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Chapter 1 Business Analytics questions with verified correct answers. $9.69   Add to cart
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Chapter 1 Business Analytics questions with verified correct answers.
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Chapter 1 Business Analytics questions with verified correct answers.

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  • August 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
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  • chapter 1 business analytics questions with verifi

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  • Business Analytics
  • Business Analytics

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Chapter 1 Business Analytics questions
with verified correct answers.

business analytics ANS - use of data, information technology, statistical analysis, quantitative method,
and mathematical or computer based operations and make better, fact based decisions



business intelligence ANS - collection, management, analysis, and reporting of data



information systems ANS - modern discipline evolved from business intelligence



statistics ANS - science of uncertainty and the technology of extracting information from data; an
important element of business, driven to a large extent by the massive growth



operations research/management science ANS - analysis and solution of complex decision problems
using mathematical or computer-based models



modeling and optimization ANS - techniques for translating real problems into mathematics,
spreadsheets, or other computer languages, and using them to find the best "optimal" solutions and
decisions



decision support systems ANS - combo of business intelligence concepts and or/ms models to create
analytical-based computer systems to support decision making



data mining ANS - focused on understanding characteristics and patterns among variables in large
databases using a variety of statistical and analytical tools



simulation and risk analysis ANS - methodology that relies on spreadsheet models and statistical
analysis to examine the impact of uncertainty in the estimates and their potential interaction with one
another on the output variable of interest

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