Decision - CORRECT ANSWER✔✔- - Wisdom coupled with a goal yields a _______
- We can implement the _________ into action to influence and guide our direction
Data Science - CORRECT ANSWER✔✔- - which is the intersection of computer science,
statistics and domain knowledge
- involves the use of computers to acquire knowledge by analyzing large amounts of data
using models and domain expertise
Data Analytics - CORRECT ANSWER✔✔- is a process that involves:
(a) identifying the problem
(b) gathering relevant data that frequently are not in a usable form
(c) cleaning up the data to make them usable
(d) loading them into data storage models
(e) manipulating them to discover information that leads to actionable insights
(f) making decisions based on those insights
Business Intelligence - CORRECT ANSWER✔✔- - has been used to describe analytics in
the context of business data.
- focuses primarily on business data, financial data, and marketing data to gain business
value, customer loyalty, and other benefits
Application of Analytics - CORRECT ANSWER✔✔- - Retail
- Manufacturing
- Marketing
- Supply Chain
- Customer Service
- Forecasting and Budgeting
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