Test Bank for Business Analytics, Communicating with Numbers 2nd Edition By Sanjiv Jaggia, Alison Kelly, Kevin
Business Analytics - ANSWER combines qualitative reasoning with quantitative tools to identify key business problems and translate data analysis into decisions that
improve business performance
Descriptive Analytics - ANSWER refers to gathering, organizing, tabulating, and visualizing data to summarize 'what has happened?'
Business Intelligence - ANSWER Provides organizations and their users with the ability to access and manipulate data interactively through reports, dashboards, applications, and visualization tools.
Predictive Analytics - ANSWER Refers to using historical data to predict "what could happen in the future?"
Prescriptive Analytics - ANSWER refers to using optimization and simulation algorithms to provide advice on 'what should we do?' It explores several possible actions and suggests a course of action.
Data Privacy - ANSWER referred to as information privacy, is a branch of data security related to the proper collection, usage, and transmission of data.
Data Ethics - ANSWER Is a branch of ethics that studies and evaluates moral problems related to data.
Data - ANSWER compilations of facts, figures, or other contents, both numerical and nonnumerical
Information - ANSWER Data that have been organized, analyzed, and processed in a meaningful and purposeful way
Knowledge - ANSWER a blend of data, contextual information, experience, and intuition that can be applied and put into action in specific situations
Population - ANSWER consists of all items of interests in a statistical problem.
Sample - ANSWER is a subset of the population.
Cross-sectional data - ANSWER refer to data collected by recording a characteristic of many subjects at the same point in time, or without regard to differences in time.
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